India 4th most equal country

With a Gini Index of 25.5, the country outpaced all G7 and G20 nations, as per World Bank report

- PRESS TRUST OF INDIA

Inequality in India has come down significantly between 2011-12 and 2022-23, making it the fourth-most equal country globally, according to a World Bank report.

This is in addition to a sharp decrease in extreme poverty, which has dropped from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23, an official release said quoting World Bank data.

The government attributed the reduction in inequality to various initiatives and schemes pursued during the last decade.

The only three countries which have a better Gini Index score, a measure of equality, are the Slovak Republic, Slovenia and Belarus.

India is much better placed than countries like China, the USA and the United Kingdom.

"...India's Gini Index stands at 25.5, making it the fourth most equal country in the world, after the Slovak Republic, Slovenia and Belarus," the statement said.

The Gini Index helps in understanding how equally income, wealth or consumption is distributed across households or individuals in a country. It ranges in value from 0 to 100.