New Delhi: Income inequality The country remained at the same level during the epidemic and India has performed very well in terms of navigating income shocks in terms of population, according to a report by the State Bank of India (SBI).
“Our results prove that in the Indian context, it is wrong to assume that inequality has worsened during an epidemic. Our estimated Guinea coefficients in all the states show that income inequality remained at almost the same level during the epidemic, ”said Soumya Kanti Ghosh, Group Economic Adviser, SBI.
With progressive growth in production in all states as per proxy by GSDP (Total state domestic production), It is clear that the fruits of such growth have clearly reversed and the pigeon’s tail has turned into an inclusive growth if the state-wise per capita income estimates of the Guinea coefficient are any indication that it has improved since FY17, “Ghosh said.
Using GSDP data from FY12 to FY21, the Gini coefficient was constructed to assess the state of income inequality in India. The genetic coefficient is a measure of statistical disparity intended to represent income or wealth inequality in a nation or states or social group. An increase in the coefficient indicates an increase in inequality and vice versa, according to the report.
“Our results show that the broader genetic coefficient in India (in the range of 0. 57 to 0. 58) remains stable throughout the period (FY12 to FY21),” the report said.