Question

What is the current status of poverty and inequality in India

Answer 1

Answer) India is a South East Asian country with population of about 1.38 billion. Due to a huge population and limited resources, the nation is facing two evils simulateously. Namely:

1. Poverty: As per India's Central bank bank about 363 million people of india earn below $1 per day. The poverty line refined by the World Bank. This results in limited/ no access to health, education, and good jobs. Ultimately causing the vicious cycle of poverty to prevail perpetually.
2. Inequality: according to Oxfam report of 2019, 73% of total wealth of India is owned by top 1% of the population. This relative deprivation has caused tension among different sections leading to hate crimes and ghettos formation.

The two evils of poverty and inequality can only be addressed by incorporating egalitarian distribution. This can be achieved by taxing high net worth individuals and using the the tax revenue collected to provide subsidy to the lower rung.