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To Download the FREE PDF of Lecture 1 to 30, Click on the link below and REQUEST ACCESS to the pdf: https://drive.google.com/file/d/1CL4Z... For any queries or doubts regarding exam preparation, Fill the google form below and we will revert back over Email or Whatsapp: https://forms.gle/FoatafJ3LsynCGCo9 Some Standard Books for UPSC Economics preparation Indian Economics by RAMESH SINGH (12th revised edition) - https://amzn.to/3yyoTsa Complete set of NCERT Economic Books (9th to 12th) - https://amzn.to/34cwgaU The Indian Economy by Sanjiv Verma - https://amzn.to/3fcaLx8 Lecture 19 CONTENT - WHAT IS INEQUALITY? | MEASUREMENT OF INEQUALITY| QUINTILE RATIO| PALMA RATIO INEQUALITY As per UN, Inequality—the state of not being equal, especially in status, rights, and opportunities • Economic inequality: differences in terms of income or expenditure or wealth of different sections of society. • Social inequality: differences among people due to social factors such as caste, religion, region, gender etc. • Both are interrelated and interdependent also If Economic inequality reduces, the social inequality will also reduce and vice-versa. For example, if an individual becomes rich, the social status of the increases. If there is social inequality- gender discrimination in terms of education, then it will also lead to economic inequality as an uneducated woman cannot find desirable job. Measurement of inequality Difference in Income: On the basis of NSSO data Population Aggregate income % share in total national household disposable income Top 20% 45% (approx.) Bottom 20% 8% (approx.) Quintile ratio It is calculated as the ratio of total income received by the 20 % of the population with the highest income (the top quintile) to that received by the 20 % of the population with the lowest income (the bottom quintile) India quintile ratio= 45/8 = 5.6 Higher the quintile ratio more is the inequality. Palma Ratio (Richest 10% of the population’s share of gross national income (GNI) )/(Poorest 40% of the population’s share of gross national income (GNI) For India, Palma ratio = 30/20 = 1.5 #indianeconomybyrameshsingh #IASpreparationonline #indianeconomynotes #freeIASpreparationmaterial #upscpreparation 2021 #upscpreparation2022 #indianeconomyupsc book #IASpreparationbooks #IASpreparationsyllabus #IASpreparation in Hindi #booksforupscpreparation #upscsyllabus #upscfullform #upscresult #upscexamdate2021 #upscexam date 2020 #upsccse #upscrecruitment #pcsexam #whatisinequality #inequality #measurementofinequality #quintileratio #palmaratio