[UPSC-Economic Series]-Lecture 20 - Lorentz Curve| Gini Coefficient| CRI Index [IAS/ RBI/ SEBI/ PCS] скачать в хорошем качестве

[UPSC-Economic Series]-Lecture 20 - Lorentz Curve| Gini Coefficient| CRI Index [IAS/ RBI/ SEBI/ PCS]

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 20 CONTENT - LORENTZ CURVE| GINI COEFFICIENT| INEQUALITIES IN WEALTH| COMMITMENT TO REDUCE INEQUALITIES (CRI) INDEX: BY OXFAM INTERNATIONAL| CAUSES OF INEQUALITY| GOVERNMENT MEASURES TO REDUCE INEQUALITIES Lorentz curve by M.O. Lorentz • It is the graphical method to represent inequality. It is a square diagram. • The Cumulative percentage of population is plotted against cumulative percentage of income/ expenditure/ wealth. • The gap between this curve and the 45° line (Line of Absolute equality) is the inequality gap. The farther the curve from this 45 degree line, the greater is the variability present in the distribution of income. • Unequal distributions will yield a curve. More deviation from the line of absolute equality- more inequality GINI COEFFICIENT Given by C. Gini It is based on the Lorentz curve. G= (Area between 45-degree line and Lorentz curve)/(Area below 45-degree line Gini coefficient varies between 0-1. A value of 0 indicates perfect equality (where everybody has the same wealth/income) and 1 indicates perfect inequality (that is, where one person owns all the wealth in a country). As per the World Bank, India’s Gini Index is 35.2 (0.35) as of March 2020. For USA Gini coefficient is 0.41. However inequalities are more in developing countries than developed countries. Mostly, in developed countries Gini coefficient is around 0.3 Inequalities in wealth According to OXFAM report: by Oxfam International, a non-governmental organisation. As per OXFAM report 2019 • Top 1% of the Indian population accounts for 51 % of the total wealth of the country. • Top ten percent of the Indian population has 77 % of the total wealth of the country. • wealth inequality in India is high in comparison to income inequality. Population Wealth (as per OXFAM) Income( as per HDR) Top 1% 51% (approx.) 21%(approx.) Top 10% 77%(approx.) 30%(approx.) Inequality in wealth is high and is further increasing in India. As per the Oxfam report 2019, for the year 2018-19, the wealth of the top 1 % of the population grew by 39 percentage. Where is the wealth of the bottom 50 % of the population, grew by only three percentage. The inequalities have further increased due to Covid-19. Government need to make more efforts to decrease inequalities. In India, inequality is increasing but poverty is reducing. Commitment to reduce inequalities (CRI) Index: by Oxfam International • It measures commitment/ policies priorities of the government to reduce inequality • Released in October 2020 It is based on three pillars 1. Public services pillar e.g. expenditure on Health, education 2. Progressive tax pillar 3. Worker’s rights Overall, India ranked 129 in the CRI index out of 158 countries India’s health budget was the fourth lowest in world. weak labour rights and high incidence of vulnerable employment. Most workers earn less than half of the minimum wage, CAUSES OF INEQUALITY • Differences in ownership of land and wealth • Institution of Private property • Inheritance laws • Scarcity of Capital • Unemployment and poverty • Inadequate physical and social infrastructure • The difference in access to education and training and credit. • The inherent difference in the abilities of individuals • Leakages in the government’s development expenditure and corruption. GOVERNMENT MEASURES TO REDUCE INEQUALITIES • Land reforms • Support to MSMEs • Progressive taxes • Constitutional measures • Nationalism of banks • Establishment of PSUs • Developmental programmes- • MGNREGA, USTAD, Nai manzil, PM Gram Sadak Yojana , Beti Bachao Beti Padhao , Ayushman Bharat • social security programmes e.g. Old Age Pension etc. • Nutrition programmes e.g. PDS, Mid-day meal etc. • education programmes e.g. Sarva Shiksha Abhiyan • #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 #lorentzcurve #ginicoefficient #inequalitiesinwealth #commitmenttoreduceinequalitiesindex #criindex #oxfaminternational #causesofinequality #governmentmeasurestoreduceinequalities