India ranks as 4th most equal nation globally
Big news: India just climbed to fourth place globally for economic equality, according to new government data based on World Bank numbers.
The country's Gini Index—a key measure of income distribution—dropped from 28.8 in 2011-12 to 25.5 in FY23, showing things are getting more balanced.
PM Jan Dhan, Direct Benefit Transfer initiatives helped people
This progress isn't random—initiatives like PM Jan Dhan and Direct Benefit Transfer have helped more people access banking and support, especially those who need it most.
These efforts have narrowed the gap between different income groups across the country.
India now in 'moderately low' inequality group
India now stands with several European countries in the "moderately low" inequality group.
In the last decade, 171 million people have escaped extreme poverty and poverty rates are down to just 2.3%.
But there's still a catch: wealth inequality remains a challenge, so there's room for improvement ahead.