Growth and Inequality
Inclusive growth is when more and more Indians benefit from the growth of the economy, by way of better incomes and a better quality of life. Has this happened so far? The answer is yes, it has happened to a certain extent, but has not happened enough. To say that there has been no “trickle down” at all to the common man, of the benefits of economic growth is belied by all available statistics of income and consumption. Practically, everyone is earning more today than they were the previous year or the year before that, or even the generation before that. Yes, those who were at the top half of the income ladder to begin with, have had their incomes grow much more than those who were in the bottom half. But the rising tide has lifted the average income of the bottom 25% of Indians also. But this unfortunately […]