The paper "Widening Gap between the Poor and the Rich in India" is a perfect example of a micro and macroeconomic case study. The concept of attempting to have equality in economic terms has become a very elusive goal for most countries all over the world. This is partly due to the fact that equality is a mirage of imagination. The disparities that exist between individuals for instance is because of the mere fact that people are not the same and neither do they have the same abilities. Some people have athletics talent like Usain Bolt, and economic production to match that of Mark Zuckerberg.
If for instance there were no platforms for Bolt and Mark Zuckerberg to showcase their abilities, then most people would presume that all humans have similar abilities. Once one is given an opportunity and the infrastructure to work on, then a very clear distinction will come out between that person who has more abilities and the ordinary human being. There are so many countries across the countries that appear to have achieved equality or at least there appears to be equality.
In the same way, in those countries whose economies are slowly growing, one might not witness so many inequalities. Take Pakistan for instance, has far much fewer income inequalities compared to the United States of America, China, and South Korea. This does not necessarily mean that things are good in Pakistan or other countries with similar economies. It simply means that the disparities in income come as a result of both positive and negative reasons. The Indian economy has witnessed tremendous growth in the last decade, and so has the disparities between the poor and the rich.
This essay aims to identify the reasons that make the disparities in the incomes between the rich and the poor in India. An insight into the distribution of income in India India today boasts having the third-largest number of billionaires across the world and, at the same time, it is home to the third-highest population of poor and hungry people in the world. From only two individuals with 3.2 billion dollars in the mid-1990s, the number of billionaires has steadily grown to 46 with an aggregate wealth estimated to be 176 billion dollars in 2012 and at the same time witnessing their growth in gross domestic product from 1 percent to 10 percent during the same period (Bhide & Shand, 2000).
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