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India's income inequality doubles
Income inequality in India has doubled over the last two decades, according to a report by the Organisation for Economic Cooperation and Development (OECD) report.
These findings make India the worst performer on wage equality in all emerging economies, with ten per cent of wage earners in India making 12 times more than the bottom ten per cent, Hrm Asia reports.
"The main driver [of this increasing ratio] has been the increase in wage inequality between regular wage earners and contractual employees hired over a period of time," the OECD report claims.
However, wage inequality in the casual wage sector has been more stable.
India currently has the highest amount of workers in informal employment than any other emerging economy.
Nonetheless, in the two decades Manmohan Singh has been in power, per capita income in India has grown from $309 to $1,477 - a higher level of growth than that experienced during expansion in the US and Japan.
Posted by Editorial Team
