India is suddenly in the news for all the wrong reasons. It is now hitting the headlines as one of the most unequal countries in the world, whether one measures inequality on the basis of income or wealth.
So how unequal is India? As the economist Branko Milanovic says: “The question is simple, the answer is not.” Based on the new India Human Development Survey (IHDS), which provides data on income inequality for the first time, India scores a level of income equality lower than Russia, the United States, China and Brazil, and more egalitarian than only South Africa.
According to a report by the Johannesburg-based company New World Wealth, India is the second-most unequal country globally, with millionaires controlling 54% of its wealth. With a total individual wealth of $5,600 billion, it’s among the 10 richest countries in the world – and yet the average Indian is relatively poor.
Compare this with Japan, the most equal country in the world, where according to the report millionaires control only 22% of total wealth.
In India, the richest 1% own 53% of the country’s wealth, according to the latest data from Credit Suisse. The richest 5% own 68.6%, while the top 10% have 76.3%. At the other end of the pyramid, the poorer half jostles for a mere 4.1% of national wealth.
What’s more, things are getting better for the rich. The Credit Suisse data shows that India’s richest 1% owned just 36.8% of the country’s wealth in 2000, while the share of the top 10% was 65.9%. Since then they have steadily increased their share of the pie. The share of the top 1% now exceeds 50%.
This is far ahead of the United States, where the richest 1% own 37.3% of total wealth. But India’s finest still have a long way to go before they match Russia, where the top 1% own a stupendous 70.3% of the country’s wealth.
B, it also has it in the name.
Answer:
Overtime pay
Explanation:
Tax deduction will include all the things that will decrease the amount of tax that you have to pay to the government. This will include things such as working expense, Pension, Medicare, etc.
Overtime pay is the number of additional payment that your employer give you everytime you do more work hour than the one mentioned in your contract. (For most people, it would be if they do any additional job beyond 5 PM).
Overtime pay increase the overall taxable income that you have to pay. So rather than acting as a tax deduction, it will actually will inflate the number of tax that you to pay.
Answer:
A banana is a fruit.
Explanation:
Bananas grow on trees.
The bananas we eat are genetically modified to not have seeds.
Wild bananas are almost inedible because of the number of seeds they contain.
None Learn with flashcards, games, and more — for free. ... an economic system (Europe in 18th C)based on a nation exporting more goods than it imports ... a dramatic rise in prices ..
