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.
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Shipping and trading was a source of income
Indigo, Rum, Ship building, raw materials, tobacco (CT), Whaling, fishing
Answer: Philosophical and theoretical frameworks used within a discipline to formulate theories, generalisations, and the experiments performed in support of them
Explanation: When a particular idea, attitude or opinion is implemented and begins to prove itself to be true and applicable, it becomes applicable in such a way that it is further expanded and applied even more, then that idea, attitude or opinion becomes a standard, or some kind of standard. That standard is actually a form or a guide how to do something, think about something or have an attitude. That standard, a pattern that has proven to be accurate and applicable in a way that is almost universally accepted, is a paradigm.
This standard, as it stated in question, may also be called a framework, that is, a generalised opinion about something, but only after it has been proven in practice, that is why it is said that experiments must practically prove and support an idea, theory, standard. The paradigm can be in the philosophical or scientific discipline but also in other spheres of life, such as in business, rules in language, etc.
Answer: My commitment is currently to do my best as a psychologist to contribute to the well-being of children in vulnerable conditions.
Explanation:
I work as a psychologist with children of initial and primary level in a low-income school. The school is located in an area where there are many deficiencies, which is defined as a school with vulnerability. One of my biggest commitments is to do a good job daily to help children with various difficulties.
The lack of basic elements is not only present but also that many of these children are in environments that interfere negatively with their education. Many receive both physical and verbal abuse, family dysfunction is present in their homes, the difficult way to get to school and often not having to eat also influences. Every day I try with a smile to lift the spirits of a child, I always listen to them and try to have the best attitude with them. I commit to being a positive figure in their lives, where they understand that there are people in the world who are willing to help and who can also trust.
My commitment also involves helping them and in turn, they help me because they teach me that from humility many things can be achieved. Every day I promise to improve in some areas where I am failing since these children need the best to overcome their adversities. Within my commitment is to be a model for them, where I take care of my expressions and my actions so that they are motivated to copy positive behaviors.
It is a difficult job but at the same time gratifying, there is no better gesture than listening thanks to someone who has helped you to overcome.
