
India beats US, China, G7 & G20 nations to become one of the world's most equal societies: Here's what World Bank says
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India has been ranked as one of the most equal countries globally when it comes to income, according to the latest data released by the World Bank. With a Gini Index of 25.5, India now stands fourth in the world for income equality, behind only the Slovak Republic, Slovenia, and Belarus.The Gini Index measures how income is distributed in a country. A score of 0 means perfect equality, while 100 means maximum inequality. India's new score places it ahead of developed countries like China (35.7) and the United States (41.8), as well as all G7 and G20 nations. Back in 2011, India's Gini Index was 28.8, showing steady improvement over the years.The Ministry of Social Welfare said in a statement, 'This shows how India's growth is being shared more fairly among its people. The government has focused on reducing poverty, increasing financial access, and giving welfare help directly to those who need it.'From 2011 to 2023, 171 million Indians moved out of extreme poverty, as per the World Bank's Spring 2025 Poverty and Equity Brief. The extreme poverty rate dropped from 16.2% to just 2.3%, based on the global poverty line of USD 2.15 per day.Key government schemes making a difference:
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Karnataka govt offers 50% concession on pending traffic fines till September 12
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Indian Express
20 minutes ago
- Indian Express
States raise revenue loss concerns: GoM backs Centre's plan for GST rate rationalisation
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While Bihar's Deputy Chief Minister and GoM convenor Samrat Choudhary spelt out the panel's support for the GST overhaul proposal, he said observations made by states will be referred to the GST Council. Detailed discussions on items will be taken up in the Council, he said. 'We have deliberated upon the Centre's proposal to remove the two GST slabs, we have given our support and recommendations. Now, the GST Council will decide. All states gave their views, there were some observations by some states. Those will be referred to the GST Council,' Choudhary said. The differing views and observations of states on revenue loss and concerns over profiteering by manufacturers and companies will be part of the note that the GoM will send to the Council along with the Centre's proposal. Some states were also of the view that the work done by the GoM over the last few years will now essentially be wasted as they would be simply handing over the Centre's proposal to the GST Council. 'We have neither approved nor rejected it. Centre cannot give its proposal directly to the Council, so we will be just handing over the Centre's proposal to the Council,' a top state government official told The Indian Express. States are learnt to have sent their suggestions for the GoM's note on a mechanism to compensate states that will address their revenue loss concerns. States are anticipating annual revenue loss of Rs 6,000-10,000 crore, the official said. West Bengal's Finance Minister Chandrima Bhattacharya echoed a similar view and said they are 'okay with the pro-people proposal' but it is not an agreement. The Centre's proposal has not outlined the figure for revenue loss on account of the GST rate rationalisation and the proposal should not move ahead without detailing a mechanism for compensating states for revenue loss. 'It's not an agreement in that way. If it's there, it is okay. If it is pro-people, then it's okay. But it has to be discussed in the Council's meeting also. There is no benefit in discussing it item-by-item in the GoM meeting. It will be discussed item-by-item in the (GST) Council meeting. While presenting a report to the GST Council, they will give a note of what we have said,' she said. Bhattacharya said no state had any issue in accepting the pro-people GST overhaul proposal. 'All states are pro-people. There is no doubt about it. It's nothing to talk about in politics. They are pro-people, let us take it for granted. But when the states lose their revenue, that also ultimately goes back to common people. That has to be looked into. That is what we have said,' she said. 'Because to give relief to common people should not mean that there isn't much left to spend on them after that, we have to think about that. That's why we have said that while you give the presentation, you must quantify it (revenue loss),' she said. She also said that ministers from BJP-ruled states have concurred with the suggestions. 'But we have said we are there, if it benefits people, we are okay. On the one hand it reaches people and on the other hand see what is the loss we (states) are facing. Ultimately if a state suffers any loss, that ultimately boils down to the suffering of the common man,' she said. Uttar Pradesh's Finance Minister Suresh Kumar Khanna said the Centre's proposal was welcomed by all member states saying it is in the interest of the common man. 'States were asking that they should be compensated for revenue loss. The revenue loss will be calculated. Ultra luxury goods and sin goods will attract 40 per cent,' he said. Revenue loss concerns of states stem from the plan to prune the list of items in the 12 per cent slab and shift them to 5 per cent. There is also a concern that most items the existing 28 per cent slab. 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Hindustan Times
20 minutes ago
- Hindustan Times
Assam to halt Aadhaar issuance for adults from October 1 to curb infiltration: CM Sarma
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