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India beats US, China, G7 & G20 nations to become one of the world's most equal societies: Here's what World Bank says
India beats US, China, G7 & G20 nations to become one of the world's most equal societies: Here's what World Bank says

Time of India

timea day ago

  • Business
  • Time of India

India beats US, China, G7 & G20 nations to become one of the world's most equal societies: Here's what World Bank says

What is driving India's equality success? Live Events PM Jan Dhan Yojana: Over 55 crore bank accounts opened to boost financial inclusion. Aadhaar: India's digital ID now covers 142 crore people, helping deliver welfare directly through Direct Benefit Transfers, which saved Rs 3.48 lakh crore by March 2023. Ayushman Bharat: Free health coverage of Rs 5 lakh for families; over 41 crore health cards issued. Stand-Up India: Helps SC/ST and women entrepreneurs with loans and support. PM Vishwakarma Yojana: Provides help for artisans through training and loans. PMGKAY (Free Food Scheme): Supports over 80 crore citizens with food security. Inputs from ANI (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel 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 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 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 government schemes making a difference:

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