India’s economy might be growing at a faster rate than many developed nations, but at per capita level, its growth rate of income is the lowest among emerging economies.
A recent report by the World Bank shows that between 2008 and 2013, per capita income in China grew at 8.23% for overall population and 8.87% for the poorest 40%. India, however, not only witnessed a slower overall growth in comparison, but also a 2.7 times slower growth among the bottom 40%, indicating slugging closing of the inequality gap.
Graphics: The Times of India
Graphics: The Times of India
(TNN)