The Indian economy is the third-largest in Asia and also the fastest-growing major economy in the world. India's per capita income has grown steadily over time. However, income inequality has been a persistent problem.
India is one in all the foremost unequal countries in the world, with a high concentration of wealth among a little fraction of its population. the highest 1% of Indians own over 50% of all wealth, while 80% of Indians live on but $10 per day.
India may be a country where the rich are becoming richer and also the poor are becoming poorer. it's also one of the countries with the very best income inequality in the world.
India may be a country with an enormous population and diverse income distribution. it's the second largest population in the world after China. India is additionally one of the fastest-growing economies in Asia, and it's one of the foremost attractive destinations for investors and businesses. However, India’s economy remains largely addicted to agriculture, which accounts for 15% of its GDP and employs 60% of its workforce.
The gap between rich and poor is widening in India similarly to other developing countries because the country’s economic process has been unevenly distributed among different regions and socio-economic groups. The richest 1% hold about 53% of the wealth while 20% own 80%. In contrast, 40% live to tell the tale but $2 on a daily basis (or $1,700 per year).
