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Saturday
September 2018
6:57 AM IST
News Headlines
Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect        Three kidnapped cops killed by terrorists in Jammu and Kashmir        Freak penne trending with dislikes and trolls        Kannur International Airport: Kerala to be the first state with four international airports        Kim, Moon join hands on peak of sacred North Korean volcano        Birthday boy Rashid stars in Afghanistan's 136-run win against Bangladesh        Shahbaz Nadeem claims eight wickets; breaks List A world record        CAT 2018: Registration extended to Sept 26; Admit card to Release on Oct 24        BAI distributes 1.6 crore to state Association        Rodrigues, Yadav help Indian women take 1-0 lead in T20 series        Sensex recovers over 100 points on value-buying, global cues        Deepak Kapoor Appointed the new Chairperson of Save the Children        Palestinian schools strive to modernize classrooms        Trump: Declassified Russia probe papers expose 'bad things'        2 history-sheeters arrested following encounter: Police        Attack on Cong workers in Chhattisgarh is political persecution: Rahul Gandhi        Cabinet clears ordinance to make triple talaq penal offence Law Minister        Instant Triple Talaq to be criminal offence        Viswasam- On set photos leaked        Aiswarya- Abhishek's Gulab Jamun would go on floor in mid 2019        
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Business News
Inequality increased in China, India and US: IMF
 
Washington, Oct 11 (PTI) Despite a sharp fall in inequality around the world, the US, China and India have witnessed upward trends in its level, the IMF said today.

The International Monetary Fund said that despite the relevance of education, health and progress in recent years, gaps of access to quality education and healthcare services between different income groups in the population remained in many countries, including in advanced economies.

"If one focused on citizens around the world, global inequality has trended down sharply in recent decades, and that is a change from the upward trend since the beginning of the 19th century," Vitor Gaspar, the Director of the IMF Fiscal Affairs Department, told reporters on the occasion of release of the annual Fiscal Monitor report here.

Declining global inequality reflects mainly catching up across countries, he said, adding that differences in per capita income between countries account for about two-thirds of global inequality in 2015.

In contrast, if one looks at inequality country by country, it become obvious that most people around the world live in countries where inequality has increased.

"It is important to emphasise that inequality has increased in the largest countries in the world: China, India and the United States," he said.

"More broadly, if we focus on inequality within countries, we observe that over the past three decades inequality has increased in about half of the countries around the world, particularly in advanced economies," Gasper said.

Investments in education and health help reduce income inequality over the medium term, address persistent poverty across generations, enhance social mobility, and ultimately promote sustainable and inclusive growth, the IMF official said.

Building human capital is perhaps the best insurance against job insecurity due to rapid technological change, he said.

"Fiscal policy is a powerful instrument for inclusive and sustainable growth. Fiscal policy can make the difference," Gasper said.

According to the report, global inequality measured across all citizens of the world by abstracting from national borders has been declining in recent decades, reflecting strong income growth in some large emerging market economies such as China and India.

However, the picture of inequality within countries is mixed. While income inequality has increased in most advanced economies, trends in other economic groups have been more varied.

In fact, inequality has declined in almost half the countries for which data are available, the report noted.

Asserting that economic growth is fundamental, the IMF said that in many countries, growth has ensured that increases in inequality are compatible with improving living standards for households across all deciles of the income distribution, although there are significant differences across countries regarding the extent to which growth has been inclusive.


Sensex recovers over 100 points on value-buying, global cues
Deepak Kapoor Appointed the new Chairperson of Save the Children
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Adani Capital to raise Rs 1,000 cr in growth capital in FY19
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SBI hikes benchmark lending rate by 0.2 pc
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IBA elects PNB's Sunil Mehta as chairman
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India expected to surpass Britain to become world's 5th largest economy next yr: FM
DeMo led to more tax collection, higher growth: Jaitley
Company director sent to 6 months jail for TDS default
Petrol, diesel at new high; govt hopes it is temporary
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i  
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
INTERNATIONAL NEWS
Kim, Moon join hands on peak of sacred North Korean volcano
 (Pyongyang, Sep 20, 2018):The leaders of the rival Koreas took to the road for the final day
Palestinian schools strive to modernize classrooms
Trump: Declassified Russia probe papers expose 'bad things'
100 die in severe flooding in Nigeria: relief agency
NATIONAL NEWS
Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect
 While India won the match against Pakistan in Dubai, one Pakistani youth won the hearts of all India
Three kidnapped cops killed by terrorists in Jammu and Kashmir
CAT 2018: Registration extended to Sept 26; Admit card to Release on Oct 24
2 history-sheeters arrested following encounter: Police
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