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IOC adds 7 medal events to 2022 Beijing Winter Games program        Indian outplay New Zealand 4-2 in hockey series opener        Samsung, Xiaomi corner 60 pc share of India's smartphone mkt in Q2: Canalys        Indo-Pacific must be free, open and and inclusive region: Swaraj        Indian man shot dead in Canada, two suspects arrested        Trump says looking forward to 'second meeting' with Putin        Mob-lynching cases: Govt asks WhatsApp for solutions beyond labelling forwards        Unidentified 'intruder' killed at Indo-Pak border: official        Oppn, Govt brace for no-trust vote today; BJP confident of win, Cong says issue not just of numbers        Centre Forcing AgustaWestland Middleman To Frame Sonia Gandhi: Congress        We were clinical, says England captain Eoin Morgan        Growth has been solid, hope Olympiad will demonstrate it: Anand        Govt working on another verison of UDAN, says Sinha        Talks on between India, Singapore for cruise tourism: Gadkari        'Not too late to save Brexit': ex-foreign secretary Johnson        Canada: Trudeau set to reshuffle govt ahead of 2019 election        Woman alleges rape by Delhi-based singer        Opposition parties commit to fight against any amendment in RTI Act        Tharoor blames right-wing activists for attacks, demands PM intervention        Women have constitutional right to enter Sabarimala temple: SC        
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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.


Samsung, Xiaomi corner 60 pc share of India's smartphone mkt in Q2: Canalys
Indo-Pacific must be free, open and and inclusive region: Swaraj
Govt working on another verison of UDAN, says Sinha
Talks on between India, Singapore for cruise tourism: Gadkari
Govt doubles import duty on over 50 textile products
Walmart partners with Microsoft for cloud solutions
Niti Aayog working on proposal to replace LPG subsidy with cooking subsidy: Kumar
May announces new 2 bn pounds UK-Italian fighter jet project
Mukesh Ambani beats Alibaba's Jack Ma to become richest man in Asia
Rupee up 19 paise against dollar ahead of key macro data release
Sensex rallies 400 pts to hit record high; RIL shares surge 5%
US dollar ends cheaper against rupee
BSNL starts first internet telephony service in India
Silver futures harden by 0.19% on global cues
Passenger vehicle sales rise 38% in June; car sales up 34%
DoT clears Idea-Vodafone merger with conditions
Goyal asks Coal India to ensure supply for power sector
Higher MSP may have inflation, fiscal costs: Report
Modi govt needs to shed 'obsession' with economic growth: Jean Dreze
Will work closely with West Bengal for its progress: Prabhu
KERALA NEWS
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INTERNATIONAL NEWS
Indian man shot dead in Canada, two suspects arrested
 Toronto, Jul 19 (PTI) A 27-year-old Indian man was shot dead by four assailants in his home in Canad
Trump says looking forward to 'second meeting' with Putin
'Not too late to save Brexit': ex-foreign secretary Johnson
Canada: Trudeau set to reshuffle govt ahead of 2019 election
NATIONAL NEWS
Mob-lynching cases: Govt asks WhatsApp for solutions beyond labelling forwards
 New Delhi, Jul 19 (PTI) The government today shot off another notice to WhatsApp asking it to come o
Unidentified 'intruder' killed at Indo-Pak border: official
Oppn, Govt brace for no-trust vote today; BJP confident of win, Cong says issue not just of numbers
Woman alleges rape by Delhi-based singer
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