India the Second Most ‘Unequal’ Country in the World: Gini Index

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After Russia India becomes the second most “unequal” country in the world, with more than half of total Indian wealth controlled by millionaires according to the report of Johannesburg-based wealth research firm New World Wealth.

  • 54% of India’s wealth is controlled by millionaires. Whereas Russia is the first unequal country with 62% of the total nation controlled by millionaires
  • India belongs to the list of 10 richest countries in the world with a total individual wealth of $5,600 billion but the average Indian is quite poor.
  • This report  has measured all the aspects of person such as:
  • Property
  • Cash
  • Equities
  • Business interests
The most unequal regions in the world

The most unequal regions in the world

The most unequal regions in the world

Other Countries:

  1. Japan is the most “equal” courtly with only 22% of total wealth controlled by millionaires.
  2. US is surprisingly “equal” with 32% of total wealth of nation.
  3. Britain is “equal” with 35% of total wealth of nation.
  • Along with this Russia has also topped index of proportion of a country’s wealth held by billionaires with 26% wealth held by ballooners.
  • And Japan also survives in this index as “equal” with only 3% billionaire controlling the wealth of country.

About Gini Index

  • The Gini coefficient or Index measured statistical dispersion intended of the income distribution of a nation’s residents (or measure of inequality).
  • Italian statistician and sociologist Corrado Gini developed Index annually.

How Gini Index measures

  • Zero = Perfect Equality
  •  same values=  Same Income of Every Person of nation
  • 1 = Maximal Inequality

- Published/Last Modified on: September 8, 2016