Increasing Economic Inequality in India and Policy Suggestion
13 Pages Posted: 20 Mar 2015
Date Written: February 23, 2015
Increasing economic inequality has become a cause of concern for the developing countries like India, where economic growth and income inequality go hand in hand. The benefits of New Economic Policy (NEP) have reached only at the selected few and a vast majority of populace remain deprived of it. It means the dividends of globalization and liberalization have not reached at the people who need them the most. The present paper tries to find out the reason behind this income inequality in India during the post globalization era and explore the possible options to bridge the gulf between rich and poor. The objective of the author is not to raise a voice against globalization but plead for more equitable distribution of the benefits of the globalization.
Keywords: Internationalization of production, income inequality, career entrapment, skill matching, socio-economic development
JEL Classification: J78
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