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Nishan

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· 1 Months ago

wrong mark (Question:181194.1)

the correct option none of the above is not given

Question:

DIRECTIONS: Read the following passage carefully and answer the given set of questions. 


The Global Wealth Data book reveals some startling facts. The richest 1 per cent of Indians today own nearly half (49 per cent) of India’s personal wealth. The rest of us 99 per cent are left to share the remainder among ourselves. And that too is very unequally shared. The top 10 per cent Indians own nearly three-quarters (74 per cent) of the country’s personal wealth. The remaining 90 per cent share a meagre quarter. At the other end of the spectrum, of the world’s poorest 20 per cent people, nearly one in four are Indians. Just to show by contrast, China’s share is a mere 3 per cent.


One view of India’s inequality is that this is nothing to be worried about. This is the normal progression of economic development. A set of expanding industries located in an urban area induces further development of economic activity throughout its zone of influence. For some years, this generates increasingly large differentials in income and development, but after reaching a maximum level, inequality begins to decline, in the manner of an inverted ‘U’, what economists call the Kuznets Curve. In U.S President John F. Kennedy’s memorable phrase, “a rising tide lifts all boats”.


Now, there is no doubt that poverty has declined significantly in recent times in India. But can we say the same about inequality? The Credit Suisse report gives an unequivocal answer: No. Even nearly three decades after economic reforms and high growth, inequality continues to rise and wealth has become even more concentrated at the top. The share of India’s richest 10 per cent families has grown from 66 per cent in the year 2000 to 74 per cent today. India’s super-rich (top 1 per cent) who owned 37 per cent of India’s personal wealth in 2000, have even more rapidly increased their share to 49 per cent.


This kind of regressive change surely has a link with the crony capitalism of the last three decades. Hopefully the Indian electorate, very exercised over corruption, will place sufficient pressure on the ruling classes for this to change sooner rather than later. Meanwhile, millions of Indians do not find themselves a part of the growth story. And there is growing resentment over this gaping inequality. With greater access to the electronic media across the country, the differences are glaringly visible for those at the base of the development pyramid. Inequality in India operates on multiple axes of gender, class, caste, region, religion and ethnicity. But perhaps the worst suffering is of India’s tribal people, who suffer a double whammy of both disadvantaged region and ethnicity.

Which of the following is not true according to the passage?

Options:
A) Inequality in India appears to have deepened in the past two decades
B) Poverty has declined significantly in recent times in India
C) Of the world’s poorest 20 per cent people, nearly one in four are Indians
D) Only (b) and (c)
E) None of these
Solution:
None of these

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