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Income Inequality

In: Revisiting Regional Growth Dynamics in India in the Post Economic Reforms Period

Author

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  • Biswa Swarup Misra

    (Xavier Institute of Management)

Abstract

Higher growth is desirable as it expands the scope of opportunities for people at one end and on the other, serves as a necessary condition for higher public spending to bridge the divide between the haves and have nots. However, if benefits of growth are confined to few pockets in the society or are shared by a narrow stretch in the vast geography it can create dissension and pose a danger to the moral and social fabric of the country. As promoting inclusive growth has been the guiding principle of the Indian government’s policy initiatives, the benefits of growth need to be broad based, not only for humanistic concerns but also for the necessary popular support for sustenance of the growth process. The high growth witnessed in the post-reform phase emphasises the role of markets in improving the efficiency of the system. The critiques of a market-driven approach often resort to anecdotal evidence to point out the inability of the poor to participate effectively in the market process. Whether such criticisms hold water can be ascertained by analysing the distributional dimensions of growth.

Suggested Citation

  • Biswa Swarup Misra, 2013. "Income Inequality," Palgrave Macmillan Books, in: Revisiting Regional Growth Dynamics in India in the Post Economic Reforms Period, chapter 4, pages 81-111, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-30368-4_4
    DOI: 10.1057/9781137303684_4
    as

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