NEW DELHI New Delhi: A State Bank of India (SBI) report released on Friday said income inequality coverage for those earning up to Rs 5 lakh annually is expected to increase by an overall 74.2 per cent between financial years 2013-14 and 2022-23. There has been a decline. To clarify the “often prevalent myth of worsening inequality” in India, the research report by the Economic Department of SBI analyzed the income inequality curves of Assessment Year (AY) 2014-15/FY 14 and AY 24/FY 23. Have done.
A comparison of income inequality during AY 15 and AY 24 shows that there has been a clear rightward shift in the income distribution curve, meaning that people in the lower income groups are increasing their income towards their share in the population. Yes, it has been said in the report.
The report titled 'How tax simplification has given a much-needed boost to ITR filings' said, “Our analysis shows that income inequality coverage for those with income up to Rs 5 lakh declined by 74.2% overall This shows that the government's continued efforts are reaching the bottom of the pyramid – thereby increasing the income of the 'low income group'.” For those with income up to Rs 3.5 lakh, the share in income inequality has declined from 31.8 per cent in FY14 to 12.8 per cent in FY21, meaning the share of this group has declined 19 per cent faster than their population. Has increased from income. It said the lower income group (less than Rs 5.5 lakh) has recorded positive growth rates for all years (except AY20 due to the Covid pandemic) in the last decade.
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