Gaurav Kalra

Economic Growth & Income Inequalities Gaurav Kalra

The Indian economy continues to grow as a global economic powerhouse. India?s development is particularly impressive given the considerable obstacles in fostering economic growth. These obstacles are truly epic with widespread poverty, limited natural resources, and one of the largest populations. While this growth is impressive, India continues to have hundreds of millions in abject poverty and much of the economic prosperity has been fairly localized to specific regions and sectors. At the same time,it is important to note,that India?s economic miracle is a recent phenomenon & that future prospects are far from certain. How well the Indian people & government will be able to channel current growth into long-term prosperity remains to be seen. Moreover, India is an incredibly diverse nation with widely varying cultural, economic, political, and religious norms. Thus, the implications for income equality are indeed significant in maintaining stability in such a large & diverse nation. By comparing India?s economic growth and income equality, one can determine whether the recent economic prosperity has been realized by many or relatively few individuals.