According to the recently released Ecowrap report of the State Bank of India (SBI), there has been a steady decline in income inequality in India since the year 2017. SBI Ecowrap said that India performed well even during the corona virus epidemic when people’s income was going down rapidly.
The report states that the GSDP (Gross State Domestic Product) of almost all the states in the country is increasing. If the per capita income is estimated state-wise from the Gini coefficient, then since 2017 there is an increase in it. India performed well even during the Corona era, when the income of all the people in the country was declining.
It further said that the median income of the states increased from Rs 18,118 in 2001-02 to Rs 68,845 in 2011-12 and Rs 1,74,024 in 2021-22, while the disparity among the states has reduced significantly. According to the report, the coefficient of variation in the per capita income of the states decreased from 76 per cent in 2011-12 to 67 per cent in 2021-22.
It has been told in the SBI report that Sikkim and Goa are at number one in per capita income in India. The average per capita income of both the states is 3 times the average per capita income of all the states of the country while Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Rajasthan and Uttar Pradesh are at the lowest ranks in terms of per capita income in the country.
In this report of SBI, the difference between GDP and GNI has also been told, which is about 1 percent. GDP (Gross Domestic Product) is the total market value of goods and services produced within a country in a given time period while GNI (Gross National Income) is defined as the total income received from residents and businessmen of the country.