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Income inequality and corruption UPSC NOTE

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  Correlation Between Income Inequality and Corruption in India The top 1% in India control more than 40% of total wealth , leading to great...

 Correlation Between Income Inequality and Corruption in India

  • The top 1% in India control more than 40% of total wealth, leading to greater economic disparity and potential corruption.

  • Greater income inequality often results in increased corruption, as wealthy individuals and businesses might exploit their influence for personal gain.

  • Piketty Measure: The ratio of income held by the top 1% compared to the bottom 50% highlights extreme inequality, which is correlated with higher levels of corruption.

  • High levels of speculative investments contribute to income inequality and correlate with higher corruption levels.

  • Rising inequality drives rent-seeking behavior, where resources are diverted to gain unearned benefits rather than creating value.


Role of Government in Combating Corruption

  • Implement strict regulations to prevent corruption, especially in areas with significant government-business interactions.

  • Enhance transparency in government processes and contracts to reduce corruption.

  • Improve the judicial system’s efficiency and ensure high conviction rates to build trust and deter corruption.

  • Use progressive tax policies to address income inequality and reduce the opportunities for corruption.

Way Forward

  • Implement policies to lower income inequality through progressive taxes and inclusive economic strategies.

  • Enhance transparency and accountability in regulatory agencies to prevent corrupt practices.

  • Strengthen the judiciary to effectively prosecute and deter corruption.

  • Foster competitive practices in politics and business to minimize rent-seeking.

  • Increase public trust in institutions by addressing corruption and implementing effective reforms.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Income inequality and corruption UPSC NOTE
Income inequality and corruption UPSC NOTE
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Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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