The government should opt for an approach that brings about a greater equilibrium to society. Credit: Reuters Every country aspires to an equitable society. For most, however, income equality can seem like a utopian idea. The Scandinavian countries prove that an equitable society is not only theoretically plausible but also practically feasible as demonstrated by their Gini coefficients relative to the BRICS nations. The Nordic model, however, cannot be implemented in India, owing to population levels and per-capita income.
The Gini coefficient is a quantitative measure of inequality, presented in the range of 0 to 1, with 1 being complete […]
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