IMF chief economist Gita Gopinath says 1 per cent of population in India is cornering 21 per cent of national income
IMF chief economist Gita Gopinath said here on Monday that globalisation has helped reduce extreme poverty worldwide but there was a backlash against it due to rising income disparity.
She was delivering the Golden Jubilee Endowment Lecture on ‘Globalisation: Current Challenges and the Need for Cooperation’ organised by the JSS Mahavidyapeetha in the city.
Ms. Gopinath said the big wave of globalisation from late 1990s reduced poverty significantly and the population below the poverty line which was 42 per cent in the late 1980s and early 1990s, was down to around 10 per cent in the present times. It helped reduce extreme poverty in India, China and other countries.
But there was also a disparity in income and though absolute poverty had declined over time, the income disparity and the gap between the rich and the poor has increased across the world.
Source: The Hindu
