What is the India’s rank in the new global Commitment to Reducing Inequality (CRI) index?
India has been ranked 132nd among 152 nations in a new global Commitment to Reducing Inequality (CRI) index, which was prepared by international NGO Oxfam and Development Finance International (DFI). The new global ranking of governments is based on what they are doing to tackle the gap between rich and poor. The report highlights India’s less-than adequate spending on welfare measures on account of its low tax to Gross Domestic Product (GDP) ratio compared to that of some other nations as well as the disparity between wages of men and women for the same work. India collects just 16.7% of GDP as taxes, while South Africa manages to collect over 27%, pointed out the report. The CRI index ranks nations on the basis of their welfare spending, the progressive nature of their tax system and prevailing wage inequality in the labour market. The list is topped by Sweden, followed by Belgium, Denmark, Norway, Germany and Finland.