Commitment to Reducing Inequality (CRI) Index 2024 released | Current Affairs | Vision IAS
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Commitment to Reducing Inequality (CRI) Index 2024 released

Posted 24 Oct 2024

2 min read

CRI has been released by Oxfam and Development Finance International. 

  • CRI assessed the commitment of 164 countries and regions to fighting inequality.
    • SDG 10 aims to reduce inequality. 
  • It assessed the performance on the basis of three parameters: Public Services Spending, Progressive taxation and Labour rights and wages.

Key Highlights of the Index  

  • Ranking
    • Top performers: Norway, Canada, and Australia
    • Worst performers: South Sudan, Nigeria, etc.
    • India’s rank: 127
      • Other South Asian countries such as Nepal (115) and Sri Lanka (118) have performed better than India. 
  • Rising Inequality: 
    • Gap between the Global South and the Global North has suddenly grown more rapidly than at any time since World War II. 
    • Billions of people face the terrible hardship of high and rising food prices and hunger, while the number of billionaires has doubled in the last decade. 
    • Key Driving Factor: Conflict, debt crisis, and climate shocks,  these are constraining spending in low- and lower middle-income countries. 
      • 84% of countries have reduced their spending on education, health and/or social protection.

Key Recommendations to Reduce Inequality 

  • Put in place realistic and timebound National Inequality Reduction Plans (NIRPs) to reduce inequality, with regular monitoring
  • All countries should ensure that health budget is at least 15% of total public expenditure and education 20%
  • Increase progressive taxation by taxing the income of the richest 1%

Measure taken to reduce inequality in India

  • Job Creation: E.g. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
  • Financial Inclusion: E.g. PM Jan Dhan Yojana
  • Education and Skilling: E.g. Right to education Act, 2009 
  • Other: Startup India, etc.
  • Tags :
  • Inequality
  • Oxfam Report
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