CURRENT AFFAIRS

Detailed explanation-1: -Norway leads the CRII followed by Germany and Australia. The Index which is prepared by Oxfam International and Development Finance International (DFI) measures government policies and actions in three areas proven to have a major impact on reducing inequality.

Detailed explanation-2: -The Norway tops the 2022 index. It is followed by Germany, Australia, Belgium, Canada, Japan, Denmark, and New Zealand. India has been ranked at the 123rd spot, which is an improvement of 6 places since 2020 (ranked at 129th position).

Detailed explanation-3: -The 2022 Commitment to Reducing Inequality (CRI) Index is the first detailed analysis published looking at governments’ policies and actions to fight inequality during the first two years of the pandemic. It reviews the spending, tax and labour policies and actions of 161 governments during 2020–2022.

Detailed explanation-4: -India’s top 1% owned more than 40.5% of its total wealth in 2021, according to a new report by Oxfam. In 2022, the number of billionaires in the country increased to 166 from from 102 in 2020, the report said. Meanwhile, it added that the poor in India “are unable to afford even basic necessities to survive".

Detailed explanation-5: -The 2022 Commitment to Reducing Inequality Index (CRI Index) is the first detailed analysis into the type of inequality busting policies and actions that 161 countries might have pursued during the first two years of the pandemic.