Inter generational mobility is an improvement in social status from previous generation.
It is an one of the good measure to evaluate progress in a household. Healthy Intergenerational mobility shows more equal distribution of incomes and consumption in an economy and it leads to inclusive growth. It is also called as social mobility
Recent study from Massachuesetts Institute of Techonology, World Bank, Dartmouth University shows that after Liberalisation, Privatisation and Globalisation (LPG) Reforms in Indian Economy, Intergenerational mobility is remained stagnant. There is a exponential increase in economic inequality in India at the same period.
- Annual Wealth Check report 2019 shows that the top one percent of Indians acquired 39 percent of wealth as against three percent of wealth by the bottom half of the population.
- Global Wealth Report 2018 shows that the top ten percent of Indians have around 77 percent of wealth as against 4 percent of the bottom 60 percent.
- Gini wealth coefficient in India reached around 85 percent in 2018 as against 81 percent in 2008, indicates rising inequality.
- Inequality in Wealth and Income
- Rural Population
- Low level of Education
- Social Factors like caste and religion.