The story so far: A recent report by the World Bank has generated significant debate with regard to the true picture of inequality in the Indian economy. The report outlined a number of salutary outcomes; not only had extreme poverty reduced drastically, inequality had reduced too. The Gini coefficient — a measure of inequality that ranges from 0 to 1, with 1 indicating extreme inequality — had fallen from 0.288 in 2011-12 to 0.255 in 2022-23, making India an economy with one of the lowest levels of inequality in the world.