According to the commitment to reducing inequality index developed by Oxfam and Development Finance International, India fared poorly, ranking 147 out of 157 countries, in terms of its commitment to reducing inequality, while Denmark topped the list. Other countries which fared badly include Nigeria, Singapore, and Argentina.
The index ranks 157 countries on their policies on social spending, tax, and labour rights.
The report states that countries such as South Korea, Namibia and Uruguay are taking strong steps to reduce inequality.
Among rich countries, USA showed a lack of commitment towards closing the inequality gap.
In terms of its ranking across specific pillars this year, India was placed 151st on the index for public spending for healthcare, education and social protection, 141st for labour rights and wages, and 50th on taxation policies. Regionally, India ranks sixth among the eight South Asian nations. On public spending and on labour rights it ranks sixth, but India is placed on the top in terms of progressiveness of tax policy.
Other countries in the top ten include Germany (2nd), Finland (3rd), Austria (4th), Norway (5th), Belgium (6th), Sweden (7th), France (8th), Iceland (9th) and Luxembourg (10th).
Among the emerging economies, China was ranked 81st on the list, Brazil 39th and Russia 50th.