You are here: Home » PTI Stories » National » News
Business Standard

Close gender gap to reduce inequality: Lagarde

Press Trust of India  |  Washington 

Closing the gender gap in every aspect of economy is the most efficient way to reduce inequalities, IMF chief Christine Lagarde said today.

"The most efficient way to reduce the inequalities would be to actually close the gender gap between men and women, and that is a no-brainer," Lagarde said at a conference at the start of the annual meeting of the International Monetary Fund and the World bank.

"Whether it is access to the labor market, whether it is access to finance, whether it is the gender gap in terms of compensation, that would achieve a lot in order to reduce inequalities," she said.

The IMF boss said the solution applied to all countries irrespective of their economic situation.

Asked whether taxing the rich would help solve the problem, Lagarde said she disagreed.

"I disagree with that point that taxing the rich would be the most efficient way to reduce inequalities," she said.

"A study by the Fiscal Affairs Department demonstrated that, given the significant drop in average tax rate in most advanced countries, increasing the higher brackets would not prejudice growth," she added.

Lagarde said while reducing excessive inequalities would support growth in some countries, there is only one definite way to spur growth across the world.

"I would suggest that focusing on the women in all economies in the world would significantly reduce inequalities," Lagarde said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, October 13 2017. 08:22 IST
RECOMMENDED FOR YOU