Reduction of Income Inequality as a Condition for Sustainable Development of Russia

DOI

10.2991/assehr.k.220106.061How to use a DOI?

Keywords

income inequality; sustainable development; tax policy; export duties; money turnover; credit policy; monetary security

Abstract

One of the important obstacles to achieving the Sustainable Development Goals is income inequality, which determines the relevance of the topic. The subject of the study is the fundamental basis of commodity-money circulation in the relations of distribution of financial resources and tax policy. According to the hypothesis of the study, excessive differences in the incomes of the population lead to a reduction in the business activity of producers, the export of capital abroad, a reduction in the competitive advantages of non-primary non-energy industries, and the destabilization of the financial system of the Russian Federation. The purpose of the study, substantiation and preparation of recommendations for leveling the income gap in the direction that ensures the sustainable development of the country’s economy. The dialectical approach, deductive-inductive method, methods of statistical analysis were used as methods, the comparison of the processes taking place with the fundamental provisions, fundamentals and laws of the market was carried out. The author deduces tax decisions based on the fundamental laws of economic development. The assessment of the processes of bank financing is given, the consequences of increasing differences in income of various segments of the population are revealed. The degree of scientific development of the problem is determined by the study of ongoing financial processes in their adherence to the fundamental laws of the market and the identification of factors that hinder sustainable development in contradictions to the fundamental foundations of economic development. As a result of the research, conclusions are drawn and justifications are given for the need to reduce inequality in the aspect of achieving sustainable development and means of reducing inequality are proposed as conditions for achieving the development goals of the Russian Federation by increasing the main competitive advantages through fiscal policy. The scientific novelty was the identification of discrepancies between the fundamental laws of economics and the ongoing processes in the distribution of income. Recommendations are given to reduce income inequality and achieve competitive advantages of domestic producers through tax and customs regulation measures. The chosen topic covers ways to achieve sustainable development, taking into account the factors and conditions for reducing income inequality, which contributes to increasing the business activity of producers, restrictions on the export of capital abroad, strengthening the competitive advantages of non-resource non-energy industries, preventing the destabilization of the financial system of the Russian Federation, achieving sustainable development.

Copyright

© 2022 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Vladimir Chernov
PY  - 2022
DA  - 2022/01/18
TI  - Reduction of Income Inequality as a Condition for Sustainable Development of Russia
BT  - Proceedings of the International Scientific and Practical Conference "Sustainable development of environment after Covid-19" (SDEC 2021)
PB  - Atlantis Press
SP  - 340
EP  - 345
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220106.061
DO  - 10.2991/assehr.k.220106.061
ID  - Chernov2022
ER  -