According to the 2018 Oxfam World Inequality Index, what was India's rank among the listed countries in terms of reducing income inequality?

Introduction / Context:
Global indices published by international organisations are a frequent source of questions in competitive exams, especially for banking, civil services and MBA entrance tests. The Oxfam World Inequality Index is one such index that evaluates how countries perform in reducing income and wealth inequality. The question asks specifically for India's rank in the 2018 edition of this index.

Given Data / Assumptions:

• The index is the 2018 Oxfam World Inequality Index.
• We are asked for India's rank.
• Options are 133, 147, 157 and 127.
• The index typically covers around 157 countries, with a higher rank number indicating poorer performance on equality.

Concept / Approach:
To answer this type of question, one must remember specific rank figures for important indices. For the 2018 Oxfam World Inequality Index, exam oriented current affairs notes repeatedly highlighted that India ranked 147th out of 157 countries. This implied that India was among the more unequal countries in the world according to the criteria used by Oxfam, behind many other nations in terms of progressive taxation and social spending.

Step-by-Step Solution:
Step 1: Identify the correct index name, which is the Oxfam World Inequality Index for the year 2018. Step 2: Recall from current affairs preparation that India's rank in this index was discussed in many exam magazines as 147th among 157 countries. Step 3: Compare this recollection with the options. Option 147 exactly matches the remembered figure. Step 4: The other options, 133, 157 and 127, do not match the widely reported rank for India in that year. Step 5: Select 147 as the correct answer.

Verification / Alternative check:
As an alternative check, consider that many exam notes mention that Denmark, Germany and Finland were among the top performers in the index, while India lagged behind, with a rank in the high one hundred range. If India had been ranked 127 or 133, it would likely have been described in more positive terms. The figure 147 has become standard in MCQs dealing with this index, and many revision tables titled India's rankings in global indices list 147th for the World Inequality Index, confirming the answer.

Why Other Options Are Wrong:
Option 133 is wrong because, although it is in a similar range, it does not match the documented 2018 rank for India. Option 157 is wrong because it would imply India is at the absolute bottom of all measured countries, which is not the reported case. Option 127 is wrong as it still misstates the rank and does not correspond to the Oxfam figure for that year.

Common Pitfalls:
Learners often confuse ranks across different indices such as Human Development Index, Global Hunger Index and World Inequality Index, because all of them use similar three digit numbers. To avoid confusion, maintain a separate quick reference sheet and revise it regularly, grouping indices by theme and memory hooks. For example, for the World Inequality Index, remember the pair India and 147 to fix this fact clearly in your mind for objective tests.

Final Answer:
In the 2018 Oxfam World Inequality Index, India was ranked 147 among the listed countries.