Unprecedented technological advancement and economic growth has itself contributed to financial inequalities in the society. Machines have created unemployment among masses so on the one hand technology has enhanced the production of goods on the other it has led to unemployment. But the most important reason of economic discrimination and financial inequality in the society is increasing capitalism in all the Democratic societies.
Only one percent people of India are controlling 90 percent capital of the country. Similarly ten percent population of india is controlling 70 percent resources of the country. Unequal distribution of resources of the country has itself led to economic equalities in the society. As far as social inequalities is concerned, historical division of society on the basis of Varna and castes had strengthened the foundations of social inequalities which further led to economic inequalities. Although certain constitutional provisions have been made to remove these inequalities but the lack of political will to implement the provisions of Constitution has proved ineffective to reduce the social and economic inequalities in the Indian society.