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LATEST NEWS UPDATES | India 'poor and very unequal' with affluent elite: World Inequality Report -Indivjal Dhasmana

India 'poor and very unequal' with affluent elite: World Inequality Report -Indivjal Dhasmana

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published Published on Dec 8, 2021   modified Modified on Dec 8, 2021

-Business Standard

Fruits of economic reforms monopolised by the elite: World Inequality Report

The top one per cent of the population in India owns more than one-fifth of the total national income in 2021 while the bottom half earns just 13.1 per cent, said the World Inequality Report. The economic reforms and liberalization adopted by India have mostly benefited the top one per cent, the latest report for 2022 said.

"India stands out as a poor and very unequal country, with an affluent elite," said the report, brought out by the France-based World Inequality Lab which does work through evidence-based research on the drivers of inequality worldwide.

The report is authored by Lucas Chancel, co-director of the World Inequality Lab and coordinated by famed French economist Thomas Piketty, among others. The report said the one per cent richest people in India hold 22 per cent of the total national income in 2021; the top ten per cent owns 57 per cent of the income.

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Business Standard, 8 December, 2021, https://www.business-standard.com/article/economy-policy/india-poor-and-very-unequal-with-affluent-elite-world-inequality-report-121120700540_1.html?fbclid=IwAR0UNLbUQjNek8lLGUzt48oOMfD4edcJUaxAaHFiPiwSNt02v-m_mzehZv4


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