-The Hindu Business Line/ NetworkIdeas.org In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to...
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The cold truth about India’s income inequality -Seema Chishti
-The Hindu Far from pushing for social and economic equality, the state is fanning systems and principles to strengthen the divide The latest edition of the World Inequality Report (https://bit.ly/3Fx8vv4 and https://bit.ly/3EvazlY) has confirmed that the world continues to sprint down the path of inequality. “Global multimillionaires have captured a disproportionate share of global wealth growth over the past several decades: the top 1% took 38% of all additional wealth accumulated since...
More »What rising inequality means -S Irudaya Rajan and Udaya S Mishra
-The Hindu Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as an eye-opener on the income/wealth divides prevailing across regions. Such divides are represented in terms of the share of income/wealth among the top 10% of the population against the bottom...
More »India among top countries in inequality; 10% hold 57% income: Report
-Livemint.com The average national income of the Indian adult population is ₹204,200. While the bottom 50% earns ₹53,610, the top 10% earns more than 20 times ( ₹1,166,520) India has emerged as the most unequal country with the top 1% of the population holding more than one-fifth of the total national income in 2021, according to World Inequality Report 2022. The report added that that the average national income of the Indian adult...
More »India’s informal economy has not shrunk -Santosh Mehrotra and Kingshuk Sarkar
-The Hindu An SBI Research study’s claim that there is greater formalisation of the economy is unfounded According to a recent State Bank of India (SBI) Research report, the informal economy in India has been shrinking since 2018. Formalisation, the report says, has taken place through the gross value-added (GVA) route, consumption through increased digital payments, and the employment route. Let’s examine each of these. The report claims that the share of the...
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