KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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Top 10% of Urban Indian Households has 7,517 Times the Assets of the Bottom Decile
The average value of assets (AVA) of the top ten percent of urban households in India is more than seven thousand five hundred times greater than what the bottom ten percent owns. The AVA of the top decile was Rs. 1.5 crores, while the lowest decile owned an average of Rs. 2,000 of assets. The data is part of the All India Debt and Investment Survey - 2019, the survey for...
More »Top 1% of Indians own 40.5% percent wealth, bottom 50% has around 3% - Oxfam Inequality report
Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...
More »Why Economic Inequality is a Burning Issue that Needs Attention -Atman Shah and Dipak Chaudhari
-Newsclick.in Inequality is not natural but manufactured. It’s time policymakers stopped normalising the wealth and income gap. Else, post-Covid inequality could become a permanent feature. Wealth and income inequality are more than just economic concepts. They also influence education and health outcomes, poverty levels, employment and unemployment rates, opportunities, choices, and, ultimately, happiness. Of late, several reports have investigated the impact of COVID-19 on various segments of society at the regional, national,...
More »Number of India’s ultra-rich grew 11x in last decade -Parvathi Benu
-The Hindu Business Line However, inequality is slightly down in the last two years, says a global wealth report Wealth of the rich in India has grown over the last decade and the pandemic-hit years too continued to see a stellar increase in the number of the rich. However, inequality in the country has reduced a tad over the last couple of years, implying that the increase in wealth was broad-based during...
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