Income inequality in India estimated to be at highest level in over a century
Income inequality in India estimated to be at highest level in over a century
The paper, which has been co-authored by Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchi, combines data from national income accounts, wealth aggregates, tax tabulations, rich lists, and surveys on income, consumption, and wealth to arrive at the results
A report by the World Inequality Lab, co-authored by French economist Thomas Piketty, has estimated that in 2022-23, India's income and wealth inequalities were at their highest levels since records began in 1922 and 1961 respectively. The richest 1% of the population now own 40.1% of the nation's wealth, higher than in the US (34.9%), China (32.6%) or France (24%). Previously, inequality fell from Indian independence in 1947 to the 1980s and has been rising since.