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The report "Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj" by Thomas Piketty and colleagues highlights several important aspects of inequality in India. By 2022-23, the top 1% of the population controlled 22.6% of the national income and 40.1% of the nation's wealth, marking historically unprecedented levels.
The standard of living in India varies from state to state. In 2021, extreme poverty was reduced to 0.8% [1] and India is no longer the nation with the largest population living in poverty. [2] There is significant income inequality within India, as it is simultaneously home to some of the world's richest people. [3]
Low income 37.9 2021 Thailand: South-eastern Asia: Upper middle income 34.9 2021 35.12 2021 Tajikistan: Central Asia: Lower middle income 34.0 2015 34.00 2015 Turkmenistan: Central Asia: Upper middle income 40.8 1998 40.81 1998 Timor-Leste: South-eastern Asia: Lower middle income 28.7 2014 28.65 2014 Tonga: Polynesia
They found that even during the highest recorded period of inequality in India, which occurred during the inter-war colonial period from the 1930s until India’s independence in 1947, the top 1% ...
Income in India discusses the financial state in India. With rising economic growth India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around ₹1,69,496 in 2022-23. [1] The per-capita income is a crude indicator of the prosperity of a country. In contrast, the gross national income at ...
Income inequality in India has been a major concern, especially since 2016. The top 10% of the population holds 77% of the total national wealth, with the richest 1% acquiring 73% of the wealth generated in 2017, while the poorest half of the population, about 670 million people, saw only a 1% increase in their wealth. [90]
Global share of wealth by wealth group, Credit Suisse, 2021 Share of income of the top 1% for selected developed countries, 1975 to 2015. Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is ...
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