Income Inequality In India

With the latest HCES showing a fall in Gini coefficient between FY12 and FY23, has India been able to reduce the income inequality?

Most Indians do not care about the income gap between the top 1 per cent and the rest. They have their own logic that merits listening

The top 1 per cent of Indians hold the maximum national income share at 22.6 per cent compared to key peers

At the BS BFSI Insight Summit 2023, economists unanimously said that the global economy is facing difficulties and there is no room for complacency in India

The Congress on Monday charged that the gap between the ultra-rich and the middle class in the country is widening under the Modi government. Congress general secretary Jairam Ramesh said an analysis of the publicly available data on income tax returns for the period 2013-14 to 2021-22 confirms one of the essential themes of the Bharat Jodo Yatra that of increasing income inequality. "The widening gap between the ultra-rich and the middle class under the Modi government is more and more apparent," he said in a post on X. "Here's the proof: The top 1 percent of income tax payers made 17 percent of all income in 2013-14. By 2021-22, the top 1 percent made 23 percent of all income. "Further, the income growth of the ultra-rich was much faster than for the middle class. The top 1 percent of income tax payers saw their income grow at 13 percent year-on-year from 2013-14 to 2021-22 a massive 60 percent faster than the income of the lowest 25 percent of tax payers," the Congress leader

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Free food distribution of cereals during the pandemic has starkly reduced income inequality across laggard states and those at the bottom of the pyramid, according to a report. SBI Ecowrap started the research with a hypothesis of how the free food grain distribution is impacting the distribution of wealth on population quintiles for the poorest of the poor. It has taken a cue from the the International Monetary Fund (IMF) Working Paper which indicated that Pradhan Mantri Garib Kalyan Yojana (PMGKAY), which provides free foodgrains to poor people, played a key role in keeping extreme poverty in India at the lowest level of 0.8 per cent during the pandemic-hit 2020. The SBI study analyzed the impact of share of Rice procurement (since Rice is still the staple food for most of the people in India), on Gini Coefficient for 20 States and the impact of share of Wheat procurement on Gini Coefficient for nine States. "Our results show that relatively laggard states in terms of inequal ...

Dollar millionaires or those possessing a personal wealth of over Rs 7 crore rose by 11% to 4.58 lakh households in India at the end of the pandemic-hit 2021, says a survey.

Is India Inc meeting its CSR commitment? What should the govt do to address inequality? What is Vaibhav Sanghavi's take on the upcoming Budget? What are Surcharge and Cess? Find all answers here

The gap between the top 1 per cent and the bottom 50 per cent of the population just keeps expanding, global non-profit organisation Oxfam said in its latest annual report on income inequality

Wealth inequality in India stark compared to US, China

Report says there is still considerable wealth poverty in India, reflected in the fact that 91 per cent of the adult population has wealth below $10,000

Data released so far shows multiple instances where ratio to median employee pay has exceeded 1000 for 2017-18

Some of the principal findings are: one, the share of national income accruing to the top 1 per cent income earners is now at its highest level since the launch of the Indian Income Tax Act in 1922

It said the wealthiest in India have cornered a huge part of the wealth created in the country through crony capitalism and inheritance

The number of ultra-high networth households in the country, which represents those with a networth of over Rs 250 million or more, has grown 12 per cent to over 16 million in 2017

Earlier, Rahul had resorted to Twitter urging the Prime Minister to let Davos know why India's one percent population receives 73 percent of the country's wealth

With the top 10 per cent of earners capturing 55 per cent of the national income in 2016, India is the worst performer on this score among major regions, except the Middle East

The report was compiled by the World Wealth and Income Database