The World Inequality Report 2022, published by the World Inequality Lab that also maintains the World Inequality Database, has ripped off the “development” façade of India and showcased the stark inequality that exists in the country.
“The average national income of the Indian adult population is €PPP7,400 (or INR204,200). While the bottom 50% earns €PPP2 000 (INR53,610), the top 10% earns more than 20 times more (€PPP42 500 or INR1,166,520),” says the report, adding, “While the top 10% and top 1% hold respectively 57% and 22% of total national income, the bottom 50% share has gone down to 13%. India stands out as a poor and very unequal country, with an affluent elite.”
Tracing the history of poverty and income inequality in India, the report says, “Indian income inequality was very high under British colonial rule (1858-1947), with a top 10% income share around 50%. After independence, socialist-inspired five-year plans contributed to reducing this share to 35-40%.” But the report points to the role of liberalisation
— source newsclick.in | Sabrang India | 10 Dec 2021