The top 1% of the population in India holds more than one-fifth of total national income in 2021, as per the latest report released by the World Inequality Lab. The country has emerged as a poor and very unequal country, with the bottom half of the population owning “almost nothing” of the national wealth. The report, titled ‘World Inequality Report 2022’, has been authored by Lucas Chancel, co-director of the World Inequality Lab, with other coordinators, including France’s Thomas Piketty.
“The average national income of the Indian adult population is 7,400 Euro or Rs 204,200. While the bottom 50% earns 2,000 Euro or Rs 53,610, the top 10% earns more than 20 times more (42 500 Euro or Rs 1,166,520),” the report said.
The share of the bottom half of the Indian population in the total national income has gone down to 13%. At the same time, the top 10% holds 57% of the income, with the topmost 1% having 22% national income respectively. “India stands out as a poor and very unequal country, with an affluent elite,” the report stated
Wealth Inequality
The average household wealth in India is equal to 35,000 Euro or Rs 983,010, as per the data shared by the World Inequality Lab. “The bottom 50% own almost nothing,
— source newsclick.in | 08 Dec 2021