If you earn a salary of Rs 25,000 or higher, then your pay ranks in the top 10% of the total wages earned in India. The State of Inequality in India report released by the Economic Advisory Council to the Prime Minister earlier this week sheds light on the economic polarities of income profiles in the country.
The EAC-PM report has recommended that the government should consider formulating an urban equivalent of the Mahatma Gandhi National Rural Employment Guarantee Scheme that would offer guaranteed employment to the urban workforce.
It has also asked the government to consider raising the minimum income level and introducing a universal basic income.
Extrapolating from the Periodic Labour Force Survey, the report stated that the top 1% in India earns thrice as much as the bottom 10%.
As per the PLFS survey of 2019-20, the annual cumulative wages came to be around Rs 1,869 crore, out of which the top 1% earned nearly Rs 127 crore, and the bottom 10% accounted for a measly Rs 32.10 crore. This indicates that the top 1% earns almost thrice as much as the bottom 10%.
— source thewire.in | Kaushal Shroff | 19/May/2022