2022-23 wealth concentration among India's top 1% highest in six decades, increasing income and wealth shares to 22.6% and 40.1%.
India's wealth concentration among top 1% is at its highest in six decades, with the income and wealth share of the top 1% population rising to 22.6% and 40.1%, respectively, in 2022-23. According to the World Inequality Lab, India's income shares now exceed those of countries like Brazil and the United States. The study, titled "Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj," revealed that between 2014-15 and 2022-23, the top-end inequality significantly increased in terms of wealth concentration.
March 20, 2024
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