India

India Among Most Unequal Nations, Says Report

By
OB Bureau

New Delhi: India is among the most “poor and very unequal” nation with the population’s top 1 per cent holding more than 20 per cent (one-fifth) of the total national income in 2021. The bottom 50 per cent accounts for just 13 per cent, revealed a report.

Co-director of the World Inequality Lab, Lucas Chancel authored the report, titled “World Inequality Report 2022”. The report has been coordinated by several experts, including French economist Thomas Piketty, reported news agency PTI.

The report further said that India is now among the world’s most unequal countries.

According to the report, the average national income of the Indian adult population is ₹ 204,200. While the bottom 50 per cent earns ₹ 53,610, the top 10 per cent earns more than 20 times (Rs 1,166,520).

“While the top 10 per cent and top 1 per cent hold respectively 57 per cent and 22 per cent of total national income, the bottom 50 per cent share has gone down to 13 per cent.

“India stands out as a poor and very unequal country, with an affluent elite,” the report said.

The report says average household wealth stands at ₹ 9,83,010 in India.

The report observed that the deregulation and liberalisation policies implemented since the mid-1980s have led to “one of the most extreme increases in income and wealth inequality observed in the world”.

The gender inequalities in India are also high. “The female labor income share is equal to 18 per cent. This is significantly lower than the average in Asia (21 per cent, excluding China),” according to the report

The value is one of the lowest in the world, and slightly higher than the average share in the Middle East (15 per cent).

ALSO READ: Indian-Origin Anil Menon Among 10 New NASA Astronaut Trainees

OB Bureau

Recent Posts

OHRC Seeks Report From Odisha Govt On Mango Kernel Deaths In Kandhamal

Bhubaneswar: The Odisha Human Rights Commission (OHRC) has sent notices to Secretaries of Food &…

November 7, 2024

Why Are Kartik Aaryan’s Parents Scared Of Bollywood?

New Delhi: Even as his recently-released horror comedy ‘Bhool Bhulaiyaa 3’ continues to mint money…

November 7, 2024

How Delhi Police Cracked Gangrape Of Odisha Researcher; Cop In Guise Of Social Worker, Footage Of 700 CCTVs

New Delhi/Bhubaneswar: After over 20 days of investigation and analysing more than 700 CCTV cameras,…

November 7, 2024

‘No Notification Exists’: HC Closes Plea Against 1988 Ban On Salman Rushdie’s ‘The Satanic Verses’

New Delhi: The Delhi High Court has closed proceedings on a petition challenging the Rajiv…

November 7, 2024

Criticised For Touching His Wife’s Feet, Vikrant Massey Gives It Back To Trollers

Mumbai: ‘12th Fail’ actor Vikrant Massey recently got trolled after pictures of him touching his…

November 7, 2024

Threat Call: Was Shah Rukh Khan Targeted For His Deer-Hunting Dialogue In ‘Anjaam’?

Mumbai: Mumbai Police swung into action immediately after Bollywood superstar Shah Rukh Khan received a…

November 7, 2024

[Watch] Snowfall In Desert For The First Time!

Dubai: The effects of global climate change are being seen in various manifestations across the globe.…

November 7, 2024

Police Case Against Websites Selling T-Shirts With Photos Of Dawood, Bishnoi

Mumbai: When criminals are idolised and used for commercial purposes, police are bound to take action.…

November 7, 2024