New Delhi: India is one of the most unequal countries in the world, according to the World Inequality Report. India stands out as a poor and very unequal country, with an affluent elite, said the report prepared by the World Inequality Lab, authored by Lucas Chancel and coordinated by economist Thomas Piketty.
The top 1 percent of India’s population earned more than one-fifth (21.7 percent) of the country’s total national income in 2021, while the bottom 50 percent made just 13.1 percent, showed the report.
According to the report, the top 10 percent of the population owned 57 percent of the country’s national income in 2021.
The top 1 percent of Indians now own 33% of the country’s wealth compared to 31.7 percent previously. The top 10 percent own 64.6 percent of the country’s wealth, up from 63.9 percent. The share of the bottom 50 percent now stands at 5.9 percent, down from 6 percent earlier. The average household wealth in India stands at Rs 9,83,010.
“The bottom 50 percent own almost nothing, with an average wealth of Rs 66,280,” the report said.
Globally, the poorest half of the population owns just 2 percent of the total wealth. In contrast, the richest 10 percent of the global population own 76 percent of all wealth. On average, the poorest half of the population own $4,100, and the top 10 percent own $771,300.
The average national income of the Indian adult population is estimated at Rs 2,04,200. The bottom 50 percent earns Rs 53,610, while the top 10 percent earns more than 20 times that at Rs 1,166,520.
