India among most unequal nations in the world; over 50 per cent of national income with 10% of people
New Delhi : India has been ranked as a 'poor and unequal' nation with 1 per cent of the top population holding around one-fifth of the total national income, according to a World Inequality Report 2022.
The report has been authored by Lucas Chancel, co-director of the World Inequality Lab, and coordinated by several experts, including French economist Thomas Piketty. It also mentioned that India is among the most unequal nations in the world.
The report mentioned that the average income of an Indian is around Rs 204,200 per annum. While the bottom 50 per cent of the population is earning less than Rs 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,” it said.
According to the report, the average household wealth stands at Rs 9,83,010.
It also mentioned that the gender inequalities in India are very high.