Wealth Income Inequality In India

India is no stranger to income inequality but the gap is widening further.

Wealth income inequality in india. Wealth distribution is also uneven with one report estimating that 54 percent of the country s wealth is controlled by millionaires. Last year s survey had showed that india s richest 1 held 58 of the country s total wealth which was higher than the. Support oxfam india s campaign to urge the indian government to provide such services and end under taxation of corporates and rich individuals. In 2017 alone the top 1 percent of the.

Subramanian and jayaraj 2013 and ravallion 2014 have recently argued in favour of measuring absolute inequality in addition to relative inequality. India has got more unequal over the last two decades india s gini coefficient the official measure of income inequality has gone from 0 32 to 0 38 with 0 being the ideal score. According to the cia world factbook the gini index of india which is a measure of income distribution inequality was 35 2 in 2011 ranking 95 th out of 157. An oxfam report released on the eve of the world economic forum at davos underscores the dramatic increase in wealth inequality in india in recent years.

India s richest 1 per cent hold more than four times the wealth held by 953 million people who make up for the bottom 70 per cent of the country s population while the total wealth of all indian billionaires is more than the full year budget a new study said on monday. Based on the new india human development survey ihds which provides data on income inequality for the first time india scores a level of income equality lower than russia the united states china and brazil and more egalitarian than only south africa. Analysis of income inequality in india. Releasing the study time to care ahead of the 50th annual meeting of the world economic forum wef rights group oxfam.

The main reason for low level of income of the majority. 3 a simple measure of absolute inequality is the real rupee difference as opposed to the ratio between the average income and the income of the top 1 0 1 and 0 01. Oxfam is calling on governments to invest more in making quality essential services available to everyone and to help fund this by taxing wealth more fairly. Income inequality in india refers to the unequal distribution of wealth and income among its citizens.

In the recent years india has joined the club of most unequal countries. Inequality affects us all.