India Among Most Unequal Countries: Report

• Image Credit: Internet

• Dec 8, 2021 | Deleted

New Delhi: India stands among the unequal countries in the world after the latest report was released by ‘World Inequality Report 2022’.

The report claiming India’s position as a ‘poor and very unequal country, with an affluent elite’ asserted, “The top 1 per cent of the population holds more than one-fifth of the total national income in 2021 and the bottom half just 13 per cent.”

Also Read: Three Child Policy: China allows couples to have triple child including government exemption

The report, which Lucas Chancel has authored, co-director of the World Inequality Lab, also pointed out that the average national income of the Indian adult population is Rs. 204-200. While the bottom 50 per cent earns Rs. 53, 610, the top 10 per cent earns more than 20 times.

“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.” it said.

The report added that top 10 per cent of the population holds 57 per cent of the total income while the bottom 50 per cent shares have decreased to 13 per cent.

Presently, the average household wealth in the country stands at Rs. 983,010.

It also stated that the gender inequalities in India are very high. It is reported that the female labour income share is equal to 18 per cent, one of the lowest in the world.

Further, the report pointed out that global inequalities remain extremely striking after three decades of trade and financial globalization.

Notably, the world map of inequalities reveals that national average income levels are poor predictors of inequality among the high-income countries where some are unequal and others are relatively equal.