Brief by Shorts91 Newsdesk / 04:38am on 22 Mar 2024,Friday India
India's wealth inequality has surpassed even the colonial era, with the top 1% now controlling 40.1% of national wealth, compared to less than 15% at independence. Income share for this group rose to 22.6% in 2022-23. The report by World Inequality Lab indicates a post-independence decline in inequality until the 1980s, followed by a sharp rise since the early 2000s. Dubbed the 'Billionaire Raj', India's inequality now exceeds that of the British Raj. Policy intervention is crucial to curb this trend.
