India’s top 1 percent richest own 40 percent of total wealth.

The richest one per cent in India now own more than 40 per cent of the country’s total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on 16th january.

Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting here, rights group Oxfam International said that taxing India’s ten-richest at 5 per cent can fetch entire money to bring children back to school.

On gender inequality, the report said that female workers earned only 63 paise for every 1 rupee a male worker earned. For Scheduled Castes and rural workers, the difference is even starker—the former earned 55 per cent of what the advantaged social groups earned, and the latter earned only half of the urban earnings between 2018 and 2019.

Categories: India

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