AS CAMPAIGNING FOR the General Elections continues, discussions over the distribution of wealth and the possibility of an inheritance tax have been raging in public forums, social media, and dining rooms, bringing back memories of India’s flirtation with socialism.
At the heart of the issue lies the vast inequality of incomes in India, highlighted in several reports recently, but experts prescribe a focus on economic growth and human development as policy panaceas.
A working paper titled ‘Income and Wealth Inequality in India, 19222023: The Rise of the Billionaire Raj’ authored by economists Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchi in March highlighted the increase in inequality in India from the 1980s onwards, which has seen a significant surge since the early 2000s. “Between 2014-15 and 2022-23, the rise of top-end inequality has been particularly pronounced in terms of wealth concentration,” the paper said, adding that by 2022-23, the top 1% income and wealth shares (22.6% and 40.1%) are at their highest historical levels, and India’s top 1% income share is among the very highest in the world.
Diese Geschichte stammt aus der May 26, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 26, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Inaction is worse than mistakes"
What was the problem you were grappling with?
TEEING OFF WITH TITANS
BUSINESS TODAY GOLF RESUMES ITS STORIED JOURNEY WITH THE 2024-25 SEASON OPENER IN DELHI-NCR. THERE ARE SIX MORE CITIES TO COME
AI FOOT FORWARD
THE WHO'S WHO OF THE AI WORLD GATHERED AT THE TAJ MAHAL PALACE IN MUMBAI TO DELIBERATE THE TRANSFORMATIVE IMPACT OF AI ON INNOVATION, INDUSTRIES, AND EVERYDAY LIFE.
Decolonising the Walls
ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.
CHOOSING THE CHAMPIONS
The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.
'INDIA IS AT AN EXTREMELY SWEET SPOT'
The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more
FROM CRISIS TO TRIUMPH
Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing
AT A CROSSROADS
BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.
EXPANSIVE VISION
Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach
