HIS IS NOT the first time Thomas Piketty has argued for a tax on wealth rather than on just income. He has, over the years, written on how inequality would only worsen and not only in the world's poorer nations. A research paper put out earlier this year by Piketty and three other economists estimated that inequality in India started rising in the early 1980s and has skyrocketed since the early 2000s. They found that between 2014-15 and 2022-23, the rise of top-end inequality had been particularly pronounced in terms of wealth concentration. By 2022-23, the richest 1% of the population, or about 9.2 million people, owned 40% of the country's wealth and 22.5% of the income, their highest historical levels. The growth, the paper said, came mainly at the expense of the middle class. Moreover, India's income inequality was among the very highest in the world, behind only Peru, Yemen and a few other small countries.
Denne historien er fra December 18, 2024-utgaven av Financial Express Kolkata.
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Denne historien er fra December 18, 2024-utgaven av Financial Express Kolkata.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Markets slump over 1%
● Investors' wealth down ₹4.92 lakh cr
EPFO weighs higher equity investments
● Labour ministry panel to look at ways to raise exposure
Indian firms turn to euro, yen swaps to trim borrowing cost
INDIAN FIRMS ARE opting for cross-currency swaps to convert part of their debt into the euro or the Japanese yen in order to trim borrowing costs, said bankers.
IIT-Madras to offer fine arts, culture courses
IN A FIRST for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
Not even 2% work-linked higher education courses yet: Report
EVEN AS ASSORTED government schemes are a national skill mission aiming to make India's workforce more employable, the latest TeamLease EdTech survey has revealed that barely 2% of the higher education institutions (HEIs) in the country are offering degrees that are work-linked.
The world's busiest airline routes in 2024 are largely in Asia
● Leisure continues to outshine corporate trips
Indian firms use euro, yen swaps
ECB president Christine Lagarde hinted at a bigger 50 basis point rate cut to buffer the euro zone economy
SME IPOs fetch rich returns in Dec
THE SME IPO market continues to see heightened interest and is delivering multibagger returns despite being under the lens of the markets regulator.
EPFO weighs higher equity investments
IN FY23, the interest rate was fixed at 8.15% and 8.10% in FY22.
KYC masking to go live on Jan 20
IN A MOVE that provides relief to financial institutions, the Central KYC Records Registry has extended the deadline for masking Know Your Customer (KYC) documents to January 20 next year.
