The report, which analysed the Income-Tax Returns (ITR) data, said that the Gini coefficient decreased to 0.489 from the Assessment Year 2013 (Fiscal Year 2012) to 0.460 in AY 2024 (Fiscal Year 2023).
The projections for AY 2025 suggest an even further reduction to 0.441, indicating a trend towards more equitable income distribution among individuals, shows SBI report. It also notes upward income mobility among lower-income taxpayers. In AY 2015 (Fiscal Year 2014), 43.6% of ITR filers earning under ₹4 lakh moved to higher income brackets.
This story is from the October 26, 2024 edition of The Morning Standard.
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This story is from the October 26, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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