Syllabus: GS-III; Subject:Current Affairs Topic: Indices and reports
Issue: Income inequality.
Context: “Income and Wealth Inequality in India: The Rise of the billionaire raj” paper released by World Inequality Lab.
Key points:
- Income distribution is highly skewed, with the top 1% earning significantly more than the average Indian.
- Trend shows declining inequality post-independence, followed by sharp surge post liberalisation reforms.
- Urgent need for policy interventions to reverse inequality trends and ensure equitable growth.
- Proposal for a “super tax” on the wealthiest families’ net wealth to fund public investments.
