India’s top 1% income and wealth shares have reached historical highs: World Inequality Lab

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.