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As per the latest World Inequality Report 2022, India is a “poor and very unequal country, with an affluent elite,” where 57 percent of the national income is held by top 10 percent, while the share of the bottom 50 percent is merely 13 percent in 2021.
However, the report, authored by economist and co-director of the World Inequality Lab, Lucas Chancel, along with economists Thomas Piketty, Emmanuel Saez and Gabriel Zucman, states that “When India is removed from the analysis, it appears that the global bottom 50 percent income share actually slightly increased in 2020.”
The average national income of the Indian adult population is Rs 2,04,200, according to the report.
While the bottom 50 percent population's average national income is at Rs 53,610, the top 10 percent earns around than 20 times more at Rs 11,66,520.
As per the report,
According to the report, average household wealth in India stands at Rs 9,83,010 (less than half of China's average household wealth).
It adds, the middle class is also relatively poor (with an average wealth of only Rs 7,23,930) as compared with the top 10 percent and 1 percent who own respectively (65 percent of the total at Rs 63,54,070) and (33 percent of the total at Rs 3,24,49,360).
Gender inequalities in India are very high compared to the regional average.
The female labour income share is equal to 18 percent, which is significantly lower than the 21 percent average in Asia.
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