India’s income and wealth inequality have surged to historic levels, with the top 1% now owning 22.6% of income and 40.1% of wealth. The trend, highlighted by the World Inequality Database, reveals a stark contrast to the socialist policies of the 1950s, which aimed to reduce inequality. However, since the 1980s and subsequent economic reforms, inequality has risen consistently. The top 10% now commands nearly 60% of national income. Factors contributing to this disparity include limited access to quality education for the masses and a significant concentration of wealth among the richest individuals. Economic inequality has widened across states and between urban and rural areas, posing significant challenges for India’s development.
India’s Income and Wealth Inequality Hits Record Highs
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/03/20192301/TNIE_import_2017_2_1_original_agriculture-NI1E-ezgif.com-avif-to-jpg-converter-860x484.jpg)