India’s top 1% holds 40% of country’s wealth – study  ...News

Wealth disparity in the world’s fastest-growing large economy is at its highest in decades, the economists argued in a new research paper India’s richest 1% of the population earned 22% of the country’s income and held 40% of its wealth during the last financial year, a new study published this week has revealed. These levels are “historically high” for India and even above those of developed economies such as the US, the paper notes.  The research paper, co-authored by economists Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchi, claims that wealth in India, the fastest-growing large economy global

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