Inequality in India has skyrocketed since the early 2000s, with the income and wealth share of the top 1 per cent population rising to 22.6 per cent and 40.1 per cent, respectively, in 2022-23, according to a working paper. The paper titled ‘Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj’ said between 2014-15 and 2022-23, the rise of top-end inequality has been particularly pronounced in terms of wealth concentration. The paper authored by Thomas Piketty (Paris School of Economics and World Inequality Lab), Lucas Chancel (Harvard Kennedy School and World Inequality Lab) and Nitin Kumar Bharti (New York University and World Inequality Lab). “Between 2014-15 and 2022-23, the rise of top-end inequality has been particularly pronounced in terms of wealth concentration.
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