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📈 Latest data on Income and Wealth Inequality in India (as on 2024)
» Trend: Inequality declined post-independence, began rising in the 1980s, and has skyrocketed since the 2000s.
» Income Inequality: Top 1% earn 22.6% of total pre-tax national income (up from 7.3% in 1980) while bottom 50% earn only 15%.
» Wealth Inequality: Top 1% control over 40% of total wealth (up from 12.5% in 1980) while bottom 50% hold only 6.4% of total wealth.
✅ Source: World Inequality Lab Report
#upsc #data
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Question for Sociology Optional Aspirants!
Can you tell which sociological perspective explains this phenomenon? 🤔
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