World Inequality Report: Over 85% Of Indian Billionaires From Upper Castes, None From Scheduled Tribes


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India's income and wealth inequality, which declined post-independence, began to rise in the 1980s and has soared since the 2000s. Between 2014-15 and 2022-23, the increase in top-end inequality has been particularly striking in terms of wealth concentration. The top 1 per cent of income and wealth shares are now at their highest historical levels. Specifically, the top 1 per cent control over 40 per cent of total wealth in India, up from 12.5 per cent in 1980, and they earn 22.6 per cent of total pre-tax income, up from 7.3 per cent in 1980

This dramatic rise in inequality has made the "Billionaire Raj," dominated by India's modern bourgeoisie, more unequal than the British Raj. It places India among the most unequal countries globally. Current estimates indicate that it takes just ₹ 2.9 lakhs per year to be in the top 10 per cent of income earners and₹ 20.7 lakhs to join the top 1 per cent . In stark contrast, the median adult earns only about ₹ 1 lakh, while the poorest have virtually no income. The bottom 50 per cent of the population earns only 15 per cent of the total national income.

To fully grasp the skewed income distribution, one would have to be close to the 90th percentile to earn the average income. In terms of wealth, an adult needs ₹ 21 lakhs to be in the wealthiest 10 per cent and ₹ 82 lakhs to enter the top 1 per cent . The median adult holds approximately ₹ 4.3 lakhs in wealth, with a significant portion owning almost no wealth. The bottom 50 per cent holds only 6.4 per cent of the total wealth, while the top 1 per cent owns 40.1 per cent , and the top 0.001 per cent alone controls 17 per cent . This means fewer than 10,000 individuals in the top 0.001 per cent hold nearly three times the total wealth of the entire bottom 50 per cent (46 crore individuals).

India’s hidden COVID deaths: Was the toll in 2020 eight times higher? | Health News | Al Jazeera


https://www.aljazeera.com/news/2024/7/20/did-covids-first-wave-kill...

Indian Muslims suffered the worst: Their life expectancy went down by 5.4 years in 2020.


These communities had lower life expectancy at birth relative to high-caste Hindus even before the pandemic, the study noted. “The pandemic exacerbated these disparities,” it added. “These declines are comparable or larger in absolute magnitude to those experienced by Native Americans, Blacks, and Hispanics in the United States in 2020.”
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India had nearly 1.2 million excess deaths in 2020, new data shows. The life expectancy of Muslims fell the most among all Indians – by more than five years.

New Delhi, India – India’s actual death toll during the first phase of the COVID-19 pandemic that ravaged the world’s most populous country could be eight times higher than the government’s official numbers, reveals a new study.

While that initial wave of the virus caught the world off guard, leaving governments and health systems scrambling for responses, India, after implementing a strict lockdown, appeared to have escaped the worst of its effects. The country was devastated by the delta variant in 2021 when hospitals ran out of beds and oxygen, people died gasping outside healthcare facilities and rows upon rows of smouldering pyres chequered cremation grounds across the country.

But the new research suggests that the first wave, while not as deadly as the one in 2021, wrought far greater devastation than has been acknowledged until now.

What does the new research show?
The study, co-authored by 10 demographers and economists from elite international institutes, found that India had 1.19 million excess deaths in 2020, during the pandemic’s first wave, compared to 2019.

That’s eight times India’s official COVID-19 toll for 2020, of 148,738 deaths. The study was published Friday in the Science Advances publication.

The numbers in the research, based on the Indian government’s 2019-21 National Family Health Survey (NFHS), a comprehensive report on the state of the country’s health and family welfare, are also 1.5 times the World Health Organization’s (WHO) estimate for India’s COVID-19 death toll in 2020.

India’s own total count of deaths from the virus until the end of 2021 stands at 481,000.

But the new research also uncovers deep inequalities among the pandemic’s victims – based on gender, caste and religion.

Did COVID kill some communities disproportionately?
The research found that in 2020, the life expectancy of an upper-caste Indian of the Hindu faith went down by 1.3 years. By contrast, the average lifespan for people from ‘scheduled castes’ – communities that for centuries faced the worst discrimination under the caste system – went down by 2.7 years.

India household spending on non-food items rises as urban-rural gap narrows | Reuters

https://www.reuters.com/world/india/india-household-spending-non-fo...

In nominal terms, rural consumer spending climbed 9.55% year on year to 4,122 rupees ($48.23) per month in the year through July from 3,773 rupees the previous year, while urban spending rose 8.31% to 6,996 rupees from 6,459 rupees, the report showed.

Adjusted for inflation, rural spending grew just 3.5%, while urban spending remained subdued due to retail inflation of about 5.5% in the fiscal year that ended in March.