Inequality in India: Upper castes hold nearly 90% of billionaire wealth | India News - Business Standard


https://www.business-standard.com/india-news/inequality-surges-in-i...


A recent report from World Inequality Lab titled, ‘Towards Tax Justice and Wealth Redistribution in India’, has laid bare the stark economic disparities that plague India. The findings are sobering: nearly 90 per cent of the country’s billionaire wealth is concentrated in the hands of the upper castes, highlighting a deep socio-economic divide.
Billionaire wealth dominated by upper castes
The analysis in the report unveils a staggering 88.4 per cent of India’s billionaire wealth is controlled by upper castes. In contrast, while Scheduled Castes (SCs) and Scheduled Tribes (STs) together form a significant part of India’s workforce, their representation among enterprise owners remains disproportionately low.


This discrepancy is not limited to the billionaires; the All-India Debt and Investment Survey (AIDIS) for 2018-19 indicates that upper castes hold nearly 55 per cent of the national wealth. This concentration of wealth also highlights the persistent economic inequalities rooted in India’s caste system.
Caste influences financial demographics
Caste continues to play a critical role in determining access to essential resources such as education, healthcare, social networks, and credit — all crucial for entrepreneurship and wealth creation. Historically, Dalits faced prohibitions on land ownership in many regions, severely curtailing their economic progress.
This disparity extends beyond billionaire rankings. The ‘State of Working India, 2023’ report from Azim Premji University further highlights these disparities, showing SCs and STs are underrepresented among enterprise owners relative to their workforce participation. SCs, comprising 19.3 per cent of the workforce, account for only 11.4 per cent of enterprise owners. Similarly, STs, making up 10.1 per cent of the workforce, represent just 5.4 per cent of enterprise owners.



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India’s Income Inequality Worse Than Under British Rule: Report | TIME

https://time.com/6961171/india-british-rule-income-inequality/

For income, the economists looked at annual tax tabulations released by both the British and Indian governments since 1922. They found that even during the highest recorded period of inequality in India, which occurred during the inter-war colonial period from the 1930s until India’s independence in 1947, the top 1% held around 20 to 21% of the country’s national income. Today, the 1% holds 22.6% of the country’s income.

Similarly, the economists also tracked the dynamics of wealth inequality, beginning in 1961, when the Indian government first began conducting large-scale household surveys on wealth, debt and assets. By combining this research with information from the Forbes Billionaire Index, the authors found that India’s top 1% had access to a staggering 40.1% of national wealth.

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


https://www.ndtv.com/india-news/world-inequality-report-over-85-of-...

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.