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World Inequality Report 2022

Published on December 11, 2021
Current Context: The ‘World Inequality Report 2022’ was released by France-based World Inequality Lab.
World Inequality Report 2022
  • It is authored by Lucas Chancel, co-director of World Inequality Lab, and was coordinated by Thomas Piketty, the French economist.
  • As per the report, the top 1 % of India’s population owns more than one-fifth of the total national income in 2021.
  • And the bottom half of the population earns just 13.1%.
  • The economic reforms and liberalization framed and adopted by India have proved beneficial to the top 1%.
  • In India, 1% richest people hold 22% of the total national income in 2021 and the top 10%owns 57% of the income.
  • The Indian adult population earns an average national income of Rs 204,200 in 2021, which is based on basis of purchasing power parity. And the bottom 50% earns Rs. 53,610 which means that the top 10% earns more than 20 times i.e. Rs. 1,166,520.
  • As per the report, the average national income of a country masks inequalities.
  • India stands out to be a 'poor and very unequal country'.
  • The ratio in the richest nation which is the United States is 1 to 17. Here, the richest ten of the global population own 52% of global income and the poorest half of the population earns 8.5% of the global income.

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