Recently, India has become a part of the most unequal countries.; India scores level of income equality lower than Russia, the United States, China.; India is a nation where the 1% richest people holds 53% of the total wealth.;
Recently, India has become a part of the most unequal countries.
India scores level of income equality lower than Russia, the United States, China.
India is a nation where the 1% richest people holds 53% of the total wealth.
On the other side, only 4.1% of the country's wealth is held by the poorest.
The incomes of the upper class and middle class grow more rapidly than the lower class people.
The main cause of income inequality is Unemployment. People off lower class are not getting the opportunities of getting employed.
In India, there are more poor states than top class regions. These upper class people have controlled major portion of assets under them.It leads to inequality
Rich people have dominated the Indian economy as the trading in black market has also increased.