Top 10% earners have 56% of India's wealth: Report [VIDEO]

India's list of billionaires went from 1 to 132 in the last 3 decades. All this while, the country continues to remain the home to world largest population of malnourished children and poor people.

Income inequality in India has reached historically high, with the top 10% of earners accounting for around 56% of the national wealth in 2016, according to the 'World Inequality Report 2018' released in the New Delhi on Wednesday.

According to the report, inequality rose substantially in India following profound transformation in the economy that centered on the implementation of deregulation and opening-up reforms.

"In 2014, the share of national income captured by India's top 1% of earners was 22%, while the share of the top 10% of earners was around 56%. The top 0.1% of earners has continued to capture more growth than all those in the bottom 50% combined," said the report.

For detailed information, read the full report compiled by World Equality Lab.

Watch the video to find out more.

Trending now