Did India's economic reforms lead to a sharp rise in inequality? They studied household consumption surveys, federal accounts and income tax data from 1922 - when the tax was introduced in India - to 2014. The data shows that the share of national income accruing to the top 1 per cent of wage earners is now at its highest level since Indians began paying income tax. India, in fact, comes out as a country with one of the highest increase in top 1 per cent income share concentration over the past 30 years," they say. To be sure, India's economy has undergone a radical transformation over the last three decades.

Source: The Star September 12, 2017 03:45 UTC