India Faces Highest Inequality in Decades, Imperiling Growth and Rights

Income and wealth inequality in India is at its highest level in decades, with the top 1% holding over 40% of wealth in 2022-23
Inequality dampens growth and its impact on poverty reduction; super-rich influence decisions and undermine citizens' rights
Policies like progressive taxes and public spending on health and education reduced inequality historically in industrialized nations
India needs more formal sector jobs with social protections to reduce inequality through structural transformation
Caste, tribe, race and gender inequalities persist and must be addressed through data transparency, national mobilization