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Income Inequality Trends in India 2023
January 10 , 2025
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- India’s income inequality in 2023 remained higher than it was in the 1950s.
- The Gini coefficient for the country stood at 0.410 in 2023, up from 0.371 in 1955.
- Earlier, in 2021, due to the adverse impact of the pandemic, the Gini coefficient had risen to 0.528.
- The share of ‘bottom 10 per cent’ households income decline to 2.38 per cent in 2023 from 3 per cent in 1955.
- Meanwhile, the share of ‘bottom 50 per cent’ households rose slightly to 22.82 per cent from 22 per cent during the corresponding time period.
- The Gini coefficient measures the extent to which the distribution of income among individuals or households within an economy deviates from a perfectly equal distribution.
- A Gini index of 0 represents perfect equality, while a coefficient of 1 implies perfect inequality.
- The higher the value will be the greater the income inequality.
- As per the World Inequality Database, the ‘top 1 per cent’ controlled 22.6 per cent of the national income in 2023.
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