Paris-based World Inequality Lab has published its report titled “World Inequality Report 2022”.

Key Points
• Lucas Chancel is the lead author of the report. He also happens to be the co-director of World Inequality Lab.

• The report is also coordinated by renowned French economist Thomas Piketty.

Key Findings of the World Inequality Report 2022

• According to World Inequality Report, the top 1 per cent holds respectively 22 per cent of total national income.

• The bottom 50 per cent of the population holds just 13 per cent of total national income.
• The report says that economic reforms and liberalization adopted by India have mostly benefited the top one per cent.

• Report identifies India as a poor and an unequal country, with an affluent elite.
• According to the report, the average national income of the Indian adult population is Rs 204,200.

Income Gap
The income gap between top 10 percent and bottom 50 percent in India is 1 to 22 in 2021. The report noted India as one of the most unequal countries worldwide.

Where do BRICS nations stand?
When it comes to the BRICS nations, South Africa and Brazil have wider income inequalities than India. Income gap between top 10% and bottom 50% stood at 1 to 63 in South Africa and 1 to 29 in Brazil. In China and Russia, the income gap was 1 to 14.

Scenario in the US
Ratio in richest nation that is US, is 1 to 17.

The richest ten percent of the global population owns 52 per cent of global income. On the other hand, poorest half of the population just earns 8.5 per cent of the global income.

Inequality in British India
Inequality in India has widened as compared to British rule. Report finds that, Indian income inequality was very high under British colonial rule, during 1858-1947. Top ten per cent of the population shared around 50 per cent of the national income.