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800,000 super-rich Indians account for 8.6% of national income

800,000 super-rich Indians account for 8.6% of national income
From 1980 to 2014, the top 1 per cent captured 29 per cent of total growth, as much as the bottom 84 per cent put together. Illustration: Uttam Ghosh/Rediff.com Incomes of the super-rich in India are growing at a staggering pace. The share of the top 1 per cent in the national income rose to 21.7 per cent in 2013-14, finds a new study by economists Lucas Chancel and Thomas Piketty. This is the highest level since the establishment of income tax in 1922. The previous high was 20.7 per cent in ...
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