The Rise in Economic Inequality in India in Recent Years

Abstract

India's economy is among the fastest expanding in the world, yet it also ranks among the most unequal. Throughout the past thirty years, inequality has been steadily increasing in the country. A significant portion of the wealth generated by crony capitalism and inheritance has been monopolized by the wealthiest. Their rate of wealth accumulation is significantly exceeded that of the impoverished, who struggle to make ends meet and obtain adequate healthcare and education. In the paper we try to scrutinize the trends in income and wealth inequality in India and also examine the impact of Covid-19 pandemic on economic inequality in the nation. Some policy suggestions are made as India navigates the road to recovery to alleviate the gaps posed by the extraordinary difficulties presented by COVID-19 and promote a more resilient and equitable economic environment in post-pandemic India.