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Recent Trends in Wealth Inequality in India
An analysis of the trends in wealth ownership and its inequality in India between 1991 and 2012 using three rounds of All-India Debt and Investment Survey data reveals a greater concentration of wealth with the top 10%, particularly after 2002. A dramatic shift in the decile-wise patterns of annual growth rates of assets in favour of the top deciles, particularly the topmost, has also been witnessed. The study considers the extent of wealth inequality by sector, state, and social and religious groups as well. It is hypothesised that the rising levels of wealth inequality are deeply linked to the growth strategy being followed, by which the gains from growth have been redistributed among those who were already wealthy.
We are grateful to Himanshu, Snehashish Bhattacharya, Jyotirmoy Bhattacharya, Zico Dasgupta and the participants at the CESP-CAS Young Scholarsâ Seminar 2015 for their comments on an earlier draft. We also thank the anonymous referee for helpful suggestions. Any remaining errors are our own.
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