Rich Indians own 40% of wealth in extreme inequality under Modi

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the richest 1 per cent of the population now owning 40 per cent of the country’s wealth

further divergence in inequality may fuel social unrest in the country.

The inequality gap will likely not close on its own without policy intervention, said the researchers, who suggested imposing a “super tax on Indian billionaires and multimillionaires, along with restructuring the tax schedule to include both income and wealth”. This could then be used to invest in education, health and other public infrastructure.