Context World Inequality Report (WIR), 2022 has been released recently.
Published by: The World Inequality Lab at the Paris School of Economics.
It provides estimates of global income and wealth inequality based on the most recent findings compiled by the World Inequality Database (WID).
Major findings of the report
Most unequal region: MENA (Middle East and North Africa).
MENA consists of Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.
Europe has the lowest inequality levels.
Nations have become richer, but governments have become poor.
Wealth inequalities have increased at the very top of the distribution.
The top 1% took 38% of all additional wealth accumulated since the mid-1990s, whereas the bottom 50% captured just 2% of it.
Gender inequalities remain considerable at the global level, and progress within countries is too slow
These inequalities are not just a rich vs. poor country issue, but rather a high emitters vs low emitters issue within all countries.
India’s performance
India is among the most unequal countries in the world, with rising poverty and an ‘affluent elite.’
The top 10% and top 1% in India hold 57% and 22% of the total national income respectively while the bottom 50% share has gone down to 13%.
The average national income of the Indian adult population is Rs 2,04,200.
The share of female labour income share in India is equal to 18% which is significantly lower than the average in Asia (21%, excluding China) & is among the lowest in the world.
