 "Economic Survey: Rich getting richer faster")
The fast growing years in the 2000s were associated with rising income inequality, says the Economic Survey.
The richest one per cent of India's population accounted for nine per cent of personal income in 1998 and their share rose to 12.6 per cent by 2012.
The share of personal income of the richest one per cent in the UK rose from 12.5 per cent to 12.7 per cent during this period. In the US the top 1 per cent accounted for 15.2 per cent of personal income in 1998 and their share went up to 18.9 per cent in 2012. The richest 0.5 per cent of India's population had seven per cent share of personal income in 1998 and 9.6 per cent in 2012. In the UK the share rose from 9.1 per cent to 9.2 per cent and in the US from 11.6 per cent to 14.7 per cent.
The most prosperous 0.1 per cent of India's population had a share of 3.6 per cent of personal income in 1998, which rose to 5.1 per cent in 2012. In the UK, the share rose from 4.4 per cent to 4.6 per cent and in the US, from 6.2 per cent to 8.4 per cent.
The survey used the methodology employed by economists Thomas Piketty and A Banerjee in their work, Top Indian Incomes, 1922-2000.
The richest one per cent of India's population accounted for nine per cent of personal income in 1998 and their share rose to 12.6 per cent by 2012.
The share of personal income of the richest one per cent in the UK rose from 12.5 per cent to 12.7 per cent during this period. In the US the top 1 per cent accounted for 15.2 per cent of personal income in 1998 and their share went up to 18.9 per cent in 2012. The richest 0.5 per cent of India's population had seven per cent share of personal income in 1998 and 9.6 per cent in 2012. In the UK the share rose from 9.1 per cent to 9.2 per cent and in the US from 11.6 per cent to 14.7 per cent.
The most prosperous 0.1 per cent of India's population had a share of 3.6 per cent of personal income in 1998, which rose to 5.1 per cent in 2012. In the UK, the share rose from 4.4 per cent to 4.6 per cent and in the US, from 6.2 per cent to 8.4 per cent.
The survey used the methodology employed by economists Thomas Piketty and A Banerjee in their work, Top Indian Incomes, 1922-2000.
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