Average income of the super-rich has grown at faster pace under Modi govt

Income skew has risen, with average annual income of I-T filers in the lowest slab declining by Rs 20,000, and average crorepati income seeing an incremental income of Rs 1 million in two years

During the first three years of the Narendra Modi government at the Centre, the income of the country’s super-rich has grown at a much faster pace than that of those not so affluent, show recent income-tax data released by the Central Board of Direct Taxes (CBDT). 

The total income accruing to individuals earning more than Rs 10 million (or the crorepatis) rose by a staggering 40 per cent between assessment years (AY) 2015-16 and 2017-18. By comparison, the total income of those earning less than 250,000 per year contracted by 40 per cent during the same period. 

The total income