Wealth Distribution
Wealth of an individual is defined as net worth, expressed as: assets − liabilities. The distribution of wealth is a comparison of the wealth of various members or groups in a society. It shows one aspect of economic inequality or economic heterogeneity. The distribution of wealth differs from the income distribution in that it looks at the economic distribution of ownership of the assets in a society, rather than the current income of members of that society. According to the International Association for Research in Income and Wealth, "the world distribution of wealth is much more unequal than that of income."
Wealth of an individual is defined as net worth, expressed as: assets − liabilities. The distribution of wealth is a comparison of the wealth of various members or groups in a society. It shows one aspect of economic inequality or economic heterogeneity. The distribution of wealth differs from the income distribution in that it looks at the economic distribution of ownership of the assets in a society, rather than the current income of members of that society. According to the International Association for Research in Income and Wealth, "the world distribution of wealth is much more unequal than that of income."
SUBJECT Variables
WEALTH DISTRIBUTION
- As of 2021, 688K adults (75.1% of the adult population) in India own less than USD 10K (~₹8 lakh) in comparison to the worldwide average of only 53% of the adult population within the same wealth bracket.
- The percentage of people in the lowest wealth bracket (< USD 10K) has reduced from 95% to 77% between 2012 and 2021.
- Less than 0.1% of India's adult population owned more than USD 1 million in 2021 in comparison to the worldwide average of 1.2%.
- The richest 1% of India's adult population owns 40.6% of India's total wealth. The richest 10% own 72.5% of the wealth in India.
- In comparison to 2013, the concentration of wealth in the hands of the rich in 2021 has not changed much. The richest 10% own continue to own 72.5% of the total wealth in India. The only shift has been that the richest 1% own a smaller slice of the total wealth in 2021 compared to 2013. This shows that the poor have not benefited at all from India's economic growth over the last few years.
AVERAGE WEALTH
- The average (mean) wealth of an adult in India in 2021 was USD 15,535, a 9% increase from a year ago. In comparison to 2013, the average wealth has increased by 265%.
- The median wealth of an adult in India in 2021 was USD 3,457, an 8.2% increase over a year ago. In comparison to 2013, the average wealth has increased by 268%.
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