According to studies party The World Inequality Lab, India’s population’s wealth concentration rate is at its highest level in six decades and exceeds that of nations like Brazil and the United States.
Since India, which won its independence in 1947 from Britain, opened its businesses to foreign investment in 1992, its number of entrepreneurs has surged.
The creators claim that the” Billionaire Raj” led by India’s contemporary aristocracy is now more uneven than the British Raj led by colonial forces.
By the end of 2023, India’s richest people owned 40.1 per cent of the country’s prosperity, the highest since 1961, and their share of total money was 22.6 per share, the most since 1922, the investigation, whose four writers included Nitin Kumar Bharti and Thomas Piketty, found.
Prime Minister Narendra Modi was elected in 2014 with a mission for development and economic reforms.
In the final three months of 2023, his critics claim that the growing distance between the rich and the remote weak contributed to his last two terms in office.
In rallies held back of national elections starting on April 16, India’s largest opposition party, Congress, has raised the question of Modi’s president’s closeness to billionaires.