"India's top 1 percent income and wealth shares have reached historical highs and are among the very highest in the world, according to a paper released by the World Inequality Lab. By 2022-23, the top 1% income share in India was 22.6% and the top 1% wealth share rose to 40.1%, with India's top 1% income share among the very highest in the world, higher than even South Africa, Brazil and the US." TIE. "The paper, co-authored by economists Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchy, said the country had reached its historical highs in the last financial year. Naming the paper the 'Billionaire Raj', the authors claimed that the country was now more unequal than even (during) the British Raj." MC. This has enraged the Bhakts (DH) who worship Dear Leader as the new Messiah, and the chamchas (wiktionary) who rush to defend their taxpayer-paid emoluments and perks bestowed on them by Dear Leader. The paper is all wrong because, "the authors have combined different sets of data and engaged in interpolations and extrapolations to arrive at their conclusions without reflecting much on the compatibility and consistency of data," wrote V Anantha Nageswaran & Diksha Supyal Bisht. They have used data from the Periodic Labout Force Survey (PLFS) and not from the recent Household Consumption Expenditure Survey (HCES) 2022-23, the middle class is expanding and absolute poverty is going down. Both the PLFS and HCES are government surveys, so their data should have been 'compatible' and 'consistent' such that there would be no need for so many 'inter and extrapolations'. "In the 2022 report, in order to harmonize, analyse, and disseminate comparable international inequality data, collaboration with statistical institutions, tax authorities, universities, and international organizations were made. It acknowledged they 'lack basic information about inequality'," wrote Prof Atanu Biswas. However, not all government data is poor. The International Labor Organization's (ILO) 'India Employment Report' was "full of praise for the quality of data produced by the Indian government, based on which the UN agency has presented its findings." It says that "83% of the country's unemployed are its youth". The Print. Also, "In India, higher educated young people are more likely to be unemployed than those without any schooling," and "The jobless rate for graduates was 29.1%, almost nine times higher than the 3.4% for those who can't read or write." TOI. Totally irrelevant because, "According to a recent study published in Lancet, 70% of India's urban population is classified as obese and overweight," "just behind the US and China, in the list of top 10 countries with the highest number of obese individuals." ET. This shows a very high proportion of 'equality', being ignorant is an advantage and the unemployed educated youth will benefit by eating less. Clap, clap.
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