Crorepati Taxpayers Surge by 5x: Income Inequality Also Gone Down

A recent SBI research report analyzing Income Tax Return (ITR) data shows that income inequality among individuals in India has decreased. The Gini Coefficient dropped from 0.489 in FY12 to 0.460 in FY23, suggesting that government efforts are helping lower-income groups. The report expects this trend to continue, predicting a further decrease to 0.441 by AY25.

By Avi G

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