A statistical analysis of the research report presented by the World Inequality Lab on 2022 data was released in May under the title “Towards Tax Justice and Wealth Redistribution in India.”

2022 data was released in May under the title “Towards Tax Justice and Wealth Redistribution in India.”

This research sheds light on the glaring socioeconomic inequality, signifying that a limited class holds the majority of the country’s wealth.

Around 89% of the country’s wealth is held by upper castes, while scheduled caste communities have only a 2.6% share.

Caste-wise wealth possession (in %)

According to a survey conducted by the National Sample Survey Office (NSSO), the population of the OBC (other backward classes) category in the country is 40.94%, the SC (scheduled castes) category is 19.59%, the ST (scheduled tribes) category is 8.63%, and the other category is 30.80%.

Last year, Oxfam International released a report at the World Economic Forum, revealing that India’s richest 1% own over 40% of the country’s total wealth.

The bottom half of the population holds only 3% of the total wealth. If a 5% tax is imposed on the ten richest people in India, the generated money could be enough to send every child to school.

This research report is published by Anmol Somanchi of the Paris School of Economics. Somanchi says, “This report shows that the new billionaires who have emerged in the last few years are largely upper caste. Caste determines education, health, and social networks. In many parts of the country, Dalits are not allowed to own land, and this affects their economic progress.”

According to the report ‘State of Working India 2023’ released by Azim Premji University, SC and ST communities in India own far fewer establishments compared to other communities.

SC-ST communities face social discrimination and a lack of resources, education, and economic opportunities.

In 2019, a report based on a 2-year study by Savitribai Phule University, Pune, Jawaharlal Nehru University, and the Indian Institute of Dalit Studies in New Delhi revealed that 22.3% of the country’s total population is composed of upper-caste Hindus, and they own 41% of the country’s total wealth, making them the richest group.

OBCs have a 9% share of the country’s total wealth, while 7.8% of Hindu tribals have only 3.7% of the property.