Social Media Means
Social Media Means
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As per the PLFS survey of 2019-20, the annual cumulative wages came to be around Rs 1,869 crore, out of which the top 1% earned nearly Rs 127 crore, and the bottom 10% accounted for a measly Rs 32.10 crore. This indicates that the top 1% earns almost thrice as much as the bottom 10%.
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Read More »Mumbai: If you earn a salary of Rs 25,000 or higher, then your pay ranks in the top 10% of the total wages earned in India. The State of Inequality in India report released by the Economic Advisory Council to the Prime Minister earlier this week sheds light on the economic polarities of income profiles in the country. The EAC-PM report has recommended that the government should consider formulating an urban equivalent of the Mahatma Gandhi National Rural Employment Guarantee Scheme that would offer guaranteed employment to the urban workforce. It has also asked the government to consider raising the minimum income level and introducing a universal basic income. Extrapolating from the Periodic Labour Force Survey, the report stated that the top 1% in India earns thrice as much as the bottom 10%. As per the PLFS survey of 2019-20, the annual cumulative wages came to be around Rs 1,869 crore, out of which the top 1% earned nearly Rs 127 crore, and the bottom 10% accounted for a measly Rs 32.10 crore. This indicates that the top 1% earns almost thrice as much as the bottom 10%. What is more sobering is the fact that this trend in income is not an aberration. In fact, in 2017-18, from the total approximate earning of Rs 1,784 crore, the top 1% earned about Rs 110 crore while the bottom 10% accounted for close to Rs 32.41 crore. This resulted in the top 1% earning more than thrice as much as the bottom 10%. What’s more, this trend is entrenching itself – with the top 1% earners accounting for a total of 6-7% of the total income earned. In 2018-19, their share shot up to 6.84% compared to 6.14% in 2017-2018. In 2019-20, the top 1% earners saw a slight moderation as their total income cooled down to 6.82% of the total income earned.
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Read More »The PLFS data cleaves the working force into regularly employed, self-employed and casual labourers. For the self-employed workforce, the average earnings were Rs 9,661 for males and Rs 4,558 for females in rural India. In the urban region, the average salaries for July-September 2019 period came to Rs 17,166 for males. Females earned an average of Rs 7,141. Likewise, the average monthly income for self-employed workers was Rs 9,945, which increased to Rs 10,538 in 2019.
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