India, March 24 -- A report by the World Inequality Lab shows that 1% of the wealthiest Indians hold one-fourth of the country's wealth, higher than countries such as China, Brazil, South Africa and the United States. So much so, that the report claims that the inequality in wealth is highest in India since 1922, when the British ruled India.

The report, which is yet another example of income disparity in the country, said the distribution of economic growth in India has significant consequences on global inequality dynamics.

"Between 1960 and 2022, India's average income grew at 2.6% per year in real terms. Till the mid-1970s, aggregate national income experienced significant year-on-year volatility and growth remained sluggish. Growth...