India, April 9 -- In a diverse and democratic India, every citizen has an equal opportunity. A major global economic policy debate revolves around the pressing concern of wealth inequality in India. According to a recent research paper titled "Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj," released by The World Inequality Lab (WIL) at the Paris School of Economics, the top one percent of India's population held 40.1 percent of the country's wealth in 2022-23, marking one of the highest levels globally.

At the 2023 annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Oxfam International unequivocally released a report titled 'Survival of the Richest', revealing that the wealthiest on...