Among the claims of India being on its way to becoming the world’s third-largest economy and one of the fastest-growing nations comes a harrowing reality: the top 1%, the richest in India, hold 40.1% of the nation’s wealth, whereas the bottom 50% own just 6.4%. According to a new report commissioned by the South African Presidency of the G20 on global inequality, a study conducted by Nobel Laureate Joseph Stiglitz has revealed that it has reached “emergency” levels globally. The term “emergency level” is no exaggeration because inequality, in essence, has a severe negative impact socially, economically, politically and environmentally, something that we see happening around us the world over—a growth in armed conflicts, a........

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