In India, rapid economic growth over the past three decades has been accompanied by a sharp rise in both income and wealth inequality. While the country boasts a booming high-tech services sector and a growing billionaire class, the top 1% of the population holds over 40% of the national wealth, and a massive proportion of the workforce remains in low-productivity informal employment.
Evaluate the primary economic causes of income and wealth inequalities in a rapidly developing economy such as India.
