Income disparity declined 74.2% in last 10 years for Rs 5 lakh annual income group: SBI study
Income disparity among those earning up to Rs 5 lakh annually has declined by over 74.2% between FY 2013-14 and 2022-23, as per an SBI report. This improvement highlights the government’s efforts in boosting lower-income groups’ earnings. The report also mentions a shift towards progressive taxation and improved tax compliance.