A study by the Delhi School of Economics (DSE) has found that the wealthier a household, the lesser the income reported by it relative to its wealth. The recent measures taken by the government against unlawful income and wealth hoarding, however, have delivered the intended results, the study has found, with an increasing trend in income reported by the wealthiest in the past few years.
The study has estimated the relationship between wealth and reported income for more than 7,600 families and their adult members. The data sources include affidavits filed by election contestants in 2014 and 2019, the ProwessIQ dataset, the Forbes list of billionaires, the annual statistics published by the income-tax (I-T) department from 2013-14 to 2018-19, and the annual accounts of listed companies managed by the wealthiest Indian families (2014 and 2019).
The study found that the average taxable income reported by the bottom 10 per cent of households was more
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