Top Indian wealth shares and inheritances 1966-1985

Rishabh Kumar

No nc63f, OSF Preprints from Center for Open Science

Abstract: Between 1953 and 1985 India implemented various progressive taxes on personal wealth. I use estate tax returns to compute top wealth shares (top 1%, top 0.1% and top 0.01%) over 1966-1985; a period marked explicitly by a dirigiste policy environment. These new series suggest that wealth concentration in India reduced substantially during the 1970s. Although the decline affected the entire top 1%, the losses faced by the top 0.01% were especially large. Combined with identical trends in top income shares, it appears that the 1950-80 expropriations of India’s rich had similarities to institutional transitions and shocks faced by European elites in the early to mid twentieth century.

Date: 2019-02-02
New Economics Papers: this item is included in nep-his
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Journal Article: Top Indian wealth shares and inheritances 1966–1985 (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:nc63f

DOI: 10.31219/osf.io/nc63f

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