India’s top 1% now owns 40% of national wealth, per the World Inequality Lab 2024 report. The bottom 50% own just 3%. A wealth tax of 2% on net assets above Rs 10 crore could generate Rs 2.5 lakh crore annually, enough to more than double India’s education budget. Here is what the evidence from Norway, Spain, Switzerland, and France shows about whether it would work.
