From the 1950s to 2023, India's economic trajectory has undergone significant shifts, reflecting varying degrees of state control, liberalization, and technological advancement. The early years (1950s–1970s) under the "License Raj" were marked by state intervention and economic planning, yet income inequality persisted due to structural issues. The top 10% held a substantial share of national income, peaking at 36.5% in the late 1960s, while the bottom 50% struggled with modest gains.

Economic liberalization in 1991 reduced regulatory controls and boosted growth, but inclusivity remained elusive. By 2004-05, the top 10% held 36.1% of national income, with the bottom 50% declining to 19.6%. Technological advancements and globalization (2000s–2023) widened disparities, as the top 1% captured 9.0% of income during the pandemic in 2020-21.

Despite welfare schemes like MGNREGA and financial inclusion efforts, the bottom 10% consistently held a minimal share, highlighting persistent inequities. The Economic Survey 2023-24 calls for sustainable job creation, technology adaptation, and inclusive growth to address these disparities, emphasizing the challenges of balancing economic progress with equity.