Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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&lt;p style=&quot;text-align:justify&quot;&gt;In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Unlike in the case of income, we do have direct surveys of asset holdings by households, conducted as part of the periodic All India Debt and Investment Surveys (AIDIS) which, in principle, should help assess trends in the levels and distribution of wealth at the household level. However, these too have many shortcomings. The information is based on asset holding as reported by those canvassed, which could lead to underreporting, especially in the case of the richer households that may not have reported the incomes used to acquire assets. The methods of attaching a value to the assets identified are not always robust. The coverage and valuation of holdings of financial assets are unreliable. And, given the difficulties of valuing household durable assets, including bullion, which is a major form of wealth holding among the middle- and upper-income groups, they have in recent rounds been left out of the survey. All this would, as in the case of the consumption expenditure surveys, result in considerable underestimation of wealth holding, and much more so in the highest asset holding classes.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;(This article was originally published in the Business Line on January 10, 2022)&lt;/em&gt;&lt;/p&gt;
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In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption..."/>
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                <strong>Misleading Picture of Household Wealth -CP Chandrasekhar and Jayati Ghosh</strong></h1>
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                <p style="text-align:justify">-The Hindu Business Line/ NetworkIdeas.org</p><p style="text-align:justify">In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.</p><p style="text-align:justify">Unlike in the case of income, we do have direct surveys of asset holdings by households, conducted as part of the periodic All India Debt and Investment Surveys (AIDIS) which, in principle, should help assess trends in the levels and distribution of wealth at the household level. However, these too have many shortcomings. The information is based on asset holding as reported by those canvassed, which could lead to underreporting, especially in the case of the richer households that may not have reported the incomes used to acquire assets. The methods of attaching a value to the assets identified are not always robust. The coverage and valuation of holdings of financial assets are unreliable. And, given the difficulties of valuing household durable assets, including bullion, which is a major form of wealth holding among the middle- and upper-income groups, they have in recent rounds been left out of the survey. All this would, as in the case of the consumption expenditure surveys, result in considerable underestimation of wealth holding, and much more so in the highest asset holding classes.</p><p style="text-align:justify">Please <a href="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg" title="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg">click here</a> to read more.&nbsp;</p><p style="text-align:justify"><em>(This article was originally published in the Business Line on January 10, 2022)</em></p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.&lt;/p&gt;

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&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;

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In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption..."/>
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                <strong>Misleading Picture of Household Wealth -CP Chandrasekhar and Jayati Ghosh</strong></h1>
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                <p style="text-align:justify">-The Hindu Business Line/ NetworkIdeas.org</p><p style="text-align:justify">In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.</p><p style="text-align:justify">Unlike in the case of income, we do have direct surveys of asset holdings by households, conducted as part of the periodic All India Debt and Investment Surveys (AIDIS) which, in principle, should help assess trends in the levels and distribution of wealth at the household level. However, these too have many shortcomings. The information is based on asset holding as reported by those canvassed, which could lead to underreporting, especially in the case of the richer households that may not have reported the incomes used to acquire assets. The methods of attaching a value to the assets identified are not always robust. The coverage and valuation of holdings of financial assets are unreliable. And, given the difficulties of valuing household durable assets, including bullion, which is a major form of wealth holding among the middle- and upper-income groups, they have in recent rounds been left out of the survey. All this would, as in the case of the consumption expenditure surveys, result in considerable underestimation of wealth holding, and much more so in the highest asset holding classes.</p><p style="text-align:justify">Please <a href="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg" title="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg">click here</a> to read more.&nbsp;</p><p style="text-align:justify"><em>(This article was originally published in the Business Line on January 10, 2022)</em></p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.&lt;/p&gt;

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In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption..."/>
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                <strong>Misleading Picture of Household Wealth -CP Chandrasekhar and Jayati Ghosh</strong></h1>
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                <p style="text-align:justify">-The Hindu Business Line/ NetworkIdeas.org</p><p style="text-align:justify">In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.</p><p style="text-align:justify">Unlike in the case of income, we do have direct surveys of asset holdings by households, conducted as part of the periodic All India Debt and Investment Surveys (AIDIS) which, in principle, should help assess trends in the levels and distribution of wealth at the household level. However, these too have many shortcomings. The information is based on asset holding as reported by those canvassed, which could lead to underreporting, especially in the case of the richer households that may not have reported the incomes used to acquire assets. The methods of attaching a value to the assets identified are not always robust. The coverage and valuation of holdings of financial assets are unreliable. And, given the difficulties of valuing household durable assets, including bullion, which is a major form of wealth holding among the middle- and upper-income groups, they have in recent rounds been left out of the survey. All this would, as in the case of the consumption expenditure surveys, result in considerable underestimation of wealth holding, and much more so in the highest asset holding classes.</p><p style="text-align:justify">Please <a href="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg" title="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg">click here</a> to read more.&nbsp;</p><p style="text-align:justify"><em>(This article was originally published in the Business Line on January 10, 2022)</em></p>               </font>
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<p style="text-align:justify">In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution.</p>

<p style="text-align:justify">Unlike in the case of income, we do have direct surveys of asset holdings by households, conducted as part of the periodic All India Debt and Investment Surveys (AIDIS) which, in principle, should help assess trends in the levels and distribution of wealth at the household level. However, these too have many shortcomings. The information is based on asset holding as reported by those canvassed, which could lead to underreporting, especially in the case of the richer households that may not have reported the incomes used to acquire assets. The methods of attaching a value to the assets identified are not always robust. The coverage and valuation of holdings of financial assets are unreliable. And, given the difficulties of valuing household durable assets, including bullion, which is a major form of wealth holding among the middle- and upper-income groups, they have in recent rounds been left out of the survey. All this would, as in the case of the consumption expenditure surveys, result in considerable underestimation of wealth holding, and much more so in the highest asset holding classes.</p>

<p style="text-align:justify">Please <a href="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg">click here</a> to read more.&nbsp;</p>

<p style="text-align:justify"><em>(This article was originally published in the Business Line on January 10, 2022)</em></p>
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<p style="text-align:justify">Please <a href="https://www.networkideas.org/featured-articles/2022/01/misleading-picture-of-household-wealth/?fbclid=IwAR2SayAuOCFypsfFgkPWoTt-VRGtWjFJ6kXJJ-ipQlzOovkec0gt0PPIWJg">click here</a> to read more.&nbsp;</p>

<p style="text-align:justify"><em>(This article was originally published in the Business Line on January 10, 2022)</em></p>
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Misleading Picture of Household Wealth -CP Chandrasekhar and Jayati Ghosh

-The Hindu Business Line/ NetworkIdeas.org In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth inequality in India has increased. Hard evidence on the extent of that increase is difficult to come by. One reason is that official surveys of trends in income in different income classes are not available. Using consumption surveys and treating consumption expenditure as a proxy for income does not help. Surveys of consumption expenditure and its distribution inadequately capture the gains registered by high-saving upper income group households and individuals and, therefore, fail to accurately reflect trends in inequality. Moreover, these surveys are known to significantly underestimate consumption in the upper percentiles of the distribution. Unlike in the case of income, we do have direct surveys of asset holdings by households, conducted as part of the periodic All India Debt and Investment Surveys (AIDIS) which, in principle, should help assess trends in the levels and distribution of wealth at the household level. However, these too have many shortcomings. The information is based on asset holding as reported by those canvassed, which could lead to underreporting, especially in the case of the richer households that may not have reported the incomes used to acquire assets. The methods of attaching a value to the assets identified are not always robust. The coverage and valuation of holdings of financial assets are unreliable. And, given the difficulties of valuing household durable assets, including bullion, which is a major form of wealth holding among the middle- and upper-income groups, they have in recent rounds been left out of the survey. All this would, as in the case of the consumption expenditure surveys, result in considerable underestimation of wealth holding, and much more so in the highest asset holding classes. Please click here to read more.  (This article was originally published in the Business Line on January 10, 2022)