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LATEST NEWS UPDATES | Signs of a plutocracy -Aunindyo Chakravarty

Signs of a plutocracy -Aunindyo Chakravarty

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published Published on Apr 3, 2021   modified Modified on Apr 5, 2021

-The Tribune

The bulk of assets with the ultra-rich who make up top 0.3% of our population

RUPERT HOOGEWERF, better known by his Chinese name Hu Run, went to Eton College, a school for the rich and the well-heeled. It is fitting therefore that he should track the rich in China and India. His latest Hurun Wealth Report for India paints an interesting picture of the direction India’s economy has taken.

We learn that India has 200 families with a net worth of a billion dollars. Another 3,000 families have assets worth Rs 1,000 crore; 13,000 families have wealth between Rs 200-1,000 crore; 23,000 households fall in the Rs 100-200 crore bracket; 2.94 lakh families have wealth between Rs 10-100 crore and another 4.12 lakh households own assets worth at a million dollars, or Rs 7-10 crore. Add all of them and you get about 8.5 lakh families with assets ranging from Rs 7 crore to over a billion dollars. That accounts for 0.3 per cent of all households in India.

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The Tribune, 3 April, 2021, https://www.tribuneindia.com/news/comment/signs-of-a-plutocracy-233777?fbclid=IwAR1TP_gYImkQbHH4OQd8Eu64F0sm8NHKvvvhBqaF1OZUMwdnN7gipon7nGA


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