-The Hindu Business Line However, inequality is slightly down in the last two years, says a global wealth report Wealth of the rich in India has grown over the last decade and the pandemic-hit years too continued to see a stellar increase in the number of the rich. However, inequality in the country has reduced a tad over the last couple of years, implying that the increase in wealth was broad-based during...
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Credit Suisse report: ‘Despite Covid, wealth of Indian adults rises marginally in 6 months’
-The Indian Express Over the first half of 2020, while average wealth rose by only 1.7 per cent, Credit Suisse estimated that the full rise for 2020 will be 5-6 per cent and 2021 will see growth of about 9 per cent. The average wealth of Indian adults rose marginally by $120 (about Rs 8,800) to $17,420 (Rs 12.77 lakh) at end-June 2020, as against $17,300 as of December 2019, showing some...
More »Over 75% of Indians have personal wealth below $10,000: Report
-The Indian Express The average wealth of Indians in mid-2019 has more than doubled from last year and is estimated at $14,569. In 2018, the average wealth of Indians was $7,020. If seen from the perspective of the decade, from 2000 to 2019, wealth per adult grew by an average of 11 per cent annually. Although India ranks fifth globally in terms of the ultra-rich population — those with wealth in...
More »The slow climb to the trillion economy peak -Indira Hirway
-The Hindu There has to be a focus on human capital formation and in addressing the real reasons for the economic slowdown On Independence Day, the Prime Minister expressed confidence that India would be a $5-trillion economy in 2024, a line that has been picked up by ruling party leaders, Ministers and also senior government officers. However, this is surprising as the impact of economic growth on major development goals — examples being...
More »Exercise in manipulation -CP Chandrasekhar
-Frontline.in The political economy of the Modi regime was characterised by a redistribution of income in favour of a few and a worsened performance in job creation, welfare and alleviating deprivation. AT the end of its five-year term, the National Democratic Alliance (NDA) government’s claim that the Indian economy has experienced rapid growth during its tenure sounds shallow. The gross domestic product (GDP) numbers, many observers argue, are wrong and possibly fabricated....
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