KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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Top 10% of Urban Indian Households has 7,517 Times the Assets of the Bottom Decile
The average value of assets (AVA) of the top ten percent of urban households in India is more than seven thousand five hundred times greater than what the bottom ten percent owns. The AVA of the top decile was Rs. 1.5 crores, while the lowest decile owned an average of Rs. 2,000 of assets. The data is part of the All India Debt and Investment Survey - 2019, the survey for...
More »India’s 20 Largest Profit Generators Are Earning 80% Of the Nation’s Profits - Nandita Rajhansa, Saurabh Mukherjea
A decade ago, this figure was around 40%. This is leading to an increasingly polarised stock market - Marcellus/The Wire The United Payments Interface and the digitisation of business activity in India are one of the several factors driving an exponential surge in the concentration of corporate profitability in India. Improvements in transport infrastructure (e.g., the highway network has doubled over the past decade), the introduction of GST (in 2017) and new...
More »Over 5 years, banks recovered just 13% of ₹10-lakh-cr loan write-off: Finmin data -Shishir Sinha
-The Hindu Business Line Banks continue to pursue recovery in written-off accounts, says FM Nirmala Sitharaman Scheduled commercial banks have recovered just 13 per cent of the total write-off in the last five years, Finance Ministry data presented in the Rajya Sabha on Tuesday showed. In response to two separate questions on the issue, the Ministry presented data on write-off and recovery. “As per inputs received from RBI, SCBs (schedule commercial bank) wrote-off an...
More »Explained: RBI’s concerns on slow deposit growth -Saptaparno Ghosh
-The Hindu Why did senior officials of the apex banking regulator meet the MD and CEOs of public and certain private sector banks? What are the possible reasons for low deposit growth? What is the net status of non-performing assets? Has credit growth risen when compared to the year-ago period? The story so far: The Governor, Deputy Governor and a few other senior officials of apex banking regulator, the Reserve Bank of...
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