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 »Himachal CM seeks return of money deposited for New Pension Scheme from Centre -Gaurav Bisht
-Hindustan Times The Himachal Pradesh government has written to the Centre asking for a refund of the money deposited for the New Pension Scheme, chief minister Sukhvinder Singh Sukhu announced on Wednesday. Shimla: The Himachal Pradesh government has written to the Centre asking for a refund of the money deposited for the New Pension Scheme (NPS), chief minister Sukhvinder Singh Sukhu announced on Wednesday, moving another step closer to fulfilling the poll...
More »Hardships faced can’t be seen as shortfall of demonetisation: Centre to SC -Abraham Thomas
-Hindustan Times The petitioners had questioned whether the Government carried out any study linking demonetisation as an effective tool to achieve the objectives of curbing black money, terror financing or fake currency. Hardships caused due to demonetisation cannot be the basis for faulting the Government’s 2016 notification to ban currency notes of ₹500 and ₹1000, the Centre told the Supreme Court, adding that the cutoff date December 30 fixed by the Centre...
More »First Time in 20 Years, Currency in Circulation Declines in a Busy Diwali Week: SBI
-The Telegraph In a remarkable development, for the first time in 20 years, currency in circulation (CIC) declined during Diwali week. With the increased acceptance of digital payments in the country, over-reliance on cash is slowly fading away. Over the years, the Indian cash-led economy has now changed to a smart-phone led payment economy, says a research note. In the report, Dr Soumya Kanti Ghosh, group chief economic adviser of State Bank...
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