More than 40% of the wealth created in the country from 2012 to 2021 had gone to just 1% of the population while only 3% had trickled down to the bottom 50%.
The wealth held by the top five percent is 61.7%, nearly 20 times greater than the 3% held by the bottom half.
The wealth held by the top five percent is 61.7%, nearly 20 times greater than the 3% held by the bottom half.
An Indian earning a monthly wage of Rs 25,000 is among the top 10 percent of earners in the country.
The average income of 90% of Indians is ~Rs 12,000 per month, and for the bottom 50% (which is 600 million people), it is Rs 4500 per month.
The average income of 90% of Indians is ~Rs 12,000 per month, and for the bottom 50% (which is 600 million people), it is Rs 4500 per month.
The richest have cornered a huge part of the wealth created through crony capitalism and inheritance.
The top 10% of the Indian population holds 77% of the total national wealth.
The top 10% of the Indian population holds 77% of the total national wealth.
73% of the wealth generated in 2017 went to the richest 1%; while 670 million Indians who comprise the poorest half of the population saw only a 1% increase in their wealth.
Billionaires' fortunes increased by almost 10 times over a decade and their total wealth is higher than the entire Union budget of India for the fiscal year 2018-19, which was at INR 24422 billion.
Many ordinary Indians are not able to access the health care they need.
63 million of them are pushed into poverty because of healthcare costs every year - almost two people every second.
63 million of them are pushed into poverty because of healthcare costs every year - almost two people every second.
It would take 941 years for a minimum wage worker in rural India to earn what the top paid executive at a leading Indian garment company earns in a year.
When @nsitharaman and #ModiGovt talk about per capita growth in India, she is essentially talking about how a gigantic growth of wealth amongst top earning 1% of India's population has an arithmetical impact while dividing the GDP Growth by India's population of 1,425,775,850 pax
Consider a mere 5% GDP Growth
GDP of India. The GDP size is currently ₹ 272.04 lakh crore; 5% of which is ₹13.60 Lakh Crores
Who takes home this ₹ 13.60 Lakh Crores?
Remember that this growth came from the hard work of our farmers, factory workers, unorganised labour etc.
GDP of India. The GDP size is currently ₹ 272.04 lakh crore; 5% of which is ₹13.60 Lakh Crores
Who takes home this ₹ 13.60 Lakh Crores?
Remember that this growth came from the hard work of our farmers, factory workers, unorganised labour etc.
61.7% of this growth in the country goes to 5% of its people. That is ₹8.39 Lakh Crores goes to 5% of the richest Indians
3% of this additional wealth generated, amounting to ₹ 0.408 Lakh Crores
is distributed amongst 50% of India's population totalling to 712,887,925 peopl
3% of this additional wealth generated, amounting to ₹ 0.408 Lakh Crores
is distributed amongst 50% of India's population totalling to 712,887,925 peopl
The number of middle-income taxpayers in India has declined dramatically after 2018-19. It fell 17% in following years, from 49.8 million to 41.1 million.
In the same period, the number of high-income taxpayers rose 15%.
In the same period, the number of high-income taxpayers rose 15%.
India still is home to the world's highest number of poor people, at 228.9 million.
The number of hungry Indians increased from 19 crore in 2018 to 35 crore in 2022 and with widespread hunger resulted in almost 65% of deaths among children under the age of five.
The number of hungry Indians increased from 19 crore in 2018 to 35 crore in 2022 and with widespread hunger resulted in almost 65% of deaths among children under the age of five.
Approximately 64% of the total 14.83 lakh crore collected in Goods and Services Tax (GST) by the Indian government came from the bottom 50% of the Indian population in 2021-2022, and only 3% of GST came from the top 10% of the population.
India is unfortunately on a fast track to becoming a country only for the rich.
India can save itself only through a political resolve.
The policies of the Nation's economy and its political narrative has to get real and align with ground reality.
The Pro Rich era has to end.
India can save itself only through a political resolve.
The policies of the Nation's economy and its political narrative has to get real and align with ground reality.
The Pro Rich era has to end.
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