Billionaires increased, but lower and middle class...?
There are two pictures of India. On one side there are poor and middle class people. On the other side there are rich and billionaires. But the common man's net worth is not increasing at the same pace as the rich and their wealth is increasing in the country.
For the first time, more than 1500 rich people have been included in the Hurun india Rich List. This number is 150% more than 7 years ago. The number of billionaires in india has also reached more than 300. Since this list started being released 13 years ago, the number of billionaires has increased 6 times. gautam adani has reached the first position in the 2024 Hurun india Rich List. With an increase of 95 percent, the total wealth of gautam adani and his family has reached Rs 11.6 lakh crore. According to the report, the wealth of 1539 people is more than Rs 1000 crore. 272 new people are included in this. According to this, a new billionaire was created in the country every 5th day last year.
The pace of reduction in the number of poor is slow
The number of rich in india has increased rapidly, but the number of poor has decreased slowly. Data Think Price's report shows that the number of rich in india has increased by 500 percent in 7 years, while the number of poor has decreased by only 58 percent. The population of the high income group increased from 10.1% in 2016 to 14.7% in 2023. After Covid, the population of the lower and middle class increased to 97.3 crores in 2020-21 compared to 64.9 crores, but it was 9.3 crores less than in 2016. This shows that economic inequality is increasing in India.
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