India's richest 1% has highest concentration of wealth in decades, study shows

Malaysia News News

India's richest 1% has highest concentration of wealth in decades, study shows
Malaysia Latest News,Malaysia Headlines
  • 📰 staronline
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 75%

Located in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.

A man carries blankets as he crosses railway tracks on a foggy and cold winter morning in the northern Indian city of Allahabad December 29, 2014. REUTERS/Jitendra Prakash/File Photo

Since India, which won its independence in 1947 from Britain, opened its markets to foreign investment in 1992, its number of billionaires has surged. By the end of 2023, India's richest citizens owned 40.1% of the country's wealth, the highest since 1961, and their share of total income was 22.6%, the most since 1922, the study, whose four authors included Nitin Kumar Bharti and Thomas Piketty, found.His critics say his last two terms in office have been characterised by a widening gap between rich and the rural poor as India's economy grew at 8.4%, its fastest in one-and-half years, in the final three months of 2023.

The World Inequality Lab said factors, including a lack of education has trapped some people in low-paid jobs and depressed the growth of the bottom 50% and middle 40% of Indians.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

staronline /  🏆 4. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bernas adjusts price of imported white rice, 10kg bags to cost up to RM3 lessBernas adjusts price of imported white rice, 10kg bags to cost up to RM3 lessLocated in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.
Read more »

Strict enforcement needed for affordable imported white rice pricesStrict enforcement needed for affordable imported white rice pricesLocated in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.
Read more »

Couple escapes gallows, jailed 30 years for causing son's deathCouple escapes gallows, jailed 30 years for causing son's deathLocated in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.
Read more »

Malaysia architects' 2-storey terrace house in KL embraces natural elementsMalaysia architects' 2-storey terrace house in KL embraces natural elementsLocated in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.
Read more »

Seoul allocates new medical school slots despite doctors' strikeSeoul allocates new medical school slots despite doctors' strikeLocated in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.
Read more »

Sessions Court dismisses former Year Two pupil's suit against teacher, principal and govtSessions Court dismisses former Year Two pupil's suit against teacher, principal and govtLocated in Wangsa Ukay, Ampang, the home – which has undergone three major renovations – features a spiral staircase, perforated walls and skylight among its design elements.
Read more »



Render Time: 2025-02-22 07:43:30