December 9, 2019

India has 343000 Millionaires. It is also among the top 10 nations with the highest number of ultra rich population. This means the richest 10% control over 77% of India’s wealth worth $6 trillion.

With 176 million people living under extreme poverty, India also has the highest population of the world’s poor. The bottom 60% of India owns just around 5% of the country’s wealth. Thus India also has the widest income disparities in the world.

Although India has halved its poverty rate between 2005-20015, 75% of the rural population still survives on less than Rs.33 per day.

Distribution of wealth does not favour women. Even among the richest 10 %, women own just between 20-30% of the $6trillion wealth. This is much less than the global share of 40%.

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