Wealth amassed by 100 richest Indians during pandemic can give 13.8 cr poorest Rs 94k each: Oxfam
3 years, 10 months ago

Wealth amassed by 100 richest Indians during pandemic can give 13.8 cr poorest Rs 94k each: Oxfam

India TV News  

India's 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the COVID-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each. "India's 100 billionaires have seen their fortunes increase by Rs 12,97,822 crores since March last year which is enough to give every one of the 138 million poorest Indians a cheque for Rs 94,045 each," the report said. The report noted that billionaires like Gautam Adani, Shiv Nadar, Cyrus Poonawalla, Uday Kotak, Azim Premji, Sunil Mittal, Radhakrishan Damani, Kumar Manglam Birla and Laxmi Mittal working in sectors like coal, oil, telecom, medicines, pharmaceutical, education and retail increased their wealth exponentially since March 2020 when India announced world's biggest COVID-19 lockdown and economy came to standstill. The report said 1.7 crore women lost their job in April 2020 and unemployment for women rose by 15 per cent from a pre-lockdown level.

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History of this topic

Number of millionaires leaving India will reduce in 2024: Report
6 months ago

Number of millionaires leaving India will reduce in 2024: Report

Hindustan Times  

India will lose fewer millionaires to migration in 2024, compared with the previous two years, according to The Henley Private Wealth Migration Report 2024. Representational Around 4,300 millionaires are likely to exit the country in 2024 compared with 5,100 in the previous year, according to the report. The UAE is likely to be the largest beneficiary, gaining 6,800 millionaires in …

Forbes Richest List 2024: India Adds 25 New Billionaires, Mukesh Ambani Tops In India, Gautam Adani At 2
8 months, 3 weeks ago

Forbes Richest List 2024: India Adds 25 New Billionaires, Mukesh Ambani Tops In India, Gautam Adani At 2

News 18  

India added 25 new billionaires this year, increasing the total number of billionaires in the country to 200 as compared to 169 last year, according to the latest ‘Forbes World’s Billionaires List 2024′. Among Indians, Reliance Industries Ltd CMD Mukesh Ambani topped the billionaires’ list with a total networth of $116 billion, followed by Gautam Adani, Shiv Nadar, Savitri Jindal …

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?
8 months, 3 weeks ago

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?

Deccan Chronicle  

The view from the penthouse and the pavement is staggeringly different. By 2022-23, the top one per cent income and wealth shares are at their highest historical levels; India’s top one per cent income share is among the very highest in the world, higher than even South Africa, Brazil, and the United States, notes the paper, titled “Income and Wealth …

Billionaires Today $3.3 Billion Richer Than They Were in 2020, Richest Five Men Doubled Fortune
11 months, 1 week ago

Billionaires Today $3.3 Billion Richer Than They Were in 2020, Richest Five Men Doubled Fortune

News 18  

The world’s wealthiest five men have more than doubled their fortune since 2020, the charity Oxfam said on Monday, as it called on nations to resist the ultra-rich’s influence over tax policy. A report from the charity, published as the global elite hobnob at the World Economic Forum in Davos this week, said their wealth rose from $405 billion in …

PM Modi says 13.5 crore Indians rose above poverty line in last 5 years
1 year, 4 months ago

PM Modi says 13.5 crore Indians rose above poverty line in last 5 years

Live Mint  

New Delhi: A staggering 13.50 crore Indians have risen above the poverty line in the past five years, Prime Minister Narendra Modi said on Monday quoting a recent NITI Aayog report. Speaking at the Madhya Pradesh Rozgar Mela, the prime minister said, “When decisions are made with positive thinking, right intention, and full integrity, the whole environment gets filled with …

China, US have 53% billionaires, India ranks the third
1 year, 9 months ago

China, US have 53% billionaires, India ranks the third

Live Mint  

The Hurun Global Rich List 2023 reveals that China and the United States have the highest number of billionaires, accounting for 53% of the global billionaire population. The report also highlights that Indians are climbing the ranks of the Hurun Global Rich List at the fastest pace in India's modern history, with Gautam Adani and his family gaining more than …

Hurun Rich List 2023: Rekha Rakesh Jhunjhunwala Tops List Among 16 New Indian Billionaires
1 year, 9 months ago

Hurun Rich List 2023: Rekha Rakesh Jhunjhunwala Tops List Among 16 New Indian Billionaires

News 18  

While the number of billionaires fell eight per cent globally, India added 16 billionaires and has been ranked third globally with Rekha Rakesh Jhunjhunwala and family topping the list, according to the 2023 M3M Hurun Global Rich List. According to the 2023 M3M Hurun Global Rich List, 176 new faces were added globally to the list from 18 industries and …

Why are India’s poorest people being left behind?
1 year, 10 months ago

Why are India’s poorest people being left behind?

Al Jazeera  

On Tuesday, February 7 at 19:30 GMT: India’s BJP-led government says its final budget before a general election in 2024 will spur economic growth, but opposition politicians are among critics who say it fails to address ever-deepening income and wealth inequality highlighted by anti-poverty groups. But it does not include the re-introduction of a wealth tax on the rich that …

Budget 2023: Tax Cuts To Factory Incentives. Here's What To Watch For In Modi Govt's Final Full-Year Budget
1 year, 10 months ago

Budget 2023: Tax Cuts To Factory Incentives. Here's What To Watch For In Modi Govt's Final Full-Year Budget

ABP News  

The Union Budget, which will be tabled on Wednesday, will test the government’s resolve to stay fiscally prudent as expectations of lower taxes, wider social security net, and further boost to production gain steam before general elections in 2024. According to Bloomberg, Finance Minister Nirmala Sitharaman may tweak income-tax slabs to provide relief to the nation’s vast middle class and …

India’s richest 1 per cent own more than 40 per cent of total wealth: Oxfam
1 year, 11 months ago

India’s richest 1 per cent own more than 40 per cent of total wealth: Oxfam

The Hindu  

Published : Jan 16, 2023 15:59 IST The richest one per cent in India now own more than 40 per cent of the country’s total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on January 16. Releasing the India supplement of its annual inequality report on the first …

Taxing India’s Richest By 5% Can Bring ‘All Children Back To School’: Oxfam
1 year, 11 months ago

Taxing India’s Richest By 5% Can Bring ‘All Children Back To School’: Oxfam

News 18  

If Indian billionaires are taxed ‘once’ at 2 per cent on their entire wealth, the government can receive funding support for their nutrition program for ‘the next three years’. With 102 in 2020 to 166 in 2022, the combined wealth of India’s 100 richest has touched USD 660 billion and can fund the entire Union Budget for more than 18 …

India\'s richest 1% own more than 40% of total wealth: Oxfam
1 year, 11 months ago

India\'s richest 1% own more than 40% of total wealth: Oxfam

Deccan Chronicle  

Davos: The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual …

India's richest 1 per cent own more than 40 per cent of total wealth: Oxfam
1 year, 11 months ago

India's richest 1 per cent own more than 40 per cent of total wealth: Oxfam

Firstpost  

Davos: The richest one per cent in India now own more than 40 per cent of the country’s total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual …

India's richest 1% own more than 40% of total wealth: Oxfam
1 year, 11 months ago

India's richest 1% own more than 40% of total wealth: Oxfam

The Hindu  

The richest 1% in India now own more than 40% of the country's total wealth, while the bottom half of the population together share just 3% of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International …

India's 100 richest got richer in 2022: Forbes data; wealth grew to...|Top 10
2 years ago

India's 100 richest got richer in 2022: Forbes data; wealth grew to...|Top 10

Hindustan Times  

Do you know what the worth of the top 10 richest people in India is? While 2023 may look like recession to many in the world, as per the International Monetary Fund, the wealthiest people in India have had a fruitful year, the Forbes’ 2022 list reveals. Gautam Adani and Mukesh Ambani are said to account for about 30 per …

Adani & family top IIFL Wealth Hurun India Rich List
2 years, 3 months ago

Adani & family top IIFL Wealth Hurun India Rich List

The Hindu  

Gautam Adani and family, with an estimated wealth of ₹10,94,400 crore, has topped the IIFL Wealth Hurun India Rich List 2022, which was released on Wednesday. Mukesh Ambani and family has been named as the second richest in India with an estimated wealth of ₹7,94,700 crore, a growth of 11% compared with the 2021 list. While Gautam Adani and family …

India is the 3rd Largest Billionaire-Producing Nation in the World, Adds 58 New Entrants in 2022
2 years, 9 months ago

India is the 3rd Largest Billionaire-Producing Nation in the World, Adds 58 New Entrants in 2022

News 18  

M3M Hurun Global Rich List 2022: The latest rich list by Hurun highlights the number of Indian billionaires in the context of the world. Over the last 10 years, Indian billionaires in 2022 M3M Hurun global rich list added circa US$ 700 billion to their cumulative wealth – this is equivalent to Switzerland’s GDP and twice the GDP of UAE. …

Number Theory: How rich are India’s richest – and how poor are the rest?
2 years, 9 months ago

Number Theory: How rich are India’s richest – and how poor are the rest?

Hindustan Times  

The scourge of wealth inequality is a global phenomenon. In a recently released working paper “The sky and the stratosphere: concentrated wealth in India during the lost decade”, we studied the changes in the household wealth distribution between 2012 and 2018. Official data suggests that the Gini coefficient of per adult household wealth in India fell from 0.718 in 2012 …

Manish Tewari | Budget 22’s key challenge: Employment generation
2 years, 10 months ago

Manish Tewari | Budget 22’s key challenge: Employment generation

Deccan Chronicle  

On January 31, 2022, Parliament would meet for the Budget Session. According to numbers put out by the World Bank, the global employment rate stood at 55 per cent during pandemic-ravaged 2020 and 58 per cent in 2019. The World Bank’s latest forecast on Global Economic Prospects opines rather morosely, “Global growth is expected to decelerate markedly from 5.5 per …

Oxfam report says over 16 crore more people forced into poverty in two years of pandemic
2 years, 11 months ago

Oxfam report says over 16 crore more people forced into poverty in two years of pandemic

The Hindu  

The first two years of the COVID-19 pandemic saw incomes of 99% of humanity fall and over 16 crore people were forced into poverty even as the world's ten richest men saw their fortune more than double to $1.5 trillion at a rate of $1.3 billion a day, a new study showed on Monday. The world's ten richest men saw …

Number of Indian billionaires rose to 142 in 2021
2 years, 11 months ago

Number of Indian billionaires rose to 142 in 2021

New Indian Express  

NEW DELHI: The number of Indian billionaires grew from 102 to 142, while 84 per cent of households in the country suffered a decline in their income in 2021, which was also a year marked by tremendous loss of life and livelihoods, according to non profit Oxfam India's latest report published on Monday. It indicates that the collective wealth of …

Forbes list of 100 richest Indians sees 50% wealth rise, Mukesh Ambani retains top spot
3 years, 2 months ago

Forbes list of 100 richest Indians sees 50% wealth rise, Mukesh Ambani retains top spot

India Today  

The fortunes of India’s richest have witnessed a 50 per cent rise during the Covid-19 pandemic, according to the Forbes list of 100 richest Indians in 2021. The combined wealth of 100 richest Indians on the 2021 Forbes List jumped to a record $775 billion after — a rise of $257 billion or 50% over the past 12 months. MUKESH …

India's Top Richest List 2021: Know How Much Mukesh Ambani, Adani, Shiv Nadar Earn Per Day
3 years, 2 months ago

India's Top Richest List 2021: Know How Much Mukesh Ambani, Adani, Shiv Nadar Earn Per Day

News 18  

Business tycoon Mukesh Ambani is featured at the number one spot in IIFL Wealth Hurun India Rich List 2021 for the 10th time in a row. Mukesh Ambani and the family at spot 1 in the list and the total wealth of the group stands at 7,18,000, the Ambani has earned 164 crores every day. Sixth position was occupied by …

Asset ownership data a stark reminder of inequality
3 years, 3 months ago

Asset ownership data a stark reminder of inequality

New Indian Express  

A National Sample Survey report on ownership of assets has revealed that about 10% of Indians own over 50% of the total assets, with the skew greater in urban areas. This government survey falls more or less in line with reports prepared by NGOs and other agencies, which have stressed that while poverty is declining and growth opportunities have increased, …

Pandemic pushed over 3 crore Indians out of middle class: Pew Research
3 years, 9 months ago

Pandemic pushed over 3 crore Indians out of middle class: Pew Research

India Today  

A recent research report has revealed that the novel coronavirus pandemic last year pushed approximately 3.2 crore Indians out of the middle class. The report prepared by the US-based Pew Research Center showed that the number of Indians in the middle class — those who earn between $10 to $20 per day — shrunk by roughly 3.2 crores. Read | …

Pandemic pushes 32 mn Indians out of middle class: Pew Research
3 years, 9 months ago

Pandemic pushes 32 mn Indians out of middle class: Pew Research

Live Mint  

Financial woes brought by last year's coronavirus pandemic have pushed about 32 million Indians out of the middle class, undoing years of economic gains, a report showed on Thursday, while job losses pushed millions into poverty. The number of Indians in the middle class, or those earning between $10 and $20 a day, shrunk by about 32 million, compared with …

Hurun Global Rich List 2021: Amidst Pandemic, India Added 40 More Billionaires Last Year
3 years, 9 months ago

Hurun Global Rich List 2021: Amidst Pandemic, India Added 40 More Billionaires Last Year

ABP News  

In 2020 during the COVID-19 pandemic, India added 40 more billionaires, rising to the third spot globally with record 177 billionaires after China and the US, according to Hurun Global Rich List 2021. Pankaj Munjal & family, 58, of cycle manufacturer Hero Cycles, made to the list for the first time with $1.2 billion on the back of the surging …

Billionaires Like Ambani Got Richer Amid COVID, Poor Poorer: Oxfam
3 years, 10 months ago

Billionaires Like Ambani Got Richer Amid COVID, Poor Poorer: Oxfam

The Quint  

The report said: "Worldwide, billionaires' wealth increased by a staggering $3.9 trillion between 18 March and 31 December, 2020. at the same time it is estimated that the total number of people living in poverty could have increased by between 200 million and 500 million.” Oxfam also reportedly said that the increase in the wealth, since the coronavirus crisis began, …

Wealth Earned by 100 Richest Indians During Pandemic Can Give 13.8 crore Poorest Rs 94,000 Each: Report
3 years, 10 months ago

Wealth Earned by 100 Richest Indians During Pandemic Can Give 13.8 crore Poorest Rs 94,000 Each: Report

News 18  

India’s 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the COVID-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each. ”India’s 100 billionaires have seen their fortunes increase by Rs 12,97,822 crores since March last year which is enough …

Indian billionaires increased their wealth by 35% during the lockdown, says Oxfam report
3 years, 10 months ago

Indian billionaires increased their wealth by 35% during the lockdown, says Oxfam report

The Hindu  

Indian billionaires increased their wealth by 35% during the lockdown to ₹ 3 trillion, ranking India after U.S., China, Germany, Russia and France. Out of these, the rise in fortunes for the top 100 billionaires since the lockdown in March is enough to give every one of the 138 million poorest Indian people a cheque for ₹94,045 each, according to …

Mukesh Ambani earned Rs 90 crore per hour during pandemic: Oxfam report
3 years, 10 months ago

Mukesh Ambani earned Rs 90 crore per hour during pandemic: Oxfam report

India Today  

It would have taken 10,000 years for an unskilled worker to make what Reliance Industries Limited chairman Mukesh Ambani made in an hour during the coronavirus pandemic, according to a recent Oxfam report. According to the Oxfam report, Ambani earned Rs 90 crore per hour during the coronavirus pandemic. Read | Your salaries remain stagnant, but companies are making a …

Mukesh Ambani earned ₹90 cr every hour since lockdown, tops Hurun India Rich list 2020 for 9th year
4 years, 2 months ago

Mukesh Ambani earned ₹90 cr every hour since lockdown, tops Hurun India Rich list 2020 for 9th year

Live Mint  

India's richest man Mukesh Ambani, who surged past Silicon Valley tech titan Elon Musk and Alphabet co-founders Sergey Brin and Larry Page to become the world's fourth-richest person, has earned ₹90 crore every hour since the March lockdown this year, according to IIFL Wealth Hurun India Rich List 2020. Mukesh Ambani’s personal wealth rose by ₹2,77,700 crore to ₹6,58,400 crore …

Explained: How a raging pandemic is widening India's wealth gap
4 years, 3 months ago

Explained: How a raging pandemic is widening India's wealth gap

India Today  

Ever since India gained Independence, the country has traversed a wave of ups and downs to finally become a global powerhouse over the last five years. In India, the wealth gap has been rising sharply during the ongoing pandemic as previous levels of income inequality were already high in the country. A January 2020 study by rights group Oxfam India …

India's Richest 1% Seeks to Maintain Wealth Share, While Millions Struggle to Climb Out of Poverty
6 years, 11 months ago

India's Richest 1% Seeks to Maintain Wealth Share, While Millions Struggle to Climb Out of Poverty

The Quint  

The Oxfam survey has released its annual report on wealth distribution, highlighting the stark wealth gap between the 1% and the rest of the population. India's richest 1 percent holds 58% of the country's wealth, with their wealth increasing by over Rs 20.9 lakh crore in 2017. This indicates that the wealth of the richest 1 percent is disproportionately high …

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