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Wealth in India
Why is it in the news?
- As per a report by Swiss bank Credit Suisse, Household wealth in India, more than doubles to $12.6 trillion in 2019.
More in the news
- In 2018: Total wealth held by the households in the country had stood at $5.972 trillion in 2018.
- Findings of the Report:
(1) Household wealth in the country has grown four-times between 2000 and 2019.
(2) India will add another 43 percent or USD 4.4 trillion to wealth over the next five years.
(3) The wealth includes both financial as well as investments in real assets like gold and property, and also takes on board currency movements.
(4) There are 8.27 lakh Indian adults in the top 1 percent of global wealth-holders, who own 1.6 percent of the global wealth.
(5) Nearly 4,500 possess wealth of over $50 million, while 1,790 have over $100 million.
(6) India is ranked fifth among the countries with ultra high net-worth individuals.
(7) Disparity: While the number of wealthy people in India has been on the rise, a larger section of the population has still not been part of the growth in overall wealth. About 78% of the adult population has wealth below $10,000.
Source
The Hindu.