Tag Archives: poverty

‘New India will be free of casteism, communalism’

In his last address in 2017 as part of his radio show Mann Ki Baat, Prime Minister Narendra Modi on Sunday said the country would be “free from the poison of casteism, communalism, terrorism and corruption”, as he called upon people to take the path of progress.

Modi called upon the “New India youth” to “take concrete steps in the journey from ‘positive India’ to ‘progressive India’.”

Recalling how Mahatma Gandhi turned the freedom movement into a mass struggle, Modi said that another mass movement was required to make “a magnificent, glorious 21st century India”. “A mass movement of development, a mass movement to build a capable and strong India,” he added.

He committed that  “…the new India will be free from the poison of Continue reading

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There could be 370,000 millionaires in India in 2022-says wealth report

LONDON: India has 340,000 people in the top 1% of global wealth holders accounting for a 0.7% share, including 1,820 with wealth over $50 million and 760 having more than $100 million, according to a new global wealth report released Tuesday.

The Zurich-based financial services major Credit Suisse estimates there could be 370,000 millionaires in India in 2022.

Since the financial crisis broke in 2008, the report says global wealth has grown by 27%. In the 12 months to mid-2017, it grew at a faster pace than in recent years, with mean wealth per adult reaching a record high.

“The United States continued its unbroken spell of gains since the financial crisis, bolstered by strong market conditions. It added $8.5 trillion to the stock of global wealth, which is half of the wealth generated globally over the 12 months to mid-2017.”

In percentage terms, India’s stock of household wealth during the period grew at 10.1%, although its addition to total global wealth was limited to $451 billion.

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