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India’s Richest 1% Held 73% of Wealth in 2017
January 24, 2018
As per a recent Oxfam survey, the richest 1% individuals of India grabbed 73% of the total wealth that was generated in 2017, thus raising some major questions on the income inequality status in the country.
The survey also found that the financially weaker sections of the society that cover 67 crore Indians saw their wealth grow my a mere 1%.
The issue of income inequality isn’t a grave concern for India alone. Of the total wealth that was generated globally, about 82% went to the richest 1%. In addition to that, the poorest 3.7 billion people saw no increase in their wealth at all.
