India's total wealth of 63 billionaires is higher than the country's budget

New Delhi, Jan 20, 2020, Monday

It is a bitter fact that economic inequality is also growing amidst the development that has taken place in India for the last few years. A similar situation is also occurring globally.

A report published before the 50th annual meeting of the World Economic Forum states that one per cent of India's population has four times more wealth than 95 million people.

It is estimated that the total wealth of the 63 Indian billionaires is higher than the budget of India for the whole year. These billionaires of India have assets worth over Rs 24.42 lakh crore, which is higher than the 2018-19 budget.

Speaking of the world, the 2153 billionaires of the world have more than 4.6 billion people living on this earth. Thus, more than 60% of the world's population has the wealth of these billionaires.

The report said that social unrest is on the rise due to inequality. Inequality, however, is also responsible for corruption, basic services and the rise in cost of goods.

The average economic inequality in the world has declined over the past three decades but in some countries inequality has increased. Due to this, especially the poor and women in it are coming to bear.