India’s rich keep getting richer

Journalist Aunindyo Chakravarty explains the dichotomy of two Indians finding a place among the top ten billionaires of the world while billions struggle for a livelihood. He explains the policy paradigm that led to this moment

April 14, 2022 by Newsclick

The Forbes ‘Real Time’ Billionaire’s list, which lists the top 10 richest people in the world, has two Indians – Gautam Adani and Mukesh Ambani. At the same time, CMIE’s surveys say that employment levels in March 2022 are at the lowest that they have been since the second wave. This is despite the fact that there were very few COVID restrictions in March. India today has a handful of the world’s richest people and millions of extremely poor people. This extreme inequality is dangerous because it could turn India into a plutocracy, or a society that is ruled by the rich.

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