Generalist

Founder

If only the top 1% could keep their money, would India have seen real progress

Software Developer

What is new? Classic example of pareto principle

A significant increase from 12.5% in 1980

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TIL - In India top 1% of income earners now control over 40% of the country's wealth

TIL - In India top 1% of income earners now control over 40% of the country's wealth- Grapevine

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The present-day golden era of Indian billionaires has produced soaring income inequality in India—now among the highest in the world and starker than in the U.S., Brazil, and South Africa. 

The gap between India’s rich and poor is now so wide that by some measures, the distribution of income in India was more equitable under British colonial rule than it is now.

Since the pandemic begun to Nov 2022, billionaires in India have seen their wealth surge by 121%, or INR 3608 Crore per day in real terms (Around INR 2.5 crore every minute).

Billionaire Raj: India's richest 1% holds 40% of the country's wealth

Consultant

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Recently I came across a report in ToI that said earning 80 K per month puts you at top 4% in India. Assuming that the stats is true, do you feel contended with what you earn?

Being in top 5% or 10%, I feel blessed.

Solution Architect

The last I saw, to be in top 1% individual in terms of wealth, you needed to have assets worth $77k. This is from news article of 2020. Sharing link here - 
https://timesofindia.indiatimes.com/business/india-business/this-is-what-it-takes-to-be-in-the-1-around-the-world/articleshow/74057315.cms

Now, based on new data, you need to have assets of around $175k. Approx 150% rise in 3 yrs! Link for the same -
https://www.moneycontrol.com/news/business/real-estate/indias-ultra-wealthy-population-to-surge-58-4-in-next-five-years-knight-frank-10605531.html


Is anyone here in top 1%?

What it takes to be in Top 1% of India

What percentage of Grapevine lies in the top 1%

India's wealth inequality is at a six-decade high with the top 1% owning 40.1% of wealth. Foreign investments led to a surge in billionaires post-1992. PM Modi's tenure saw a widening rich-poor gap amid rapid economic growth.

India's richest 1% has highest concentration of wealth in decades, study shows

Wealth inequality in India at it's highest. 1% of people control 40% of the wealth 🤔

Investment Associate

Rahul Gandhi in a rally says this :
"The youth who are unemployed and watching Facebook Instagram reels today will be given ₹1,00,000 khatakhat khatakhat!"

Now, I don't know how can someone be an advocate for this kind of statement?
I know this won't happen but at least give a proper reason. He is literally saying watch reels and earn.

I really feel privileged that TikTok is banned after hearing this from a leader who is trying to become PM of our country.

F Hard Work!

I just want to vent out! Many businesses are earning double than me and paying less than 50% of tax and yet here I am as a professional bound to pay tax. And that’s not enough, I still can get audited!

Paying 29L as tax this year!!

I paid 43L last year. 😤😖 
 It feels like I own every inch of new BLR airport. 😅

Engineering Manager

🇺🇸 President Biden proposes a 44.6% capital gains tax, the highest in history. 

The proposal also includes a 25% tax on unrealized gains for high-net-worth individuals.

Indian markets - be prepared for the biggest rally of the decade 🔥🔥🔥🔥

HUGE POSITIVE FOR INDIAN MARKET

Indian Market

Product Owner

Harsh truths and reality checks

- Congress has asked Prime Minister Narendra Modi for his stance on a billionaire tax ahead of the G20 meeting.
- Brazil's proposal for a 2% wealth tax on billionaires, supported by several countries, could raise significant funds for public investments.
- A research paper suggests a 2% wealth tax and a 33% inheritance tax in India could generate 2.73% of GDP in revenues.
- A survey shows 74% of Indians support taxing wealth to address global issues like hunger, inequality, and climate crisis.
- Former leaders have urged current G20 leaders to support a global billionaire tax, though some nations have raised objections. 

 Source: Economic Times

Congress Pushes for Billionaire Tax Amid Global Discussions

Journalist

This is reality in India too

You don't need to spoil kids with the best possible education, day care and shit they don't even need. 
  
 Today's parents are too much. Our generation didn't even have half the stuff that today's kids do, we still did alright.  
  
 Homeschooling is a great and realistic option that most people don't even consider. They just want to justify breaking their backs without even asking their own family if they need all that extra money and privileges.

As most of the people here  are working in corporates and most of them belong to the top 1% , i want to know the opinion of this segment of people about the modi government as problems faced by these people are totally different from the other population . Has the Modi government helped in growing businesses in any form ?

What opinion will you defend like this?

Sales Leader

Investor

When Grapevine says 1% of India's Top professionals, does that mean I should earn 53LPA 🥹

This should help everyone understand the true picture of income brackets Indians fall in, where do viners belong?

TIL - In India top 1% of income earners now control over 40% of the country's wealth

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