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

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).

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?

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%?

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.

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!

🇺🇸 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