Re: [mukto-mona] Indian Millionaires Now Worth $1.5 Trillion And Rising

In a capitalistic world, there is no shame to make money as Jews have been doing for centuries. They got the money-power whether we like or not. The wealth did not come from the vacuum either. They created it with their hard work. Since the money and wealth would not leave this mortal world, the wealth will be used eventually to make people' lives better... by education and job creation. Let capital manage their wealth than government distributing it through the socialism scam.

On Saturday, July 23, 2016 5:49 PM, "Jiten Roy jnrsr53@yahoo.com [mukto-mona]" <mukto-mona@yahoogroups.com> wrote:

 

Yes, Indian economic progress is impressive, but, not equitably distributed right now. Also, it's the initial phase of growth in India, and, in my view, it should be left alone at this stage. If government starts distribution of wealth at this stage, it will surely decelerate the growth, and could even nip the growth in the bud.

So, I say, let it grow freely for a while until it matures, and then think about distribution of wealth.

It's surely comforting to see an economy at our backyard finally competing with the economy of the developed world. Hope, Bangladesh can learn and benefit from it.

I am sure, Bangladesh could have done the same, if not better, by now had there been vibrant secular democracy, and the country was free from the international Islamic theocratic conspiracy. Such conspiracy has been a drag on the economic growth, and it's so strong right now that I cannot be hopeful about the future of that country any longer. If you disagree with me, just look at the neighboring Pakistan.

Jiten Roy

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From: "ANISUR RAHMAN anisur.rahman1@btinternet.com [mukto-mona]" <mukto-mona@yahoogroups.com>
To: mukto-mona@yahoogroups.com
Sent: Saturday, July 23, 2016 4:17 PM
Subject: Re: [mukto-mona] Indian Millionaires Now Worth $1.5 Trillion And Rising

 

One may cite the above statistic with a sense of pride that, whereas in the rest of the world the net worth of millionaires had come down or increased very slightly, in India it had gone up by more than 60% and the number of millionaires had gone up by 55%. It is a matter of total shame for India. It only shows how unequal the Indian society is. Millionaires comprising 0.02% live in super luxury, whereas nearly 35% of the population live below the poverty line. If just 10% of the millionaires wealth ($1.7 trillion) is taken from them in the form of tax, then the Indian government can do tremendous amount of development work with this $170 billion to alleviate poverty, national reconstruction etc. Prof. Amartya Sen had repeatedly pointed out for a long time that Indian society is disgracefully unequal.

- AR  

On Saturday, 23 July 2016, 19:01, "Jiten Roy jnrsr53@yahoo.com [mukto-mona]" <mukto-mona@yahoogroups.com> wrote:

 

 

http://www.forbes.com/sites/ranisingh/2016/07/22/indian-millionaires-worth-1-5-trillion-numbers-up-55-in-less-than-a-decade/3/#6f07482d4e02   

Indian Millionaires Now Worth $1.5 Trillion And Rising

Forbes Fri, Jul 22 7:12 AM PDT

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   A new study found that Indian High Net Worth numbers increased by 55% from 152,000 in 2007 to 236,000 High Net Worth Individuals in 2015. Their combined wealth rose by 67%, from $0.9 trillion in 2007 to $1.5 trillion in 2015. New World Wealth, a regular source of data and insight for these columns, has just come up with new research conducted over eight years. It started in 2007, just before the global financial crisis, and finished in 2015, when most countries were experiencing negative or negligible growth. "Millionaires" or "HNWIs," High Net Worth Individuals" refer to individuals with net assets of a million or more dollars. The study found that growth was positively impacted by local construction, ...
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Posted by: Shah Deeldar <shahdeeldar@yahoo.com>

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