India's richest 21 have more wealth than 700 million Indians: Report

On an average, Indian billionaires increased their... moreOn an average, Indian billionaires increased their wealth by 120%. While the bottom 50% continue to battle inflation, and saw their wealth depreciate during the exact same period. An obvious question this gives rise to is if India should consider taxing its super rich. But more on that later. OXFAM recently published a report called ‘survival of the richest’’ on the opening day of World Economic Forum in Davos, Switzerland. The report makes more such shocking claims. It goes on to say that the richest 1% of the country own more than 40% of India’s total wealth. Whereas the bottom 50% or 70 crore people own just 3% of India’s total wealth.