The 10% of the richest Indians have more than half of the country’s physical and financial assets while the lowest 50% is less than 10%, the recently released government report shows.
Indian Debt & Investment Survey, 2019, carried out by a national sample survey showed 10% richest has 55.7% of total assets in urban areas and 50.8% in rural areas.
Assets are calculated by placing monetary values on all those owned by households, including physical assets such as land, buildings, livestock and vehicles and finance such as stocks in the company, deposits in banks, and post offices, etc.
The survey was conducted from January to December 2019, estimating that the total physical and financial assets owned by people who lived in rural areas were RS 274.6 lakh crore which RS 139.6 lakh crore was owned by 10% richest.
In rural areas, the top 10% assets are worth RS 132.5 lakh crore total RS 238.1 lakh crore.
The lowest 50% has 10.2% of assets in rural areas and which is even smaller 6.2% in urban areas.
The slope is more marked in several states.
In the countryside, where nearly two-thirds of Indian life, the slope is the highest in Delhi, with the top 10% having 80.8% assets and the lowest 50% only 2.1%.
This could be because of any high assessment left of rural land on the outskirts of the capital.
Among major countries, after Delhi, the inequality of assets in rural areas is long-term in Punjab where 10% richest has more than 65% assets and below 50% of only more than 5%.
Uttarakhand, Madhya Pradesh and Haryana have also said the slope of ownership of assets in the villages.
Among major countries (and UTS), the rural slope is the least in Jammu and Kashmir with the top 10% which has 32% and the bottom of 18%.
10% richest in India has more than 50% assets: NSS
