December 2016 Current Affairs

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India’s wealth rises and also disparity: Credit Suisse Report

India’s wealth rises and also disparity: Credit Suisse Report
23 November 2016 Current Affairs: As per a report on global wealth published by Credit Suisse, the total quantum of wealth in India is rising but disparity between rich and poor is also rising. The report says that the uneven growth has left 96% of the adult population in India at the base of the wealth pyramid with wealth below $10,000. However, a small fraction of the adult population (0.3%) has net worth of more than $100,000.

Highlights from report Indian Scenario : The wealth in India is mostly dominated by property and other real estate. It makes up 86% of its estimated household assets. The wealth in India in local currency terms increased 5.1% in 2016 but due to adverse currency exchange movements. India’s household wealth fell by 0.8% to $3 trillion in dollar terms. The annual growth of wealth per adult in rupees has averaged 6% between 2000 and 2016. The number of millionaires remained flat at 1.78 lakh with $973 billion in wealth. Among these, ultra high-networth individuals increased by 5.2% to 2,260, including 1,040 with more than $100 million. The number of millionaires in India is projected to increase by 9.5% in the next five years to 2.8 lakh in 2021. Meanwhile, the personal debts are estimated to be 9% of gross assets in India which is much lower than in most developed countries.

Global Scenario : Overall growth in wealth remained limited in 2016. It is continuing the trend that had emerged in 2013 and is contrasting sharply with the double-digit growth rates witnessed before the global financial crisis of 2008. The total global wealth in 2016 edged up by 1.4% or $3.5 trillion to a total of $256 trillion, a rise in line with the increase in the world’s adult population.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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