So we're all set to become a rising power - India's economy is supposed to overtake Japan by 2025 but this is the situation of wealth distribution in the country today: Have a peek
Top 1%: 16% of wealth
Top 5%: 38% of wealth
Top 10%: 53% of wealth
Bottom 80%: 30% of wealth
Bottom 50%: 8% of wealth
Bottom 20%: 1% of wealth
Bottom 10% 0.2% of wealth
(Source: University of Western Ontario, 2006)
35% of Indians live on less than $1 per day comparable to southern Africa - and at the same time, India has the world's largest number of billionaires next only to the USA.
No wonder where I look around, there is poverty and filth and the overseas image of this country is "rotten" - I investigate and find out the main reason why this country will remain "forever poor":
we are "insensitive" to poverty - countries like the UK and US have social insurance wherein people spend nearly 20% of their income for housing, medical and education and in this country, we all EVADE taxes
2007-03-18
10:10:47
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11 answers
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asked by
smacksgalore
2