India is 7th Wealthiest in the World, But Here’s the Worrying Fact
Recent rankings claim India is the seventh wealthiest country, but the poverty figures still remain disturbing.
A recent report claims that India is the seventh wealthiest country in the world. But all’s not well with this rosy picture. Check out this video to find out what’s wrong:
India has been ranked as the seventh wealthiest country in the world, in a report by New World Wealth. The report takes in account the total individual wealth of a country. India ranks above countries such as Australia, Canada.
Germany and France rank ahead of India, at fifth and sixth place, respectively. India’s total individual wealth is listed at 4,700 billion dollars.
Well, all’s not exactly right here...
An Indian earning more than Rs 32 in rural places, and Rs 47 in urban cities, is considered above poverty line. And in the daily earnings of a person living below poverty line, even a litre of milk is luxury.
Almost a fourth of India is very poor.
India may rank above Australia in total individual wealth...
...but when it comes to gross per capita income, in terms of purchasing power parity, India is way below Down Under.
Effectively, India’s top ranking is majorly because of its large population. While the aggregate wealth in India is higher than other countries, individual wealth in latter is more than the former.
One in every six urban Indian is living in a slum.
This.
Let’s celebrate!
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