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Do you know that richest 1% Indians own 53% of nation’s total wealth

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Captalism in India

According to Credit Suisse, India’s wealth increased by $2.284 trillion between 2000 and 2015. Of this rise, the richest 1% has hogged 61%, while the top 10% bagged 81%. The other 90% got the leftovers.

The richest 1% of Indians own 53% of the country’s wealth, according to the latest data on global wealth from Credit Suisse. The richest 5% own 68.6% of the country’s wealth, while the top 10% have 76.3%. At the other end of the pyramid, the poorer half of our countrymen jostles for 4.1% of the nation’s wealth. As Deng Xiaoping put it so pithily, “It is glorious to be rich.”

What’s more, things are getting more and more glorious for the rich. Data from Credit Suisse show that India’s richest 1% owned just 36.8% of the country’s wealth in 2000, while the share of the top 10% was 65.9%. Since then the richest have managed to steadily increase their share of the pie, as the chart shows. This happened during the years of the National Democratic Alliance (NDA) government from 2000-04, during the first United Progressive Alliance (UPA) government backed by the Left, during the second UPA tenure and now in the first year of the Modi government; the share of the top 1% has now crossed 50%. The colour of the government has been no impediment to the steady rise in the riches of the wealthy.

The chart shows that the difference between the share of the top 1% and that of the top 10% was 29.1 percentage points in 2000, but is down to 23.3 percentage points in 2015. In other words, the top 1% is eating into the share of the next 9%. The richest are growing at the expense of the relatively well-off. Between 2010 and 2015, the share of the poorer half of the population shrank from 5.3% to 4.1%.

According to Credit Suisse, India’s wealth increased by $2.284 trillion between 2000 and 2015. Of this rise, the richest 1% has hogged 61%, while the top 10% bagged 81%. The other 90% got the leftovers.

The share of India’s richest 1% is far ahead than that of top 1% of the US, who own a mere 37.3% of the total US wealth. But India’s finest still have a long way to go before they match Russia, where the top 1% own a stupendous 70.3% of the country’s wealth.

Misc News/Press Release

Himachal Reports 87 COVID-19 Deaths in 11 Days With a Steep Rise in Cases

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COVID-19 deaths in Himachal pradesh on november 10

Shimla-With nine more COVID-19 deaths on Wednesday, the tally for Himachal Pradesh has jumped to 399. The state is witnessing a surge in November as 87 deaths were reported during the last 11 days. Yesterday’s fatalities included seven males and two females aged between 45 to 87 years. Find the reasons for these fatalities below:

himachal pradesh -Update on covid-19 deaths

Further, according to the state Health Department’s official statistics, 610 new cases of COVID-19 were detected yesterday, of which Shimla reported highest (118) cases, followed by Mandi (116).

In Mandi district, as many as 26 more teachers and some students reportedly tested positive yesterday. The infected also included two doctors of Tanda Medical College, Kangra, and a couple of policemen in Sakoh.

Operation theatre at the Kamala Nehru Hospital, Shimla, was reportedly closed for a week. Similarly, the women police station in Shimla was also closed following the detection of a case.

Further, the state High Court has taken suo moto cognizance of a news report published in an English daily and issued a notice to the government. The news pertained to Indira Gandhi Medical College, which ran out of space for COVID-19 patients in isolation wards.

As per official data, the total for COVID-19 in the state had reached 27418 till yesterday evening (9 pm), of which 5605 were active cases. Mandi district has reported highest 4194 cases, followed by Solan (3958), Shimla (3725), and Kangra (3635).

The state government is barely speaking on the alarming rise in fatalities and its strategy to control it. But Chief Minister, while addressing a public meeting at Sihunta under Bhatiyat Assembly Constituency yesterday, did hail the Prime Minister and claimed that the nation is out of COVID-19 crisis.

“He (PM) has successfully brought the Nation out of Covid-19 crisis,”

Chief Minister said.

HP Health Department COVID-19 Bulletin for November 11, 2020 (9 pm)

 

 

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Himachal Reports 12 COVID-19 Deaths in Single Day, Surge in Cases in Shimla

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Himachal Pradesh COVID-19 deaths till diwali

Shimla-COVID-19 continues to wreak havoc in Himachal Pradesh as a record 12 fatalities were reported on Tuesday. Of the 611 new positive cases yesterday, Shimla reported highest 148 with seven fatalities. The deceased included 11 males and a female aged between 47 to 92 years.  During the last three days, the state has reported 25 fatalities. Find the details regarding the causes of deaths below:

Himachal Pradesh Record COVID-19 deaths

The state government had yesterday decided to close all educational institutes in Himachal for 15 days after over a hundred teachers and students tested positive in schools. The government termed it as a special vocation for students, teachers, and non-teaching staff of all educational institutes.

The capital has witnessed a surge as over 750 cases were reported during the last six days. In the season of festivity and marriages, social distancing and other guidelines issued by the MHA for personal protection are being flaunted, which is only fueling the spread. 

On top of it, the COVID-19 Hospitals in the state have begun to run out of beds for patients in isolation wards. The largest medical facility in the state – Indira Gandhi Medical College & Hospital- was packed to its full capacity, which was only 85 beds. Dr Rajneesh Pathania, Principal of IGMC, confirmed the report. According to media reports, DDU hospital, Shimla, had also run out of space. The government is yet to prepare the make-shift hospitals it had announced a couple of months ago. 

So far, according to the official statistics, the state had reported a total of 26808 cases till yesterday evening (9 pm), and the official COVID-19 death tally had mounted to 390.

HP Health Department COVID-19 Bulletin for November 9, 2020 (9 pm)

Update Himachal Pradesh COVID-19 for november 10, 2020

Featured Image: [email protected]

 

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Amid Alarming Surge in COVID-19 Cases and Deaths, Hospitals Including IGMC Running Out of Space

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covid-19 in himachal pradesh igmc beds full

Shimla– Amid the festive season, Himachal Pradesh is witnessing an alarming surge in COVID-19 cases and fatalities. As a matter of huge concern, the Indira Gandhi Medical College & Hospital, Shimla, has run out of beds in isolation facility and can’t accommodate more patient, unless someone is discharged or dies. There was space for only 85 patients at the hospital, which is full presently.

The DDU hospital, too, is running out of capacity with a surge in cases. Further, make-shift hospitals announced by the state government haven’t seen light of day. IGMC is the largest medical facility of the state and COVID-19 patients in critical condition were referred here.  

The situation could worsen due to the ongoing festive and wedding season. Markets are crowded and people are hardly following social distancing norms in marriages.

Further, yesterday seven people including a 16-year-old girl lost their lives. The decision to open schools seems to be backfiring as hundreds of teachers and several students were found positive for COVID-19 during the past few days. There are speculations that the state government could decide on closing schools for some time in the Cabinet meeting to be held today.

Details regarding the causes of fatalities below:

Himachal Pradesh COVID-19 deaths in november 2020 f

On Monday, five doctors and nine staff nurses at the Shri Lal Bahadur Shastri Government Medical College and Hospital, Nerchowk in Mandi district, tested positive.

Yesterday, the state reported a record 711 confirmed cases with seven fatalities in a single day. Shimla district reported the highest 204 confirmed cases.

The COVID-19 death tally has now mounted to 378, while the total number of cases had reached 26197 till yesterday evening (till 9 pm).

HP Health Department COVID-19 Bulletin for November 9, 2020 (9 pm)

 

Himachal Pradesh covid-19 cases on november 10

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