Sunday, June 27, 2010

Rich have become richer and the poor poorer

Rich have become richer and the poor poorer

It was known all along. But now a Western financial services research firm has fully confirmed it. India is owned by a few rich families. Indeed, a mere 25 families own more than a third of the country’s entire wealth. A country of over 120 crores at best has only one lakh and twenty thousand people who own one-third of its wealth.

A few dollar billionaires own more than 20 per cent of the GDP, which, incidentally, is higher than the entire GDP of the agriculture sector on which subsists nearly two-thirds of the total population of India that is Bharat in essence.

These dollar billionaires can make or break governments, tailor-make official polices to suit their business interests and generally act as the real bosses of politicians in power as well as those sitting on the opposition benches. Governments come and go but these uber-rich individuals continue in power permanently. For, they fund almost all political leaders and parties.

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