Mukesh Ambani leads the India pack with a net worth of $18.6 billion followed by Arcelor Mittal chairman and CEO Lakshmi Mittal and Wipro chariman Azim Premji. The list has a total of 1,645 billionaires with a combined net worth of $6.4 trillion, an increase of $1 trillion from 2013 !!
So the question is does it really matters to people like you and me?
According to the post Tax payers in India, which I have written earlier, Only 1% of the Indian population earns more than 20 lakhs per annum. (The data is based on the tax paid for the year 2011-12. I hope no drastic change has happened, because its incredible India). So the wealth remains with the top one percent and they have prospered incredibly while the bottom 99 percent have been screwed royally!
The world’s 85 richest people have more wealth than the poorer half of the world’s population combined. Some 2.4 billion people live on less than $2 per day.
The wealth share of these billionaires rose up in an incredible fashion while the poor remains poor. Though I am not against entrepreneurs and the billions they make. It’s because of their hardships and effort that we have some big companies to work for. But are they giving back enough to the society. Its mandatory in India that every company distributes their 2% of the annual revenue for corporate social responsibility. CSR has to be come from within yourself. It’s not something that needs to be forced upon.
The richest 85 people in the world own the same amount of wealth as the bottom half of the world’s population, IMF managing director Christine Lagarde said.
India’s income inequality has grown rapidly over the last 20 years. World Health Organisation studies has clearly found out that it is the wealthier citizens who benefit most from public healthcare because facilities are generally better in rich areas. As for the poor areas, low wages, long working hours, lack of basic services such as first aid, drinking water and sanitation characterize them. Without access to basic amenities, the poverty-reducing impact seems fruitless. (Source: Wikipedia)
Business owners like Vijay Mallya, Subrata Roy has accumulated wealth in a way that no one can question the sources of income. In short we cannot afford to have financial aristocrats rather we need noble elites.
For a country to be productive, every citizen of that country needs to be productive. Get everyone to be productive members of the society. We have seen enough scams and corruption stories in the last decade. What these stories has taught us is that rich becomes rich and poor becomes poorer. A piece of good act can bring a spring of changes.
If every billionaire spends a part of their earnings on the healthcare, education which are the basic necessities of any society, we would have laid the foundation of an inspiring society. We need more people like Azim Premji’s and Tata’s whose philanthropic efforts are worth mentioning.
Whether AAP can change our fate or not but Aam Aadmi will remain poorer always unless we change the attitude towards this income inequality. Rather than spending crores on hoardings for election campaigns, if government can talk about the real problems to solve the basic needs of any society, they can save crores from these hoarding campaigns. If they can lessen this gap and create a platform where money is not the basis of well-being and meaning for people’s lives, parties don’t need votes to win the hearts of Aam Aadmi.