Thursday, July 24, 2014

The New Rajahs

 India's rich hold assets worth a trillion dollars, which is around a fifth of the total wealth in the country. Within four years, that total is likely to reach $4tn (£2.3tn), the report says, making three times as many people multimillionaires.

 Murali Balaraman, a co-author of the report for the Kotak Mahindra bank says that growth in the number of rich people would not result in social tensions as a wide gap in incomes and wealth is an "accepted norm" in India. "People know that someone is rich and someone is poor and they carry on with their lives".

This inequality and its so-called acceptance (which conveniently ignores the widespread insurrectionary Naxalite movement) will meet with the increasing exposure and challenge from our comrades in the World Socialist Party (India) (website:

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