Hyderabad News Top Stories

96 pc of Indian population paying for bad karma of 4 pc

96 pc of Indian population paying for bad karma of 4 pc

Hyderabad: According to a report, annual income of 96 pc of the country’s population is less than 7 lakh per annum; to punish just 4 pc rich people, Prime Minister Narendra Modi has forced poor and middle class people to stand in long queues.

Global Wealth Databook 2016 revealed that the country has 2,48,000 adults in the top 1 per cent of global wealth holders while the top 1 per cent of India’s population owns 58.4 per cent of the country’s wealth. The richest 10 per cent of India’s population own 80.7 per cent of its wealth. The report noted that while wealth has been rising in the country, not everyone has shared this growth.

Going by the report, the demonetisation move taken by Narendra Modi has affected common men who make 96 pc of total population. They are working hard day and night to feed their family. They are burdened with loans. They are unable to draw their hard-earned money from banks. Rulers and rich have no feelings of what poor are going through. 4 pc population which owns wealth and properties are not in bank queues while 96 pc is bearing the brunt of currency crisis who are forced to queue up outside ATMs and banks.