Mumbai wealthiest city in India with total wealth of $820 bn; Bengaluru third

September 29, 2016

New Delhi, Sep 29: India's financial capital Mumbai, home to 45,000 millionaires and 28 billionaires, is the wealthiest city in the country with total wealth of USD 820 billion, says a report.

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According to New World Wealth, Mumbai is followed by Delhi and Bengaluru at the second and third place respectively.

While Delhi, home to 22,000 millionaires and 18 billionaires has total wealth of USD 450 billion, Bengaluru boasts of a total wealth of USD 320 billion. The city is home to 7,500 millionaires and 8 billionaires. Total wealth refers to the private wealth held by all individuals.

The report defines 'wealth' as the net assets of a person. It includes all their assets (property, cash, equity, business interests) less any liabilities. The report excludes government funds from its figures.

As per the report, the total wealth held in the country amounts to USD 5.6 trillion (as of June 2016). The country is home to 264,000 millionaires and 95 billionaires in total.

Other emerging cities in the country include, Surat, Ahmadabad, Visakhapatnam, Goa, Chandigarh, Jaipur and Vadodara, the report said.

It noted that over the next decade, India is expected to benefit from strong growth in local financial services, IT, real estate, healthcare and media sectors.

"In particular, the local hospital services and health insurance sectors are expected to grow strongly. Hyderabad, Pune and Bengaluru are expected to lead the pack in terms of wealth growth," it said.

Millionaires or high net worth individuals (HNWIs) refer to individuals with net assets of USD 1 million or more. Billionaires refer to individuals with net assets of USD 1 billion or more.

Other wealthiest cities include, Hyderabad (total wealth of USD 310 billion, has 8,200 millionaires, 7 billionaires); Kolkata (USD 290 billion, has 8,600 millionaires and 10 billionaires); Pune (USD 180 billion, has 3,900 millionaires and 5 billionaires); Chennai (USD 150 billion and has 6,200 millionaires and 4 billionaires) and Gurgaon (USD 110 billion and home to 3,600 millionaires and 2 billionaires).

Comments

abdullah
 - 
Thursday, 29 Sep 2016

What about a common man???
he is struggling for one time food also.
All facilities denied to him. Our country is looted by these rich men.

Rikaz
 - 
Thursday, 29 Sep 2016

These wealth are held with richest people!

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News Network
April 13,2024

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Mysuru, Apr 13: Karnataka Chief Minister Siddaramaiah said that Prime Minister Narendra Modi, who will be visiting Mysuru on Sunday, is welcome in the state.

"Let him come and go. He is the PM. But he should tell people about what he has done to the people of Karnataka. Let him answer about the injustice done by the Union Government towards the state in terms of giving tax share, not releasing drought relief funds yet and also about the unemployment issue," he said.

The Chief Minister was speaking to media people near his residence at Sharadadevi Nagar in Mysuru on Saturday.

Reacting to a question on BJP's slogan, 'Teesri Baar Modi Sarkar, Ab Ki Baar Char Sau Paar' (Modi government for the third time with over 400 seats), CM Siddaramaiah said, "This slogan is only a strategy to divert the minds of people. Because, according to me, the NDA will not get an absolute majority/simple majority this time in the Parliament elections."

"I.N.D.I.A. bloc and the parties which are against BJP will get a majority in the Lok Sabha polls," he said.

Responding to the statement of BJP leaders that 'even if B R Ambedkar comes, the Indian Constitution cannot be changed', Siddaramaiah said, "BJP is always against the Indian Constitution. Savarkar and the second Chief of RSS M S Golwalkar both opposed the Indian Constitution written by Baba Saheb B R Ambedkar on January 26, 1950."

"When BJP MP Ananth Kumar Hegde spoke about changing the Indian Constitution twice, why wasn't he punished? Why wasn't he suspended from the party? Why didn't they drop him from the cabinet?"

"Hegde was not given a ticket for the LS polls, as he had not done any work in the five years and was only active for the last three-four months of his term. The reason Hegde was not given a ticket was because BJP had realised that he would lose the elections, and not because of his statement related to the Constitution" the Chief Minister said.

Meanwhile, regarding the nabbing of the two key suspects in the Rameshwaram Cafe blast case in Bengaluru, Siddaramaiah said, "I thank the National Investigation Agency (NIA) and also the Karnataka police for tracing and arresting the accused in the case, in Kolkata."

"They will be brought to Bengaluru and further information related to the case will be known after their interrogation," he said.

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News Network
April 23,2024

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The Karnataka government's decision to categorise the entire Muslim community as a backward caste for reservation purposes in the state has drawn criticism from the National Commission for Backward Classes (NCBC), which said such blanket categorisation undermines the principles of social justice.

According to the data submitted by the Karnataka Backward Classes Welfare Department, all castes and communities within the Muslim religion have been enlisted as socially and educationally backward classes under Category IIB in the State List of Backward Classes.

The NCBC, during a field visit last year, examined the state's reservation policy for OBCs in educational institutions and government jobs.

"All castes/communities of Muslim religion of Karnataka are being treated as socially and educationally backward classes of citizens and listed as Muslim Caste separately under Category IIB in the State List of Backward Classes for providing them reservation in admission into educational institutions and in appointments to posts and vacancies in the services of the State for the purpose of Articles 15(4) and 16(4) of the Constitution of India," the NCBC said in a statement on Monday night.

This categorisation has led to the provision of reservation benefits for 17 socially and educationally backward castes under Category I and 19 castes under Category II-A, respectively.

The NCBC said the blanket categorisation of Muslims as a backward caste undermines the principles of social justice, particularly for the marginalised Muslim castes and communities identified as socially and educationally backward.

However, the NCBC emphasised that while there are indeed underprivileged and historically marginalised sections within the Muslim community, treating the entire religion as backward overlooks the diversity and complexities within Muslim society.

"The religion-based reservation affects and works against ethics of social justice for categorically downtrodden Muslim castes/communities and identified socially and educationally backward Muslim castes/communities under Category-I (17 Muslim castes) and Category II-A (19 Muslim castes) of State List of Backward Classes. Hence, socially and educationally backward castes/communities cannot be treated at par with an entire religion," the NCBC stated.

The NCBC also voiced concern over the impact of such reservations on the overall framework of social justice, particularly in the context of local body polls.

While Karnataka provides 32 per cent reservation to backward classes in local body elections, including Muslims, the Commission stressed the need for a nuanced approach that accounts for the diversity within these communities.

According to the 2011 Census, Muslims constitute 12.92 per cent of the population in Karnataka.

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coastaldigest.com news network
April 10,2024

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Mangaluru, Apr 10: Hundreds of thousands of Muslims in the coastal city of Mangaluru and other parts of coastal Karnataka today observed Eid-ul-Fitr, marking the end of 29-day-long blessed month of Ramadan. 

The occasion falls on the first day of the 10th lunar calendar month of Shawwal, the start of which varies based on the sighting of the new moon.

Braving the scorching sun, Muslim men and children - and in some parts women too - thronged Eidgahs and mosques to express gratitude to their Creator by offering Eid prayers after distributing Zakat and Fitr among the poor and needy.

While praying for the acceptance of their month-long fasting and charity among other deeds, the imams also prayed for the acceptance of sacrifices of people of Gaza wherein Israel regime’s bloody war claimed thousands of lives including children and women in past six months.

Twaqa Ahmed Musliyar, the Qadhi of Mangaluru, led the Eid prayers and delivered the sermon at the historic Eidgah mosque at Lighthouse Hill. “We have fasted for a month to comply with the command of the Almighty. Let us also lead a pious life in the remaining 11 months of the year,” he said.

He exchanged Eid greetings with the devotees and called upon them to remember the lesser privileged people and needy during the festivities. “We have a social responsibility towards the poor and needy. As long as we attend to their problems, God's blessings will continue to shower upon us,” he said.

Karnataka Legislative Assembly Speaker U T Khader and several people’s representatives offered prayers at Eidgah mosque. Volunteers from Zeeanth Bhaksh masjid helped the police in maintaining traffic and discipline.

Children dressed in festival attire added colour to the celebrations. People wished Eid Mubarak and hugged each other.

The Eid prayers were held in all prominent mosques across the city. Taqwa Masjid in Pumpwell, Masjidunnoor in Hampankatta, Ihasan Masjid near Unity Hospital, Bolar Islamic Centre in Bolar, Ibrahim Khaleel Masjid near State Bank, Jamia Masjid in Kudroli and Kachi Memon Masjid in Bunder were overcrowded with devotees. Several thousand devotees offered prayers at Central Juma Masjid in Ullal on the outskirts of the city.

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