4,000 millionaires left India in 2015'

[email protected] (CD Network)
March 30, 2016

New Delhi, Mar 30: India has seen the fourth biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas, says a report.

lifeAccording to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country.

The report however noted that the migration of super rich from China and India is not a "concern".

"The outflows from India and China are not particularly concerning as these countries are still producing far more new millionaires than they are losing," the report said and added that "once the standard of living in these countries improves, we expect several wealthy people to move back".

In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood at 6,000.

On France, the report said, the country is being heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas.

"We expect that millionaire migration away from France will accelerate over the next decade as these tensions escalate," the report said.

It further noted that other European countries where religious tensions are starting to emerge such as Belgium, Germany, Sweden and the UK will also be negatively affected in the near future.

Other countries that saw significant millionaire outflows include Greece (3,000), while Russian Federation, Spain and Brazil saw 2,000 such outflows each.

In terms of millionaire inflows, Australia topped the chart as it saw as many as 8,000 uber rich people shifting base there, followed by the US(7,000) and Canada (5,000) in the second and third place respectively.

Millionaires, otherwise known as 'high net worth individuals' or 'HNWIs' refer to individuals with net assets of USD 1 million or more excluding their primary residences.

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Wednesday, 30 Mar 2016

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News Network
January 1,2020

Kalaburagi, Jan 1: Fighting penury and partial blindness in one eye, a 39-year-old part-time Kannada lecturer from Kalaburagi district is set to become a commercial tax officer after cracking the Karnataka Administrative Services.

Ambadas Kamble, from Kotana Hipparaga village in Aland taluk, had to take a three-year gap during his school and college years - one-year break after completing Class VII and two years to clear subjects after he failed in II PU examinations. During those three years, he joined his brothers in masonry work to supplement the family's income.

Sweeping aside all hurdles with grit and determination, Ambadas studied Kannada literature for both undergraduate and postgraduate to land the post of a part-time lecturer in a Kalaburagi college. His father died when he was a child, and mother Chandamma supported her family of six - besides, Ambadas, she has two sons and two daughters - by working in houses in the neighbourhood.

Ambadas said he would like to dedicate his success to his mother, who died in the year 2012. "My mother encouraged me to chase my dream - financial difficulties notwithstanding - and allowed me to spend time in the library when my siblings were busy doing menial jobs to fund my education. I'm grateful to my brothers too," he said.

His two brothers are working as masons in Mumbai, having quit studies midway and deciding to support Ambadas - the first in the family to complete graduation. He did high school at Tadkal village in Aland taluk, and college in Kalaburagi.

The lecturer, who's 40% blind in the right eye, cracked the KAS examinations in his third attempt and stood 706th in the state. He has been selected for first-grade officer's post. Alongside, he's doing PhD in Kannada literature.

When his efforts finally paid off, Ambadas landed four job offers: Hostel warden at Morarji Desai hostel, at an SC/ST hostel, post of a lecturer and the tax officer's post. He picked the fourth to serve the state in right earnest.

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News Network
January 14,2020

Udupi, Jan 14: The Udupi district police on Tuesday arrested two suspected terrorists at the Indrali railway station in Udupi.

The two, who had reportedly arrived from Kerala at around 6 ap.m., were standing at the Indrali railway station platform.

Suspicious of their behaviour, the police took them to custody and subjected them to interrogation.

According to reports the duo had involved in the murder of Tamil Nadu police Special Sub-Inspector Wilson.

However, top cop of the district has refused to comment regarding the arrest of the youths.

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News Network
July 14,2020

Bengaluru, July 14: Ahead of the week-long lockdown in Bengaluru starting from Tuesday night, around 35,000 people have left the city and grocery stores and liquor shops are witnessing a rush with customers thronging to stock up on for the shutdown.

According to transport department officials, labourers from other parts of the state migrated in good numbers from Bengaluru ahead of the lockdown fearing that they would have to face similar challenges as they had to confront during the previous shuttering. 

"Yesterday 35,000 passengers left Bengaluru. The number is big given the fact that we are allowing a limited number of passengers in the buses to maintain social distancing," a KSRTC official said.

Tipplers made a beeline for liquor shops and a senior State Excise official said liquor worth Rs 230 crore was sold on Monday alone.

"There was apparently a mad rush yesterday.India Made Foreign Liquor worth Rs 215.55 crore and 14.83 crore worth beer was sold...," the officer said.

In view of the rising coronavirus cases in the city at an alarming proportion, the government decided to impose lockdown from Tuesday 8 pm till 5 am on July 22.

Later, Dharwad and Dakshina Kannada districts too decided to impose a lockdown for nine days and seven days respectively from Wednesday.

"For the past two days there is an unusual rush of customers in our store," an executive of the Metro Cash and Carry said.

According to him, people are buying grocery items and vegetables with long shelf life such as onion, potato, radish, carrot and beetroot.

A salesperson at the Star Bazaar too said people were thronging the store for the past two to three days.

During the Sunday curfew, Home Minister Basavaraj Bommai said the week-long lockdown will be stringent one and government has made all arrangements to address all concerns ahead of the shutdown.

As many as 19,702 people in Bengaluru have tested positive, of which there are 15,052 active cases, while 4,328 have been discharged.

The number of fatalities as of Monday is 321.

Across Karnataka, 41,581 people have tested positive for coronavirus including 24,572 active cases, 16,248 discharges and 757 deaths since the outbreak of the pandemic in the state.
 

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