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.

mumbvaiAccording 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
February 10,2020

Belagavi, Feb 10: In comments that raised eyebrows, Ramesh Jarkiholi, who quit the Congress and joined the BJP and who took oath as minister last week, said his brother Satish has a bright future. The two siblings have rarely seen eye-to-eye — at least in public — in recent times.

He also trained his gun on Congress leader DK Shivakumar, sarcastically thanking the Congress MLA for his meteoric rise. “Had Shivakumar not stood against me, I would not have emerged as a tall leader in the state. I must thank him,” Ramesh said.

The Gokak MLA said Satish of the Congress, the most politically-savvy of the five Jarkiholi siblings, would reach “the top” in his political career. However, he advised him “to inculcate patience and adopt strategies”. “He should make his moves at the right time as timing is very important in politics,” Ramesh said.

He also urged Satish to keep his supporters happy. “Many of his followers are disappointed with his leadership because he does not extend a helping hand to his own people. In the present political climate, people do not endorse a leader who only talks about Buddha and Basava,” Ramesh said.

Ramesh took a dig at Lakan, the youngest sibling, saying, “Lakan speaks ill about me most of the time. He does not understand much. But we brothers are one when it comes to family. We are united when it comes to family matters, but when it comes to politics, we are at loggerheads.”

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News Network
April 19,2020

Bengaluru, Apr 19: A recent government order prohibiting congregations, Ramadan prayers is discriminatory and needs to be withdrawn, JD(S) MLC B M Farookh has demanded.

In a letter to the chief secretary, Farookh pointed out that the order contained certain conditions such as restriction of the use of public address system and delivering Azan in low decibels, which had nothing to do with the prevention of Covid-19 disease.

“These days, Azan includes a call for the community to pray at home and does not offer namaz at mosque. The order also prohibits preparation and distribution of porridge, which has always been taken up in the interest of the poor. The High Court has noted that the relief distribution by NGOs or individuals should not be prevented and the state machinery has to coordinate the same by ensuring social distancing. The ban on distribution of porridge by mosques amounts to discrimination. The order needs to be withdrawn or revisited,” he wrote in his letter.

Further, observing that a religious fair was conducted in Kalaburagi recently, in violation of the government’s social distancing norms, Farookh sought the government to ensure that social distancing norms are enforced with regard to festivals of all communities without discrimination.

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News Network
May 12,2020

Bengaluru, May 12: Former chief minister and senior Congress leader Siddaramaiah on Tuesday said that the Central and Karnataka government have failed in containing the coronavirus spread despite having enough time for preparations.

"Central and state government failed in properly controlling COVID-19. The first coronavirus case was reported in Kerala on January 30. Lockdown was imposed on March 24. Both Centre and state had enough time for preparations," Siddaramaiah said in a press meet here.

He said that the Central government did not stop the airline services on time.

"Karnataka government might have been able to stop COVID-19 properly. However, both the state and central government are playing politics over the issue and blaming Tablighi Jamaat for the spread, which is a political strategy painted by the RSS," Siddaramaiah said.

"Who gave the licence to Tablighi's international convention? Who gave them permission in Delhi? They didn't control it. Central government is directly responsible for the increasing numbers of COVID-19 cases in India," he added.

Siddaramaiah said that the lockdown was imposed without any preparation, which he said caused huge problems for the migrant workers across the country.

"Now, the government is collecting ticket fare and looting migrant workers. They don't have jobs or food, they don't have money, and they earn every day to survive. How will they pay for the tickets? Why the government is not arranging for free trains?" the Congress leader said.

He said that around Rs 35,000 crore have been credited to PM CARES fund, Rs 3,000 crore of which was credited from Karnataka alone. "Why are they not using that money?" he asked.

Siddaramaiah said that the party is demanding for the Centre to arrange for migrant workers to return to their native places across the country free of cost.

"We asked Chief Minister to call an all party meeting. We gave many suggestions, which this government did not consider. We also took a delegation and gave a memorandum about farmers, daily wage workers, road side vendors, barbers, problems faced by the unorganized sector. But this government didn't consider any of it," he said.

Questioning the Central government's suggestion to States to amend their Agricultural Produce Market Committee (APMC) Acts, Siddaramaiah said that the move is against the federal system of the country and claimed that it harms the interests of small scale farmers.

He said that the BJP-led state government has also decided to postpone the Gram panchayat elections in the state and is trying to nominate their party workers for village panchayat elections.

"The Government must continue with the present members of the Gram panchayat. If BJP tries to nominate their party members to village panchayats, we will take to streets to protest despite the lockdown," Siddaramaiah added.

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