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

[email protected] (Agencies)
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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coastaldigest.com news network
July 8,2020

Manjeshwar, Jul 8: Manjeshwar police arrested a man with 10 Kg of Ganja while fleeing away from a checkpoint at Battippadavu last night.

The police said on Wednesday that since the vehicle did not stop they had to chase it and after going some distance the driver lost control over the steering and it met with an accident.

The police immediately arrested the accused and the ganja was found concealed in a gunny bag.

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coastaldigest.com news network
June 9,2020

Bengaluru, Jun 9: The total number of positive COVID-19 cases in Karnataka rose to 5,921 on Tuesday after the state reported two deaths and 161 new cases of the virus.

"Two deaths and 161 new COVID-19 positive cases reported from yesterday 5 pm till today at 5 pm, taking the total number of positive cases to 5,921," said Karnataka Health Department.

The toll in the state is presently at 66.

While 164 patients have been discharged today, the number of discharged patients so far is 2,605. The active cases in the state stands at 3,248.

Among the new cases, Yadgir contributed highest (61), followed by Bengaluru Urban (29) and Dakshina Kannada (23). Udupi did not report any new case. More details to follow.

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News Network
April 13,2020

Bengaluru, Apr 13: Karnataka Chief Minister BS Yediyurappa today held a review meeting with his cabinet colleagues and senior officials regarding prevailing coronavirus situation and several other important issues in the state.

Chief Secretary TM Vijay Bhaskar was also present at the meeting. The possible situation once the COVID-19 lockdown is lifted was discussed along with the financial status of the state government and how to mobilise additional resources, sources said.

The Chief Minister also appealed to sugar factory owners to clear the pending payment to the tune of Rs 2834 crore to farmers in 11 districts. He also said that the government has released Rs 45 crore compensation to farmers for loss of paddy crop in Raichur and Koppal District due to hailstorm based on a report submitted by District Collectors.

Amid the lockdown distribution of free milk to the poor will also be continued for one more week, sources added.

The meeting also decided to speed up disposal of cases related to the regularisation of unauthorised constructions which are pending before the High Court and Supreme Court.

In addition to this, the government is planning to auction more than 12,000 corner sites lying idle in Bengaluru. An amendment to the law governing permission to allow sites in private and co-operative housing societies will be made. Hundreds of societies are waiting for approval from the government for releasing the sites, sources said.

It was also decided to utilise Rs 1,000 crore available at Rajiv Gandhi Health University to upgrade medical college hospitals.

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