1% Controls 60% of Total Wealth in India, Rich to Get Richer: Report

Only one per cent households control around 60% of the total wealth in India, indicating to the highlt concentrated nature of household wealth in the country. 1% Controls 60% of Total Wealth in India, Rich to Get Richer: Report - The Wire

According to a recent report by brokerage firm Bernstein, the super rich in India, estimated to be around three million households hold $2.7 trillion in liquid financial wealth, reported Business Standard.

“Although growth will continue to create opportunities across the pyramid, we think the rich will get richer. India’s uber-rich – an estimated nearly three million households – hold $2.7 trillion in liquid financial wealth, by our estimates,” observed Bernstein, reported Mint.

This rise of the uber-rich is also expected to increase the demand for professional wealth managers.

04/08/2025

 

ICJ on states’ responsibilities to halt climate change

ICJ delivers an unambiguous order on states’ responsibilities to halt climate change https://scroll.in/article/1084853/icj-delivers-an-unambiguous-order-on-states-responsibilities-to-halt-climate-change  Meena Menon  The United Nations’ judicial organ paved the way for states to be held accountable for fossil fuel emissions and the resultant climate harm. failure of states to take measures to reduce greenhouse gas emissions by continuing fossil fuel production, granting exploration licences or fossil fuel subsidies constituted an internationally wrongful act. States also have an obligation to regulate private actors as a matter of due diligence. in the event that restitution should prove to be materially impossible, responsible states have an obligation to compensate.  

the court held that it was scientifically possible to determine the emissions contribution of each state in both current and historical terms.... states were obliged to adhere to both customary and international laws as well the climate treaties: the United Nations Framework Convention on Climate Change, the Kyoto Protocol and the Paris Agreement and other United Nations conventions on biodiversity, desertification as well as human rights and the Law of the Sea.

Press Freedom Under Modi Worse Than During Emergency

On November 26, 1947, a little over three months after India’s independence, Mahatma Gandhi presciently cautioned that use of media by a ruling party for its own propaganda and image building would usher in dictatorship. He said this while dealing with a complaint that the Congress party was employing radio for broadcasting information about itself and its activities. “If the Congress uses the radio, etc., like this for its own propaganda, it is bound to bring about dictatorship in the end,” he warned.

https://thewire.in/media/press-freedom-under-modi-worse-than-during-emergency 

During the 11 years of Modi’s regime, there has been no official proclamation of emergency, yet the status of media is worse than during the Emergency period of 1975-77. The essence of Mahatma Gandhi’s warning – that if the ruling party used media for propaganda it would lead to dictatorship – is being played out more viciously during Modi’s tenure, with adverse consequences for democracy and the Constitution.

In the press freedom index, India occupies the 151st position among 180 countries. This low ranking has been accompanied by coercive measures against journalists, many arrested using draconian laws. A news platform like NewsClick has faced raids by agencies including the police and the enforcement directorate.

by S N Sahu

26/06/2025