India Fact Book

Social research blog on people, poverty, government, economy, social conflcits, military, terrorism and human rights issues

Economy under the siege of Elite Hindus

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In India, wealth of 36 families amounts to $ 191 billion, which is one-fourth of India’s GDP. In other words, 35 elite Hindu families own quarter of India’s GDP by leaving 85 % ordinary Hindus as poor!

The dominant group of Hindu nationalists come from the three upper castes ( Brahmins, Kshatriyas, and Vaishyas ) that constitute only 10 per cent of the total Indian population. But, they claim perhaps 80 % of the jobs in the new economy, in sectors such as software, biotechnology, and hotel management.

India is also one of the most under-banked major markets in the world with only 6 bank branches per 1,000 sq kms, according to the World Bank, and less than 31% of the population has access to a bank account.  According to India’s national agency,  (NABARD), around 60 per cent people are not having access to financial institutions in India. This figure is less than 15 per cent in developed countries.

Written by Cyber Gandhi

November 1, 2009 at 5:47 am

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