Page 36 - Development Update News Today : Breaking News, Live Updates & Top Stories | Vimarsana

India's Covid-19 paradox: Mukesh Ambani, stock market and poverty Quartz 18/01/2021 © Provided by Quartz A view of a slum is seen along a seashore in Mumbai “The pandemic has reinforced some of the most latent inequalities in India, both socially and economically,” says Jayati Ghosh, professor of economics at the University of Massachusetts Amherst. And to map this inequality, she says, one need only look at who has gained. In 2020, the cumulative wealth of 828 Indians on the Hurun India Rich List stood at $821 billion (Rs60.15 lakh crore), up by $140 billion from a year ago. A large...

January 18, 2021 “The pandemic has reinforced some of the most latent inequalities in India, both socially and economically,” says Jayati Ghosh, professor of economics at the University of Massachusetts Amherst. And to map this inequality, she says, one need only look at who has gained. In 2020, the cumulative wealth of 828 Indians on the Hurun India Rich List stood at $821 billion (Rs60.15 lakh crore), up by $140 billion from a year ago. A large part of this increase was thanks to one man and one company—Mukesh Ambani’s Reliance Industries (RIL). Ambani’s RIL raised $26.4 billion i...

The World Bank has predicted that the effects of COVID-19 pandemic could see further drastic deterioration in the standards of living of Nigerians and