2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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According to Oxfam, what percentage of India’s total wealth is now owned by the richest 1%?
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20%
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30%
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40%
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15%
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Explanation:
Detailed explanation-1: -India’s top 1% owned more than 40.5% of its total wealth in 2021, according to a new report by Oxfam.
Detailed explanation-2: -A new wealth report seems to have the answer. Global real estate agency Knight Frank said in its new wealth report that in India, the individual wealth required to reach the 1 per cent threshold in India is $175, 000, which translates roughly to Rs 1.44 crore.
Detailed explanation-3: -Currently, India contributes 8 per cent of the total global billionaire population compared to 4.9 per cent five years ago. The list showed that 70 per cent of the billionaires are self-made, meanwhile, 30 per cent come under the inherited category.
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