Richest 1% own 58% of total wealth in India: Oxfam
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Richest 1% own 58% of total wealth in India: Oxfam

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In signs of rising income inequality, India's richest 1% now hold a huge 58% of the country's total wealth -- higher than the global figure of about 50%, a new study showed on Monday. The study, released by rights group Oxfam ahead of the World Economic Forum (WEF) annual meeting in Davos attended by rich and powerful from across the world, showed that just 57 billionaires in India now have same wealth ($216 billion) as that of the bottom 70% population of the country.

Globally, just 8 billionaires have the same amount of wealth as the poorest 50% of the world population.

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