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    India's Millionaire population crosses 100,000 mark

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    India's Millionaire population crosses 100,000 mark
    Posted June 28th, 2007 by Indian-MuslimIndia News NEW DELHI, June 28 (NNN-PTI) Riding high on strong economic growth and robust gains in stock markets, the number of millionaires in India has crossed 100,000 mark -- emerging as the world's second fastest growing nation after Singapore.

    The number of high net worth individuals (HNWI), with a net asset of atleast one million dollar, increased by 20.5 per cent to 1,00,015 in India last year, second only after 21.2 per cent growth in Singapore, according to the World Wealth Report released by Merrill Lynch and Cap Gemini today.

    Besides India, countries like Australia, Brazil, Canada, China, Germany, Russia, UK and the US also have more than 100,000 people with at least one million dollars in net assets, excluding their primary residence and consumables.

    The number of Indian millionaires stood at about 83,000 in 2005.

    The worldwide population of HNWIs increased by 8.3 per cent to 9.5 million, while their collective wealth rose by 11.4 per cent to 37.2 trillion dollars in 2006, it says.

    While attributing the wealth generation to gains in GDP and continued market capitalisation growth across the world, Merrill Lynch and Capgemini predicted the overall HNWI financial wealth to grow to 51.6 trillion dollars by 2011 at an annual rate of 6.8 per cent.

    Driven by strong gains in countries like India, Singapore and China, the HNWIs' combined wealth in Asia increased by 10.5 per cent to 8.4 trillion dollars.

    "Asia was also home to some of the fastest growing markets in terms of HNWI population, occupying five out of the top 10 spots globally," the report said.

    http://indianmuslims.info/news/2007/..._000_mark.html

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    Re: India's Millionaire population crosses 100,000 mark

    If India have become too much rich than why Suicide

    Around 11,500 farmers have committed suicide in
    different parts of India in the last six years, most of them due to their inability to pay debts, says a new study that indicates that the problem is bigger than what has been reported so far.
    The study, carried out by a conglomerate of voluntary groups called the National Social Watch Coalition (NCWC), says that at least 11,387 farmers have committed suicide between 2001 and 2006. The situation has gone from bad to worse in several States, the report points out.
    According to the ‘‘Citizen’s Report on Governance and Development — 2007’’, over 5,980 farmers from the southern Indian State of Karnataka have committed suicide and more than 2,410 farmers ended their lives in Andhra Pradesh since 2001.
    In Karnataka, 2,505 farmers committed suicide in 2001-02 alone. In Andhra Pradesh, 1,126 farmers ended their lives in 2004. In the last five years, at least 2,280 farmers have committed suicide in Maharashtra. In 2001, the State reported 50 cases of farmer suicides. The figure went up to 122 in 2002 and 170 in 2003 before jumping to 620 in 2004. There was a slight dip in 2005 with 572 farmers ending their lives, but it rose sharply to 746 in 2006.
    ‘‘Interestingly, the Prime Minister’s visit along with the Agriculture Minister to the Vidarbha region of Maharashtra on June 30, 2006 was followed by an increase in the number of suicides in the region. Over 150 suicides occurred between July 2 and August 21,’’ the report says. Atul Sood, the co-author of the report, said: ‘‘We are not sensitive to the problem of farmers in our villages. I think the government’s apathy towards millions of farmers in the country is leading to suicide in our country.’’
    ‘‘They take loans to complete their crop cycle but when it comes to procuring the food grains, neither the Central Government nor the State Government shows any interest. This attitude forces them to stay indebted and commit suicide,’’ Sood, an associate professor at the Centre for the Study of Regional Development at Jawaharlal Nehru University (JNU) here, told IANS.
    Among other States, Kerala has witnessed 506 cases of farmer suicides since 2001, while Punjab has reported 179, Gujarat 24 and Orissa eight. The report further reveals that 434,242 farmer households in the country are in debt, including a whopping 69,199 in West Bengal and 49,493 in Andhra Pradesh.
    Maharashtra is home to over 36,000 indebted farmers, Madhya Pradesh 32,110, Tamil Nadu 29,000, Rajasthan 27,828, Karnataka nearly 25,000, Bihar 23,330, Orissa 20,250, Kerala 14,126 and Haryana over 10,000.
    Arunachal Pradesh is at the bottom of the list with 72 households in debt, while Meghalaya has 103 indebted farmers and Mizoram 184.
    ‘‘Crop failure and drought may have been often quoted as the reason behind the extreme steps by the farmers but our field survey and data available with the government itself suggest that the leading cause of farmers’ suicide is indebtedness,’’ said Jagadananda, a co-convenor of NCWC. (IANS)


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