Business

What is happening in this era of urbanization? The average wealth of the rich is 1.5 crores, while the status of the poor is only Rs 2000.

What is happening in this era of urbanization? The average wealth of the rich is 1.5 crores, while the status of the poor is only Rs 2000.

According to the NSO report, the average property of the top-10 per cent households in cities is Rs 1.5 crore, while the average asset of the lower class is just Rs 2000. In rural India this gap between rich and poor is less.

The gap between the poor and the rich is increasing continuously in the cities.

The gap between the rich and the poor is getting deeper in the cities of the country. According to a government survey, the top 10 per cent of urban households in the country have an average asset of Rs 1.5 crore, while the lower class households have an average of only Rs 2,000. The survey conducted by the government shows that the financial gap between the poor and the rich in cities is continuously increasing.

According to the All India Credit and Investment Survey-2019 conducted by the National Statistical Office (NSO) under the Ministry of Statistics and Program Implementation, the situation in rural areas is slightly better than in cities. The top 10 per cent households in rural areas have an average property of Rs 81.17 lakh. The same lower class has assets of only 41 thousand rupees on an average. The survey said that the condition of poor households is better in rural areas than in cities. The average property size of lower class homes in cities is just Rs 2,000.

The All India Credit and Investment Survey has been conducted under the 77th round of the National Sample Survey (NSS). The survey was conducted between January-December, 2019. Earlier it was done as 70th round in 2013, 59th round as 2003 and 26th round in 1971-72. The main objective of this credit and investment survey was to collect basic quantitative information on the assets and liabilities of households as on June 30, 2018. The survey was conducted among 69,455 households in 5,940 villages in rural areas and 47,006 households in 3,995 blocks in urban areas.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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