Billionaires do not indicate wealth.

A report titled ' The Wealth Report of 2014 ' by Real Estate Consultants, Knight Frank says that for every billionaire in India there are just 26 Ultra High Net Worth Individuals or UHNI who would probably be just dollar millionaires. In China there are 44 UHNI per billionaire, in Malaysia it is 37, for Asia it is 84 while the ratio for the world is 100 UHNI per billionaire. The ratio for Japan is a whopping 609 UHNI per billionaire while for Brazil it is 129 and even South Africa has 119 UHNI per billionaire. The number of billionaires in India has risen from 23 in 2003 to 60 in 2013, during the tenure of this Congress led government. It is instructive that the report is by real estate consultants because most of the growth in the economy in the last 10 years has been due to the phenomenal rise in the prices of land and properties. Investment in gold has grown by 3.3% per year in the last 30 years and investment in shares has grown by 8.45% per year. That means that Rs 300,000 invested in gold in 1984 would have grown to around Rs 1.2 million today and if invested in shares would be around Rs 5 million today. But if Rs 300,000 was invested in a property in Delhi it would be a mind blowing Rs 30 million today, a growth of 10,000% overall. The rise in the price of land has been due to an explosion in black money due to a massive rise in corruption as the CWG scam, the 2G scam, the Coalgate scam and others have generated billions of rupees for the criminals. The low numbers of UHNI is because wealth has gone to those who were able to grab land and resources by exploiting their close relation with politicians. Isn't it ironic that while electricity rates in India have more than doubled and are still rising, because power generating companies complain of the high cost of imported coal, Indian companies are desperate to sell off mines in other countries because the falling price of coal has made them unprofitable. The price of thermal coal has dropped to a 3 year low while the cost of coking coal has dropped to a 6 year low. People have actually become poorer as double digit inflation has eroded wealth and profits have been hit as demand has fallen off. When profits fall tax collection falls with it. To somehow reduce deficit before elections the government has set targets for tax fellows who are probably resorting to strong arm tactics to force traders to pay more tax than they should. Large numbers of shops in south Delhi have remained closed in the last few days to avoid being forced to pay excess tax. If a few people grab all the resources others stay poor. That is what the report indicates.