Ultra High Net Worth Women

It is not a matter for joy that India has over 1,250 ultra high net worth women (UHNW) — those with net assets worth $30 million or above – with a combined fortune of $95 billion. While the number of women with high net worth has gone up and their net worth has gone up, nearly 30 million Indian women have witnessed decline in their net worth due to various reasons including inflation. Reports show that inequality in the country ha widened over the years. A greater part of the increase in output and income has gone to a small section of the population. The rich have become richer and the poor have become poorer.This has led to wealth being overly concentrated in a few hands, making the society unstable: “The problem is that, when a society's wealth becomes overly concentrated in a few hands, that society becomes increasingly unstable. Extreme poverty sits outside in the cold while extravagant wealth dances and drinks cocktails in a penthouse on the top floor. The flow is unsustainable, and it is the flow of wealth, like blood through veins, which keeps a society alive. This is why every economic system has developed some system for redistributing wealth - small groups use reciprocity, slightly larger groups use complex rituals and centralized priesthoods, even larger groups use governments and taxation. The point is to siphon wealth from those who have a lot of it and give it to those who have little, thus maintaining the flow of wealth and a degree of equality within the population.” A number of studies, based on the National Sample Survey (NSS) estimates of household consumption expenditure, have been conducted in the past decade or so to examine the trends in inequality in India.. Generally the studies point a rise inequality in India during the past two decades. Several others have also pointed out that though the richer sections of the population benefited in the post-liberalization period, there has been a stagnation of incomes for the majority in all the states, with the bottom rung of the population severely negatively affected by this process. Nonetheless inequality is bound to rise further because the opportunities opened up by liberalisation and globalisation have benefited only a small section of the population belonging to upper-middle and the richer sections, besides persons with political patronage and bureaucratic benefaction.