What is "Ambani sickness"?
Ambani sickness is a term used to describe the phenomenon of Indian business tycoons amassing vast wealth while the majority of the population remains poor.
This is a growing concern in India, as the wealth gap between the rich and the poor continues to widen.
The term was coined by Arvind Subramanian, the former chief economic adviser to the Government of India. In his book, "Of Counsel: The Challenges of the Modi-Jaitley Economy", Subramanian argues that the concentration of wealth in the hands of a few individuals is a threat to India's economic and social development.
Ambani sickness
The key aspects of Ambani sickness are:
- The concentration of wealth in the hands of a few individuals
- The widening gap between the rich and the poor
- The lack of economic opportunity for the majority of Indians
The Concentration of Wealth in the Hands of a Few Individuals
The concentration of wealth in the hands of a few individuals is a major problem in India. According to the Forbes Billionaires List, the top 10 richest Indians have a combined wealth of over $500 billion. This is more than the GDP of many developing countries.
The Widening Gap Between the Rich and the Poor
The gap between the rich and the poor in India is also growing wider. According to the World Bank, the richest 10% of Indians own 57% of the country's wealth, while the poorest 50% own just 3%. This is one of the highest levels of inequality in the world.
The Lack of Economic Opportunity for the Majority of Indians
The lack of economic opportunity for the majority of Indians is a major challenge. The unemployment rate in India is over 10%, and many of those who are employed are working in low-paying jobs.
Ambani sickness is a serious problem that is threatening India's economic and social development. It is important to address this issue and find ways to create a more equitable society.
Frequently Asked Questions about Ambani Sickness
This section provides answers to frequently asked questions about Ambani sickness, a term used to describe the phenomenon of Indian business tycoons amassing vast wealth while the majority of the population remains poor.
Question 1: What is Ambani sickness?
Ambani sickness is a term coined by Arvind Subramanian, the former chief economic adviser to the Government of India, to describe the concentration of wealth in the hands of a few individuals, the widening gap between the rich and the poor, and the lack of economic opportunity for the majority of Indians.
Question 2: Why is Ambani sickness a problem?
Ambani sickness is a problem because it threatens India's economic and social development. The concentration of wealth in the hands of a few individuals can lead to crony capitalism, corruption, and inequality. The widening gap between the rich and the poor can lead to social unrest and instability. And the lack of economic opportunity for the majority of Indians can lead to poverty, unemployment, and despair.
Summary: Ambani sickness is a serious problem that needs to be addressed. It is important to find ways to create a more equitable society in India.
Conclusion on Ambani Sickness
Ambani sickness is a serious problem that threatens India's economic and social development. It is important to address this issue and find ways to create a more equitable society.
One way to address Ambani sickness is to reduce the concentration of wealth in the hands of a few individuals. This can be done by increasing taxes on the wealthy and by investing in public education and healthcare. Another way to address Ambani sickness is to create more economic opportunity for the majority of Indians. This can be done by investing in infrastructure, education, and job training.
It is important to remember that Ambani sickness is not a problem that can be solved overnight. It will take time and effort to create a more equitable society in India. However, it is important to start working on this issue now, before it becomes even more serious.
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