Now the rich have shrunk

Mumbai:

The richest in the country

Carvy Wealth Management

The company’s study said.

The number of the richest people in the country declined to 2.56 lakh last year. In the previous year, their number stood at 2.63 lakh.

Increase:

The report further stated that, in the first place, the surplus amount of over 7 crore rupees is referred to as the richest. Accordingly, their number has dropped to 2.56 lakh. In the previous year, the number of the richest people increased to 2.63 lakh.

However, the value of this 2.63 lakh richest person has risen to Rs 430 lakh crore in 2018. This is down from Rs 392 lakh crore in 2017. In the last quarter of 2018, their asset growth slowed to 9.62%. This is up from 13.45 per cent in the previous year.

Investment:

Moreover, the assets of the richest 262 trillion crores as financial assets and the rest as real estate and commodities are at 60:40. Most of the assets invested in the financial sector are made in direct equity. 52 lakh crore in equity investments. However, the growth rate is 6.39 per cent in 2018. This is up from 30.32 per cent in 2017.

45 lakh crore has been invested in fixed deposits and securities. Its growth is 8.85%. The growth in the segment was 4.86 per cent in the previous year. Subsequently, much investment has been made in insurance. Investments in insurance programs amounting to Rs 36 lakh crore have been made. Of the bank deposits, about Rs 34 lakh crore has been made in 2018. Other than the financial market investments, investments in gold are the number one investment. Investments worth nearly Rs 80 lakh crore have been made in gold during the valuation period.

Development:

Next, the real estate sector has invested Rs 74 lakh crore. Asset growth, however, declined to 7.13%. In the financial market, personal property growth is projected to grow by 13.19 per cent year-on-year to Rs 798 lakh crore in the financial year to 2024,

according to the report.