India Rising: Rural India has more Crorepati(10 millionaires) density than Urban India; Kolkata beats Bangalore & Hyderabad put togetherBy Angsuman Chakraborty, Gaea News Network
Wednesday, September 14, 2005
According to NCAER survey Delhi and Mumbai continue to be the major centres of wealth in India, accounting for half of the roughly 20,000 crorepati (owner of 10 million Rs. or more) households in India.
Kolkata, often thought as a has-been city, has more crorepati households than Bangalore and Hyderabad put together. 180 households of every million households in Kolkata are crorepati compared with 113 for every million in Bangalore.
Rajesh Shukla, senior fellow at NCAER, says the biggest myth the survey shatters is that the country’s wealth resides in cities. Rural India has a larger crorepati density than urban India.
In Haryana, for instance, the number of rural households with annual incomes above Rs 1 crore is more than the number of crorepati urban homes. In fact, with 482 crorepatis, rural Haryana beats Bangalore, which has only 137 crorepatis. In Punjab there are almost as many crorepatis in the villages and small towns (those with less than 5 lakh population) than in the bigger cities.
350 of every million households in small towns have a Rs 1-crore-plus annual income, considerably higher than the proportion in metros like Kolkata, Bangalore and Hyderabad.
This is a sure sign of India rising (again). Rural India controls the fate of this country. Unless the poor, the down-trodden are brought on equal footing with the rest, this country cannot rise. They are the heart and soul of India. No amount of cyber-riches can remedy that.