Wealth
of India ?
DNA
( 01 June 2016 ) carries a news snippet titled :
"
India , a wealthy country but Indians quite poor : Survey "
It
quotes figures of " Total Individual wealth-2015 " of top ten
countries
as
follows :
-------------------------------------------------------------------------------------
Country
/ Total Individual Wealth ( $ Billion ) / Population ( Million ) /
Per Capita Wealth ( $ )
-------------------------------------------------------------------------------------
#
USA /
48,700 / 322 / 151,242
#
China / 17,300
/ 1360 / 12,700
#
Japan / 15,200
/ 126 / 120,634
#
Germany / 9400
/ 82 /
114,634
#
UK /
9200 / 64
/ 143,750
#
France / 7600
/ 64
/ 118,750
#
India / 5200
/ 1290
/ 4,031
#
Italy /
5000 / 61
/ 81,967
#
Canada / 4800
/ 35 /
137,142
#
Australia / 4500 /
23 / 195,652
-------------------------------------------------------------------------------------
Seeing
India's rank at 7th place , I got elated - just for a moment !
Then
wondered :
"
What would be our rank , if we were to figure out PER CAPITA wealth of these
countries ? "
That
made me add in above table , last 2 columns ( to the DNA figures )
This
threw up following surprises :
*
We would move down to the bottom of the heap on PER CAPITA basis !
*
In terms of PER CAPITA wealth , Australia moves up from bottom to TOP !
*
Australia's PER CAPITA wealth would be 48.5 times our per capita wealth !
That reminded me that
, the Supreme Court appointed Special Investigation Team on black money has
asked the Directorate of Revenue Intelligence (DRI) to verify whether USD 505
billion had flown out of the country during 2004-13, when Congress-led UPA was
in power.
Now , assuming that this
figure is true and that NDA government succeeds ( don't ask for a target date !
) in bringing back , ALL of these USD 505,000 million , how much would
our PER CAPITA wealth go up ?
505,000 Million / 1290
Million = $ 391 ( approx Rs 27,000 / - only )
In the meantime ,
following news appeared yesterday :
India's
black money economy is estimated to be over Rs 30 lakh crore or about 20% of
total GDP, a number that a new study says has been contracting gradually
- still bigger than the overall economic size of countries like Thailand and
Argentina.
So
the BLACK MONEY generation works out to approx Rs 23,256 / - PER PERSON PER
YEAR !
Year
after Year !
QUESTION
:
Should
we be spending time on trying to bring back those Rs 27,000 per person ,
stashed abroad ( a ONETIME BENEFIT , if it ever materializes ! ),
OR
Find
a way to eliminate the generation of Rs 23,256 / - worth of BLACK MONEY per
person, YEAR AFTER YEAR ?
ANSWER
:
As
repeatedly requested by me , let us focus on future by
#
Replacing existing paper Currency Notes of Rs 500 / 1000 , by PLASTIC currency
notes , each embedded with RFID micro-sensors ( no need for demonetization )
#
Assigning each NEW note with a UNIQUE, IP V 6.0 web address , linked to Serial
Number of each note ( in " Internet of Things - IoT " mode )
#
Launch of mobile app " BLACK-MAIL ", for exclusive use of IT
/ ED etc, to track
accumulation of ( say ) , Rs ONE crore worth of notes in any ONE sq meter area
!
#
Generate automatically / dynamically , CURRENCY
MAPS of INDIA , to track
money ( read my earlier blog for details )
I leave
it to the Economists and Experts to figure out the amount by which our GDP will
go up due to this SIMPLE INTERVENTION , which does not require passing of any
law !
---------------------------------------------------------------------------------------------------------------------
08
June 2016
www.hemenparekh.in / blogs
hemen
parekh
Marol
, Mumbai , India
(
M ) +91 - 98,67,55,08,08
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