83,000 millionaires in a country of a billion may be a drop compared to the 27 lakh millionaires in a United States with a quarter of our population. Still the news that India now has more millionaires than ever before is certainly good news. That we have clocked the second highest rate of growth in the production of millionaires (19.3 per cent to South Korea's 21.3 per cent) is admirable if nor awe-inspiring.
Questions: Should we celebrate the presence of so many millionaires amongst us or should we mourn as the Left parties are wont to do? Is this a result of LPG—liberalisation, privatisation, globalisation—or some other force? Are only a certain kind of people getting rich or is it across the board? In a nation where nearly 400 million people survive on Rs 45 or less, are the rich getting richer, often at the expense of the poor? Are you better off than you were 10-15 years ago? Should the world stop calling us a poor country?
Must read: Michael Kinsley on Forbes' billionaires