The figures tell the true story.
The rich grow richer
The big
capitalists have increased their assets phenomenally.
The assets of the Tata
group in 1990 were Rs. 10, 922 crores and by 2012-13 had increased to Rs. 583,554 crores rupees
(source: Tata group website). Over the same period the assets of the Reliance
Group of the Ambanis
increased from Rs. 3167 crores to over 500,000 crores (Reliance Industries and
its subsidiaries alone had consolidated assets of Rs. 3,62,357 crores and
Reliance ADAG over Rs. 180,000 crores (sources
are their group websites)
Between 1991 and
2012, while the economy’s total fixed capital stock increased by 4 times that
of the private corporate sector increased 9 times (Source CSO, National
Accounts Statistics).
As an indicator
of the rising share of private corporate profits, the ratio of private corporate
savings or retained earnings of private companies to GDP, which had remained
below 2 per cent for practically the entire period between independence and
1991, rose to 9.4 per cent by 2007-08 and still is about 8 per cent.
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