Entrepreneur Jaithirth Rao's recent attack on Oxfam report on inequality ignores the fact that only the rich are getting richer in this beleaguered Indian economy.
Musk, now one of four centibillionaires in the world, has seen his fortune grow by $73.6 billion this year, a jump still smaller than Bezos’s, who is up by $87.1 billion.
If wealth of half of world’s people really fell by 11% in one year, it would signal coming of an enormous global recession. But 2018 growth numbers look healthy.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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