Indian billionaires' wealth up 12-fold, can wipe out country's poverty: IMF

Warning against the widening income disparities in many countries, the International Monetary Fund has turned the spotlight on India, stating that the wealth of the country’s billionaire community has shot up by an astounding 12-fold in just a matter of 15 years. IMF Managing Director Christine Lagarde indeed believes that the net worth of the Indian billionaires is large enough to eliminate the country’s absolute poverty twice over.

Read Full Story>>