How rich are getting richer in India?

How rich are getting richer in India?

Their number has increased from only 9 in 2000 to 101 in 2017. Between 2018 and 2022, India is estimated to produce 70 new millionaires every day. Also, Billionaires’ fortunes increased by almost 10 times over a decade and their total wealth is higher than the entire Union budget of India for the fiscal year 2018–19….

Why is there a gap between rich and poor in India?

The coronavirus pandemic has dealt a huge blow to India’s middle and low-income groups. This is why India has one of the highest wealth gaps among all major economies in the world. Even after all these years, there has been no change in this trend as the rich tend to get richer and the poor, poorer.

Which is the best mutual fund in 2020?


Scheme name Percentage (%)
Axis Bluechip Fund – G 25
ICICI Prudential Bluechip Fund – G 15
Motilal Oswal Multicap 35 Fund – G 10
Aditya Birla Sun Life Regular Savings Fund -G 50

Which SIP is best for 10 years?

Large-Cap Schemes

Scheme Name 5-Year Monthly SIP 10-Year Monthly SIP
ICICI Pru Top 100 Fund (G) Rs.9,41,591 Rs./td>
Quantum LT Equity Fund (G) – Direct Plan Rs.9,15,695 Rs./td>
Reliance Growth Fund (G) Rs./td>

SBI BlueChip Fund – Reg (G) Rs.9,55,955 Rs./td>

Which mutual fund is best to invest?

Here is the list of top 10 schemes:

  • Axis Bluechip Fund.
  • Mirae Asset Large Cap Fund.
  • Parag Parikh Long Term Equity Fund.
  • Kotak Standard Multicap Fund.
  • Axis Midcap Fund.
  • DSP Midcap Fund.
  • Axis Small Cap Fund.
  • SBI Small Cap Fund.

Is mutual funds better than stocks?

A mutual fund offers more diversification by bundling many company stocks into one investment. Stock should make up the bulk of most portfolios geared toward a long-term goal like retirement. But that doesn’t mean you have to buy and trade individual stocks — you can also gain that exposure through equity mutual funds.

How can I earn 50 lakhs in 15 years?

My suggestion to you would be to direct the money into a nifty index fund like HDFC Index Fund Nifty 50 Plan and Mirae Asset Large Cap Fund. At an expected return of 12 per cent per annum, your monthly investment of Rs 10,000 would help you to create Rs 50 lakh, not accounting for income tax, in 15 years….

Which SIP gives highest return?

Best SIP Plans for the Year 2021

Fund Name Monthly Investment 5 years Return
HDFC Balance Advantage Fund 5000 15.5%
ICICI Prudential Bluechip Fund 5000 10.81%
Kotak Standard Multicap Fund 5000 13.24%
Motilal Oswal Focused 25 Fund 5000 12.82%

Which is best time to invest in mutual funds?

If we look at April or May 2020, then now- November and December 2020, these months are definitely better. We are quite hopeful and we are also seeing more maturity in the market.”…

Is 80 lakhs a good salary in India?

Almost all of the multinationals have employees with salaries more than 80 lakh. Sales jobs have quite a lot of incentives (performance based). Also geaduating from Ivy leagues or the IIM (A, B, C) have salaries crossing 24 lakhs with a hundred percent incentive. A couple of years down the line, you’d cross 80 lakh.

What are the top 10 mutual funds?

Here is Conrad and Shilling’s top 10 list, in reverse order, with the associated five-year returns:

  • Vanguard 500 Index Fund: 15.01%
  • American Funds Fundamental Investors Fund: 15.03%
  • Fidelity 500 Index Fund: 15.07%
  • American Funds Growth Fund of America: 16.15%
  • Fidelity Contrafund: 16.85%

Will mutual funds make you rich?

Investing in the equity mutual funds via SIP over a long period will help you earn decent returns and may make you rich but not as much as directly investing in stocks.

Who is considered rich in India?

Despite that, in a developed world economy, you are considered as a member of the richest 1% club with an income ranging between USD 200,000 – 300,000. In India, the richest populous comprises (very) wealthy business owners and their offspring, actors, cricketers, erstwhile royalty and blessed legacy wealth receivers….

What is bad about mutual funds?

Mutual funds have also suffered because of quick-money schemes and chit funds, which promised high returns but looted investors of their money. It is because of these reasons that mutual funds are not perceived to be as safe an investment option as bank deposits….

Is it good time to invest in mutual fund?

There is no best time as such for investing in mutual funds. Individuals can make investments in mutual funds as and when they wish. But it is always better to catch the funds at a lower NAV rather than higher price. It will not only maximise your returns but also lead to higher wealth accumulation….

Is 50 lakhs a good salary in India?

To earn 50 Lakhs per annum, first have a higher income expectation. Only then, you can earn 50 lakhs. If you are in India, you will most likely have to start a business to reach that goal.

Which Blue Chip Fund is best?

Top 10 Large Cap Mutual Funds

Fund Name Category 1Y Returns
Canara Robeco Bluechip Equity Fund Equity 68.0%
Axis Bluechip Fund Equity 52.4%
HDFC Index Fund – SENSEX Plan Equity 71.0%
Mirae Asset Large Cap Fund Equity 72.0%

Can I lose all my money in mutual fund?

There is no guarantee you will not lose money in mutual funds. In fact, in certain extreme circumstances you could end up losing all your investments. Mutual funds are managed by fund managers who invest in a wide variety of stocks, bonds and commodities. So, it’s not that all of your mutual funds would fail….

How much money should I put in mutual funds?

On average, you can be expected to front a minimum of $2,500 to open a mutual fund. However there are funds that require amounts as little as $500. Because of this large difference in minimum investment amounts, it helps to shop around before selecting a mutual fund….