Mukesh Ambani tops 'BHI Rich List' 7th time in row
Mumbai, Sep 25: Industrialist and Reliance Industries Ltd Chairman Mukesh Ambani has topped the "Barclays Hurun India Rich List-2018" for the seventh consecutive year, with his wealth estimated at Rs 371,000 crore, an official said here on Tuesday.
Figuring next on the chart are S.P. Hinduja & Family of Hinduja Group, with an estimated wealth of Rs 159,000 crore, and Arcelor Mittal's L.N. Mittal & Family at Rs 114,500 crore.
Following them are: Wipro's Azim Premji at Rs 96,100 crore, Sun Pharmaceuticals Ltd's Dilip Shanghvi at Rs.89,700 crore, Kotak Mahindra Bank's Uday Kotak at Rs 78,600 crore, Serum Institute of India's Cyrus Poonawalla at Rs 73,000-crore, Adani Group's Gautam Adani & Family at Rs 71,200 crore, and Shapoorji Pallonji Mistry's Cyrus P. Mistry at Rs 69,400 crore.
The annual list is a compilation of the super-richest Indians having a net worth of Rs 1,000 crore or more, and this number has increased by a staggering one-third -- from 617 in 2017 to 831 in 2018, said Hurun Report India's Managing Director Rahman Junaid.
The cumulative wealth of these 831 individuals featuring in the list stands at USD 719 billion, or one-quarter of the Indian GDP of USD 2,848 billion, as per the IMF's April 2018 estimates.
Expectedly, the country's commercial capital Mumbai tops the list with 233 names, followed by the political capital New Delhi at 163 and the IT capital of Bengaluru at 70, said Barclays Private Clients CEO S.N. Bansal.
While 306 new entrants made it to the list this year, 75 of those featuring in 2017 list failed to find a place in the super-exclusive Rs 1,000-crore-plus club.
"The Indian edition of the list is the fastest growing rich list in the world, highlighting the optimism of a young, vibrant and ambitious country," said Junaid.
"Wealth creation in India is growing at an unprecedented pace, and the time it takes to accumulate wealth is shorter than before," remarked Bansal at the report launch.
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Time has come to implement Women's Reservation Act: PM Modi's letter to LS, RS floor leaders
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New Delhi (PTI): Prime Minister Narendra Modi has said that the time has come for the implementation of the Women's Reservation Act in its true spirit and the 2029 Lok Sabha elections and Assembly elections are conducted with the quota for women in place.
In a letter to the floor leaders of Lok Sabha and Rajya Sabha, ahead of the three-day special sittings of Parliament, Modi also asked all members to come together in one voice to pass the amendments to the women's reservation law, officially known as Nari Shakti Vandan Adhiniyam.
"After extensive deliberations, we have reached the conclusion that the time has now come to implement the Nari Shakti Vandan Adhiniyam in its true spirit across the country.
"It is imperative that the 2029 Lok Sabha elections and Assembly elections are conducted with women's reservation in place," the Prime Minister said in his letter dated April 11.
The Budget Session of Parliament has been extended, and a special three-day sitting of the House has been convened on April 16 to 18.
The Women's Reservation Act will ensure an increase in the number of Lok Sabha seats to 816, of which 273 will be reserved for women.
The provision to provide 33 per cent reservation to women in the Lok Sabha and state assemblies was brought by amending the Constitution in 2023.
However, the women's quota would have come into effect only after the completion of the delimitation exercise on the basis of the 2027 Census. This meant the reservation would not have become enforceable before 2034 if the present law remains as is.
To implement it from the 2029 Lok Sabha elections, changes were needed in the Nari Shakti Vandan Adhiniyam; hence, the government is holding a special session to pass the amendments to the law.
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