Deccan Herald - One-tenth of billionaire's wealth can free India of fiscal deficit: "One-tenth of billionaire's wealth can free India of fiscal deficit New Delhi, PTI: India's economy could be free of fiscal deficit if the country's 54 billionaires parted with just about one-tenth of their fortunes for the national interest.
Call it the embarrassment of riches if you want but India's economy could be free of fiscal deficit if the country's 54 billionaires parted with just about one-tenth of their fortunes for the national interest.
According to the list of richest Indians, published by the US-based business magazine Forbes, India has 54 billionaires and their collective net worth stands at over 368 billion dollars. This amount is nearly 10 times of the country's fiscal deficit, estimated at Rs 1,50,948 crore (about 38 billion dollars) in the Union Budget for 2007-08."
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