India's Richie Rich are leaving India - The Great Exodus
अजित्वा नैव कुर्वीत कदापि जयघोषणाम्।
Wealth Drain - This is much concerning that the brains that are responsible for the economic prosperity of a nation, are finding it worse to reside in the Bharat and are leaving the country to relish high standard of living at some other posh country. If such millionaires are leaving the country, it will impair the financial loss, decrease in investments, Liquidity of income restricts, etc. Wealth Drain is the consequences when these millionaires are abandoning the country, as all expenditures will not incurred by the other country. Their struggling days and subsidy was owned by the Indian government and now the fruit of income tax, flow of income will be enjoyed by the other favourable destination. Most favorable nation for the migration of Indians Richie rich are middle East nations especially UEA, and all time favourite USA. These countries are receiving free wealth from India that are extremely priceless citizens for their country. As such lucrative nations has a condition that by investing some amount of money in their country, these Richie Rich people can get citizenship of their nation, hence elevating these countries economic prosperity and investments.
The Henley Private Wealth Migration Report 2024 has revealed that India is set to experience a significant net loss of 4,300 millionaire this year. While this represents a decrease from the 5,100 who left in 2023, India remains one of the top countries for high-net-worth individual (HNWI) departures globally. This trend reflects a broader pattern of wealth migration influenced by geopolitical tensions, economic uncertainty, and social upheaval.
Reasons why Millionaires are leaving our beautiful country :-
The Bharat is indeed so beautiful and elegant, mother nature has blessed the country with diversity of culture and incredible landscapes. Despite, such extremely priceless qualities, the other side is actually very scary and poor. Every individual hard works to achieve wealth so that better quality of living standards cab be achieved by their near and dears, while our beloved nation Bharat is failing to major extent in providing the same. Following are the some of the reasons that are affecting India's image as a nation of worth living
1. Excessive tax slab for the corporates and people earning higher income. Yet facilities are not as remarkable as expected. Tax liability is too much on the people and no subsidies are offered to them who are paying such huge taxes.
2. Difficult to start start ups or any businesses. Ease of buisness has been improved yet too far from the target that is expected if compared to other nations. Being entrepreneur, is still a challenge at India because soceity still a staunch supporter of sarkari naukari. Sadly, Innovations are least appreciated at our country
3. Basic amenities are not available at towns and cities. Metro cities might are highly developed but in small cities, neither proper health care services nor excellent universities exist. Infrastructure is developing yet not reached to the level that favourable destinations for these migrants do offer.
5. No effective policies or plans for the senior citizens survival after retirement are available at India. This develops concern among the millionaires about their future life, as every people want happy and peaceful life at the old age.
6. Safe culture and environment, a very mammoth issue that is hampering the Bharat's image and is earning bad name to the country. Female safety, children safety, senior citizens safety are the problems never gets lime light and are not worked upon by the government.
7. Increasing pollution, heat waves, inadequate fresh and clean air to breath, decreasing the ground water level, very common necessity for the life are at wanton level in India. Such environment degradations are making India least healthier nation to survive. Those who can afford will certainly find a place where such basic life needs can be met with convenience.
8. Insurgents and terrorist attacks that puts civilians into danger. This forces millionaires to find some great location so that life can be more happier and safe.
What can done to make India worth living and loving nation :-
1. Government rigorous and serious intervention is needed to work on the taxes and raising the standard of living in the country. Leverage and free facilities like Health care and education services should be the priority of government.
2. More business' and start ups' friendly environment must be enacted in order to promote wider scope for the entrepreneurs and thus country's economic prosperity.
3. Swatchtha Abhiyan has to be taken very seriously, building more clean and green cities must be the new targets.
4. The country has to stop the ways and pathway that are degrading our environment to the worst. Pollution curbing is the non conventional issues that has to be taken seriously and awareness need to taken to prevent our deteriorating environment.
5. Safety is priority for every family be it Richie rich or middle class or poors. Strict rules has to be enacted so that who disobeys the safety protocols must be penalised or punished to extreme extent.
Comments