Supreme Court Bar Association & SCAORA Condemn Calls For CJI Surya Kant's Resignation
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https://www.livelaw.in/top-stories/supreme-court-bar-association-condemns-calls-for-cji-surya-kants-resignation-554318
Courtesy : Live Law
Monday, 12 October 2026
Supreme Court Bar Association & SCAORA Condemn Calls For CJI Surya Kant's Resignation
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Had the income and wealth of top 10% and bottom 10% families of China gone down recently? AI Overview Yes, the wealth of China’s ultra-wealthy top tier has faced downward pressure due to the prolonged property market downturn and recent government tax crackdowns, while the bottom 10% continue to experience sluggish income growth amid broader economic strains.
Top 10% (Wealthy Families)
• Decline in High-Net-Worth Assets: According to data from reports like the Hurun Research Institute via South China Morning Post, the total wealth held by China's multi-millionaire families decreased by about 5% year-over-year as real estate values and corporate valuations dropped.
• Regulatory and Tax Pressures: Beijing has ramped up enforcement on offshore assets, family trusts, and overseas income, levying retroactive taxes (such as a 20% rate on specific offshore structures) that have forced high-net-worth individuals to liquidate or borrow against holdings.
• Concentration at the Very Top: Even as overall aggregate wealth for the broader top tier softened, an even smaller sub-elite (the top 0.01% or top 130,000 families) slightly increased their internal concentration of that shrinking pie.
Bottom 10% (Low-Income Families)
• Stagnant or Slow-Growing Incomes: Lower-income and rural households have faced a weak job market, subdued consumer demand, and reduced local government fiscal support.
• Macroeconomic Pressure: While extreme poverty-line counts established in prior years largely lifted people above baseline survival thresholds, the bottom 10% to 50% hold a very small fraction of national wealth (roughly 6% or less of total household wealth) and continue to see fragile wage growth relative to the country's rising cost of living and property-linked economic drag.
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Had the income and wealth of top 10% and bottom 10% families of India gone down recently? AI Overview : The income and wealth of India's top 10% have surged significantly, while the bottom 10% have experienced stagnant real incomes or slow growth with rising asset ownership.
Top 10% Income and Wealth • Wealth Surge: The top 10% of Indians hold roughly 65% of the country's total wealth, and the top 1% control about 40%.
• Rapid Growth: Between 2019 and 2025, the number of ultra-wealthy individuals (net worth above ₹1,000 crore) grew by 77%, and their cumulative wealth skyrocketed by 227%. The wealth of India's five richest families increased by 400%.
• Income Share: The top 10% capture nearly 58% to 60% of the national income.
Bottom 10% Income and Wealth
• Stagnant Share: The bottom 50% and bottom 10% have seen little to no increase in their overall share of national wealth, with the bottom 50% holding a stagnant share of roughly 6.4% to 15% depending on income versus wealth metrics.
• Low Thresholds: According to the World Bank Poverty and Inequality Platform, the daily income or consumption threshold for India's poorest 10% is about $3 per person, showing low baseline levels rather than an absolute collapse.
• Asset Improvements: Despite flat relative wealth shares, rural and lower-income households have recorded substantial gains in basic asset and digital ownership (such as mobile phones, vehicles, and refrigerators) over recent years due to lower technology and manufacturing costs. (So the popularity of CJP made a cental minister to resign and now challenges GOI /SC. Both should help all economically other than 10% and particulary to senior/supersenior citizens who are at disadvantage ie., in penury.
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