The 11% growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said

MUMBAI : Financial wealth in India grew 11% to $3.4 trillion in 2020 despite the coronavirus pandemic, a global consultancy estimated on Tuesday.

Financial wealth in India grew 11% to $3.4 trillion in 2020 despite the coronavirus pandemic, a global consultancy estimated on Tuesday.The 11% growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said.Financial wealth is defined as the total wealth excluding real assets and liabilities held by adult individuals.It can be noted that after a sharp correction in the early days of the pandemic, there has been a continuing rally in stocks since April last year, which has led to concerns being expressed across quarters.

Concerns are also being expressed about a greater disparity in incomes and the pandemic widening the divide.The report noted that the next few years.

https://www.livemint.com/news/india/financial-wealth-in-india-jumps-11-to-3-4-tn-in-2020-despite-pandemic-report-11623755014470.html