Whether or not the poor are becoming poorer under Narendra Modi, there is little doubt the rich are becoming richer. Not only is the richest Indian, Mukesh Ambani, richer by $16.9 billion in 2018 than he was in 2017, but the Forbes list of 121 Indian billionaires includes 19 who gatecrashed the club this year. Clearly, the partial demonetisation Modi announced so dramatically on November 6, 2016, was only a peck at the small fry. The big boys walked away laughing. They are still laughing.
Contrary to popular belief, India has always been a poor country of rich people. Ironically, it
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