India was the country with the second largest number of billionaires per trillion dollars of GDP, second only to Russia. Given that Russia has fared somewhat worse during this crisis, it would not be surprising if India has already overtaken Russia in this dubious distinction. I say “dubious” not because I am against wealth but because three factors—land, natural resources, and government contracts or licenses—are the predominant sources of the wealth of India’s billionaires. And all of these factors come from the government. It would augur better for India if more of its billionaires came
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