As of 2024, here are some of the richest individuals in India and worldwide:
Richest People in India (2024)
- Mukesh Ambani – Chairman of Reliance Industries
- Gautam Adani – Chairman of Adani Group
- Shiv Nadar – Founder of HCL Technologies
- Cyrus Poonawalla – Chairman of Serum Institute of India
- Radhakishan Damani – Founder of DMart (Avenue Supermarts)
Richest People Worldwide (2024)
- Elon Musk – CEO of Tesla and SpaceX
- Bernard Arnault – Chairman and CEO of LVMH (Moët Hennessy Louis Vuitton)
- Jeff Bezos – Founder of Amazon
- Larry Ellison – Co-founder of Oracle Corporation
- Bill Gates – Co-founder of Microsoft
These rankings can fluctuate due to changes in stock prices, investments, and other financial activities. For the most up-to-date information, financial news outlets or resources like Forbes’ real-time billionaires list are good references.
The increase in petrol and diesel prices in India over the last two years can be attributed to several factors:
- Global Crude Oil Prices: India imports a significant portion of its crude oil. When global crude oil prices rise, the cost of petrol and diesel in India also increases. Geopolitical tensions, production cuts by oil-producing countries, and changes in global demand and supply can all affect crude oil prices.
- Currency Exchange Rates: The value of the Indian Rupee against the US Dollar impacts the cost of importing crude oil. A weaker rupee makes imports more expensive, contributing to higher fuel prices.
- Taxes and Duties: The central and state governments levy various taxes and duties on petrol and diesel. Excise duty by the central government and value-added tax (VAT) by state governments can significantly influence retail prices. In the last two years, excise duties were increased to manage fiscal deficits, adding to fuel prices.
- Logistical and Distribution Costs: The cost of transporting and distributing fuel from refineries to retail outlets also impacts prices. These costs can vary based on infrastructure, distance, and regional factors.
- Demand and Supply Dynamics: During the pandemic, fluctuations in demand due to lockdowns and reduced economic activity initially lowered prices. However, as the economy began to recover, increased demand combined with supply chain disruptions contributed to price hikes.
The combination of these factors has led to sustained high fuel prices in India over the past two years, with limited reduction despite occasional dips in global crude oil prices.
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