The 2017 Forbes India Rich List has raised some curious questions. Despite India’s economic hiccups, 100 tycoons on the Rich List saw their wealth soar 26% to $479 billion (over Rs 31 lakh crore) in one year.

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The economy may have sputtered in first quarter with a three-year-low 5.7% growth, on account of the GST rollout and last year’s note-ban, but the stock market has seen 19% jump in 2017. Notable among the tycoons’ feat is the spectacular jump by Mukesh Ambani, who added $15.3 billion to his last year's wealth to become one of Asia's top five richest. His net worth has swelled a staggering 67% to $38 billion (nearly Rs 2.5 lakh crore) on account of the improved oil-refining margins and Reliance Jio's thundering success.

This massive pile-up of wealth in few hands flies in the face of the growth in stressed assets in India's banking system to Rs 11.5 lakh crore (14% of total advances). Similarly, the news of a massive job losses, especially in the telecom industry, has taken the sheen off the India Inc. As per industry estimates, nearly 1.5 lakh jobs in the debt-ridden, loss-making telecom industry face an imminent danger of corporate downsizing.