New Delhi, Jan 17 (IANS) The number of Indian billionaires grew from 102 to 142, while 84 per cent of households in the country suffered a decline in their income in 2021, which was also a year marked by tremendous loss of life and livelihoods, according to non profit Oxfam India's latest report published on Monday.
The report 'Inequality Kills' comes ahead of the World Economic Forum's Davos Agenda.
It indicates that the collective wealth of India's 100 richest people hit a record high of Rs 57.3 lakh crore in 2021.
In India, during the pandemic (since March 2020, through to November 30th, 2021) the wealth of billionaires increased from Rs 23.14 lakh crore to Rs 53.16 lakh crore.
More than 4.6 crore Indians, meanwhile, are estimated to have fallen into extreme poverty in 2020 (nearly half of the global new poor according to the United Nations).
The stark wealth inequality in India is a result of an economic system rigged in favour of the super-rich over the poor and marginalised, the report said
It advocates a one per cent surcharge on the richest 10 per cent of the Indian population to fund inequality combating measures such as higher investments in school education, universal healthcare, and social security benefits like maternity leaves, paid leaves and pension for all Indians.
"The 'Inequality Kills' briefing shows how deeply unequal our economic system is and how it fuels not only inequality but poverty as well. We urge the Government of India to commit to an economic system which creates a more equal and sustainable nation," Amitabh Behar, CEO, Oxfam India said in a statement.
Further, Behar said that Oxfam's global briefing points to the stark reality of inequality contributing to the death of at least 21,000 people each day, or one person every four seconds.
Moreover, the pandemic set gender parity back from 99 years to now 135 years. Women collectively lost Rs 59.11 lakh crore in earnings in 2020, with 1.3 crore fewer women in work now than in 2019, the report showed.
"It has never been so important to start righting the wrongs of this obscene inequality by targeting extreme wealth through taxation and getting that money back into the real economy to save lives," Behar said.
"India can show the world that democratic systems are capable of wealth redistribution and inclusive growth where no one is left behind. India's fight against inequality and poverty must be supported by the billionaires who made record profits in the country during the pandemic," he suggested.
An NIA Special Court in Patna on Friday convicted eight Jamaat-ul-Mujahideen Bangladesh (JMB) terrorists for planting three IEDs -- one of which exploded -- in January 2018, in and around the premises of Bodh Gaya temple complex in Bihar ahead of the scheduled visit of the Dalai Lama and the then Governor of the eastern state, officials said.
With an eye on the upcoming Uttrakhand and Punjab Assembly polls, the Congress is planning to felicitate the war veterans of the 1971 India-Pakistan War during the end of the year-long celebration of 50th Anniversary of Bangladesh Liberation War.
Given in recognition of a lifetime's work, the Royal Gold Medal is approved personally by the British monarch Queen Elizabeth II and is given to a person or group of people who have had a significant influence on the advancement of architecture. It has been awarded since 1848 and will be presented to Balkrishna Doshi at a special ceremony next year.
Shiromani Akali Dal (SAD) President Sukhbir Singh Badal on Thursday congratulated the farmers for their historic victory whereby they had not only forced the BJP-led Central government to repeal the three agricultural laws, but had also paved the way for making the minimum support price (MSP) a legal right.
Lieutenant Colonel Harjinder Singh who died in the tragic helicopter crash along with the Chief of Defence Staff, General Bipin Rawat and others, had been married to Prafulla from Karnataka. Prafulla is the native of Salmaru village near Karkala town in Udupi district. A pall of gloom descended on the family after the news of the tragedy broke out.
The force said that positive identification of only three mortal remains -- Gen Rawat, Madhulika Rawat and Brig L.S. Lidder -- has been possible as of now, and their mortal remains will be released to the next of kin for final rites as desired by the respective families.
