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.
The Indian government, before taking any final decision on the resumption of international flight operations, is "closely monitoring" the situation emerging out of the detection and spread of coronavirus' Omicron variant.
On Sunday, Kejriwal wrote to Prime Minister Narendra Modi, requesting him to stop international flights from regions witnessing a rise in Covid-19 cases. Meanwhile, Delhi government-run Lok Nayak Jai Prakash Hospital has been designated to treat patients testing positive for the new Covid-19 variant Omicron.
Customs officials at Rajiv Gandhi International Airport here seized 472.8 grams gold in paste form from seat pockets of a flight that arrived from Guwahati. Acting on specific intelligence, Customs sleuths recovered in gold paste form worth Rs. 23.33 lakh.
Punjab Chief Minister Charanjit Singh Channi on Tuesday exhorted Prime Minister Narendra Modi to accept his proposal for complete waiver of farmers and farm labourers' debt, adding the state is ready to take over its share of debt burden along with the government of India.
Among other questions, the MPs had sought to know the number of cases registered against farmers in connection with the agitation; the data on the number of farmers who died during the agitation held in and around the National Capital; and whether the government proposes to provide financial assistance to the kin of farmers who died during the said agitation.
A day after the three contentious farm laws were repealed by the Parliament, the government on Tuesday reached out to the agitating farmers, asking them to suggest five names to be included in a committee to be formed to discuss farm related issues, including MSP.
