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.
A massive earthquake measuring 6.1 on the Richter scale occurred along the Mizoram-Myanmar border on Friday, which was shook parts of Assam, Manipur, Tripura and the adjoining areas of northeast region, authorities said, adding that there were no reported damages or deaths.
Maharashtra Governor Bhagat Singh Koshyari led the state by solemnly laying wreaths at the Martyrs' Memorial erected inside the Mumbai Police Commissionerate premises near Crawford Market in south Mumbai.
Amarinder Singh said in a statement here that although he owed no explanation to "an out of job legislator who has been sacked as a minister in Rajasthan for being named as an accused in murder case of Kamlesh Prajapat, in Barmer, and inquiry for which has been handed over to the CBI by Rajasthan Chief Minister Ashok Ghelot", he still wanted to set the record straight.
Hearings in the US Senate in 2009 on the lessons learnt from the 26/11 Mumbai attacks remarked that the attackers appeared to know their targets better than the responding commandos.
Party in-charge of the state Harish Chaudhary has reached out to Jakhar but sources say he was unable to pacify him and it is likely that Sonia Gandhi may have to intervene in the state's issues. Sources close to Sunil Jakhar confirmed the meeting on Tuesday evening.
Passenger air services were suspended in late March 2020 due to the nationwide lockdown to check the spread of Covid-19. While domestic flight services resumed from May 25, 2020, international flight services were only maintained via 'Bubble Agreements'.
