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.
Coinciding with the auspicious occasion of Guru Nanak Jayanti, Modi also announced that the constitutional process to repeal the laws would be taken up in the winter session of Parliament that begins on November 29 and appealed to the agitating farmers to withdraw their agitation and go back to their homes.
Prime Minister Narendra Modi on Thursday said the global trust earned by the Indian healthcare sector has led to the nation being called the "pharmacy of the world", in recent times.
Punjab Chief Minister Charanjit Singh Channi on Thursday urged the national governments of India and Pakistan to simplify the procedure for obtaining permission to pay obeisance at Gurdwara Sri Kartarpur Sahib.
The Chief Minister said in line with the scheme, eye camps would be organised throughout the state where the eye sight of the people would be thoroughly checked and those found suffering from the cataract problem would be operated upon after a period of 15 days.
A Delhi court on Thursday directed Delhi Police to file an Action Taken Report (ATR) on a petition seeking an FIR against Haryana Chief Minister Manohar Lal Khattar for his alleged controversial remarks against the protesting farmers.
The Uttar Pradesh government has given a six months' extension to the special investigation team (SIT) probing the anti-Sikh riots of 1984. The SIT had sought extension and the state government has given time to the SIT to complete the investigation and make arrests by May 2022.
