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.
His announcement comes days after Advocate General A.P.S. Deol resigned from his position and the Punjab government has sent a list of 10 names to the Union Public Service Commission for appointment of the Director General of Police.
According to the SAFAR, at 6 p.m. in Delhi, PM2.5 was 435 micrograms per cubic meter. By Saturday morning, its magnitude may decline but values will remain at the edge of very poor and severe, System of Air Quality and Weather Forecasting and Research (SAFAR) said.
Defence sources said the customary exchange of Diwali sweets took place between the two armies at the Aman Setu bridge near the Kaman post in Uri sector of the LoC. The other point of exchange was Tithwal on the Kishenganga River in Tangdhar sector of the LoC in Kupwara district.
Director General of Police Iqbal Preet Singh Sahota said the Ludhiana rural police earlier this week arrested two persons for providing shelter and logistical support to the accused, Ranjeet Singh, alias Gora, in the Jalalabad blast case, which is being investigated by the National Investigation Agency (NIA).
Chief Minister Yogi Adityanath, who reached Ayodhya for the fifth 'Deepotsav' (festival of lights) event, while inaugurating and laying the foundation stone of various projects worth Rs 661 crore, credited Prime Minister Narendra Modi for the construction of a grand Ram temple and also launched an attack on the opposition parties.
Bharatiya Kisan Union (BKU) leader Rakesh Tikait on Monday warned that if the farmers' demands are not met till November 26, they would pitch tents the following day across all borders of Delhi and reinvigorate their agitation.
