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.
Addressing a gathering in Tanda in Hoshiarpur district after laying the foundation stone of development work, the Chief Minister said there was no threat to the life of the Prime Minister but he cancelled his programme on Wednesday because of the thin presence of people at the BJP's rally.
High drama was witnessed on Thursday after 125 of 179 international passengers, who arrived at Sri Guru Ram Das Jee International Airport Rajasansi, near here, from Italy, in an Air India flight tested positive on arrival. The Covid passengers were asked to quarantine in local hospital as per the guidelines of the government.
On Wednesday, The Prime Minister's rally in Ferozepur had to be cancelled due to a security lapse after some protesters blocked a route and forced his convoy to spend about 20 minutes on a flyover. The Prime Minister was enroute the National Martyrs Memorial at Hussainiwala when the incident happened.
Although the department has all infrastructural needs in place to deal with the large number of cases expected in case of the third wave becoming a reality, he also appealed to the people to get themselves fully vaccinated against the virus as it is the most potent tool to avoid Covid-19.
Regretting that Prime Minister Narendra Modi had to cancel his scheduled visit to Ferozepur midway, Punjab Chief Minister Charanjit Singh Channi said on Wednesday that there was no security lapse that led to the cancellation of the Prime Ministers visit to the bordering town.
Holding the Punjab government squarely responsible for the "gross security lapse" during Prime Minister Narendra Modi's visit to Punjab, that eventually led to cancellation of all his programmes, former Chief Minister Amarinder Singh on Wednesday demanded dismissal of the government and imposition of President's rule.
