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.
Amid a surge in Coronavirus cases, the Delhi government on Tuesday decided to impose a weekend curfew from January 8. During weekdays, the metros and buses will run at full seating capacity with strict adherence to Covid-19 guidelines.
The centuries-old Ravidas temple in Tughlakabad was demolished by the DDA on August 10 in 2019 following a Supreme Court order. Since then, a series of protests have been organised by Dalit organisations.
Veteran social worker Sindhutai Sapkal - known as the 'Mother to thousands of orphans' - passed away following a cardiac arrest, a family friend said. She was 73, and breathed her last at Galaxy Hospital where she was under treatment for almost a month.
A man was beaten to death for allegedly disrespecting 'Nishan Sahib' (the Sikh religious flag) at a gurdwara in village Nizampur in Kapurthala district on Sunday. Residents of the village claimed that the man disrespected the Nishan Sahib and tried to run away from the spot.
Talking to the media here after paying obeisance at Sri Darbar Sahib, Channi, who accompanied by Deputy CM Sukhjinder Singh Randhawa, described it as the most heinous act, which has not only hurt religious sentiments but also tormented all, and should be condemned with the harshest possible words by one and all.
"When the officials examined a consignment declared as plastic hot fix with a value of Rs 5,000, they got suspicious. The said consignment was then opened. On examination, a packet containing pouches of cut and polished diamonds was found inside it. These diamonds were concealed very ingeniously in the packets of 'plastic hot fix'," said an official.
