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LATEST NEWS UPDATES | Covid deepened inequalities: wealth, education, gender -Udit Misra

Covid deepened inequalities: wealth, education, gender -Udit Misra

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published Published on Jan 25, 2021   modified Modified on Jan 25, 2021

-The Indian Express

An Oxfam report, titled ‘The Inequality Virus’, has found that as the pandemic stalled the economy, forcing millions of poor Indians out of jobs, the richest billionaires in India increased their wealth by 35 per cent.

A new report by Oxfam has found that the Covid pandemic deeply exacerbated existing inequalities in India and around the world.

The report, titled ‘The Inequality Virus’, has found that as the pandemic stalled the economy, forcing millions of poor Indians out of jobs, the richest billionaires in India increased their wealth by 35 per cent.

“The wealth of Indian billionaires increased by 35 per cent during the lockdown and by 90 per cent since 2009 to $422.9 billion ranking India sixth in the world after US, China, Germany, Russia and France,” states the report.

According to Oxfam’s calculations, since March, as the government announced possibly the strictest lockdown anywhere in the world, India’s top 100 billionaires saw their fortunes increase by Rs 12.97 trillion — enough money to give every one of the 138 million poorest Indians a cheque for Rs 94,045 each. In stark contrast, 170,000 people lost their jobs every hour in the month of April 2020, the report points out.

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The Indian Express, 25 January, 2021, https://indianexpress.com/article/india/covid-deepened-inequalities-wealth-education-gender-7160341/


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