-Newsclick.in The report points out that in India, during the pandemic the wealth of billionaires increased from Rs 23.14 lakh crore to Rs 53.16 lakh crore. At the same time, more than 4.6 crore Indians are estimated to have fallen into extreme poverty in 2020. While 84% of households in India suffered a decline in their income in a year marked by the tremendous loss of life and livelihoods, the number of...
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Income of 84% Indian households fell in 2021 while 40 new billionaires emerged: Oxfam report
-Scroll.in The non-profit group said that while the wealth of Indian billionaires rose by Rs 30 lakh crore during pandemic, over 4.6 crore people fell to extreme poverty. The income of 84% Indian households declined in 2021 while the number of billionaires in the country grew from 102 to 142 during the last year, non-profit group Oxfam said in a report released on Sunday. In its report titled “Inequality Kills”, Oxfam said that...
More »Wealth of India's 10 richest enough to fund school, higher education of every child for 25 years: Study
-The New Indian Express Oxfam India further said that an additional one per cent tax on the richest 10 per cent can provide the country with nearly 17.7 lakh extra oxygen cylinders. NEW DELHI/ DAVOS: Indian billionaires saw their combined fortunes more than double during the COVID-19 pandemic, and their count shot up by 39 per cent to 142, while the wealth of the ten richest is enough to fund school and...
More »Misleading Picture of Household Wealth -CP Chandrasekhar and Jayati Ghosh
-The Hindu Business Line/ NetworkIdeas.org In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise. This has led observers to conclude that income and wealth Inequality in India has increased. Hard evidence on the extent of that increase is difficult to...
More »The cold truth about India’s income Inequality -Seema Chishti
-The Hindu Far from pushing for social and economic equality, the state is fanning systems and principles to strengthen the divide The latest edition of the World Inequality Report (https://bit.ly/3Fx8vv4 and https://bit.ly/3EvazlY) has confirmed that the world continues to sprint down the path of Inequality. “Global multimillionaires have captured a disproportionate share of global wealth growth over the past several decades: the top 1% took 38% of all additional wealth accumulated since...
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