-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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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 »India demands $1 trillion as ‘climate finance’ -Jacob Koshy
-The Hindu India’s NDCs are subject to the availability of this amount in climate finance, says key negotiator India has demanded a trillion dollars over the next decade from developed countries to adapt to, and mitigate, the challenges arising from global warming, and has kept this as a condition for delivering on climate commitments made by Prime Minister Narendra Modi, a senior official who is part of ongoing climate agreement negotiations in...
More »Parameters of climate finance and technology transfer remain undefined: FM Nirmala Sitharaman -Sriram Lakshman
-The Hindu Developed countries have committed under the Paris Agreement to allocate $ 100 billion per year from 2020 onwards to facilitate emission cuts in poorer countries and also to effect technology transfer in this context. Questions around how the $100 billion yearly commitment towards climate finance will be measured, and related technology transfer accounted for, remain unanswered, Union Finance Minister Nirmala Sitharaman said at the conclusion of the Washington DC leg...
More »What the global minimum tax deal means for India -Jagadish Shettigar and Pooja Misra
-Livemint.com The finance ministers of G-20 countries are scheduled to meet today in Washington to discuss the global minimum tax of 15% for multinational enterprises. Mint looks at the global minimum tax and its implications. * What is the global minimum tax? Last week, the Organization for Economic Co-operation and Development (OECD) finalized a landmark agreement to subject multinational enterprises (MNEs) to a minimum 15% tax from 2023. A total of 136 countries,...
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