According to Oxfam India “Inequality Kills” report, wealth of India’s richest families reached to a record high in 2021.
Oxfam India’s ‘Inequality Kills’ Report
Report states that, 84 per cent of Indian households witnessed an income decline amid covid-19 pandemic.
Richest 98 Indians own the same wealth as bottom 552 million people.
Number of Indian billionaires increased from 102 to 142, during 2021.
Wealth of the top 100 families is Rs 57.3 trillion.
How inequality can be reduced?
According to report, inequality in India can be reduced by taxing higher on richest 10 per cent of the Indian population, to help in funding measures of reducing inequality. This fund could cover schemes for health care, education, and social security.
Oxfam further recommends to conduct at least two surveys every 10 years for measuring inequality and better social security for informal workers.
As per Oxfam, 4 per cent tax on wealth of 98 billionaires can fund the mid-day meal programme for 17 years.
1 per cent wealth tax of them will be enough to take care of total expenditure for school education a7 literacy, or fund Ayushman Bharat scheme for more than seven years.
