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Billionaires in India increased from 102 to 142 during the Corona Pandemic

If 1% additional tax is imposed on the top 10% rich people of India, then with that money the country will get 17.7 lakh extra oxygen cylinders.

Story Highlights
  • According to the Oxfam report, India has now become one of the top 3 countries in terms of the number of billionaires.

When the country was battling with the second wave of the Corona Pandemic, people were dying due to lack of health facilities, dead bodies were lying in crematoriums, bodies were floating in rivers, during that time 40 new people became billionaires in India.

These people have total assets of $ 720 billion. Even if we add the total wealth of 40 percent of India’s population, it will be even more than that. You will be surprised to know……… so watch this video till the end.

Along with the whole world, India is also battling the corona pandemic  for the last two years. Due to repeated lock-downs, crores of people have become unemployed. It has become difficult for lakhs of families to get even food for two times food. Small businesses have come to a standstill. But you will be surprised to know that during the Corona pandemic, while the income of 84 percent of the households in India declined, the number of Indian billionaires increased from 102 to 142.

The annual inequality survey has been released by the NGO Oxfam India. According to this survey report, the total wealth of Indian billionaires doubled during the Corona period. Their wealth can be gauged from the fact that the top-10 rich have so much wealth that they can run all the schools and colleges of the country for the next 25 years.

Due to Corona, inequality has increased so much that 10% of the richest people of the country have 45% of the country’s wealth. At the same time, 50% of the poor population of the country has only 6% wealth.

If 1% additional tax is imposed on the top 10% rich people of India, then with that money the country will get 17.7 lakh extra oxygen cylinders.

According to the economic inequality report, the total wealth of billionaires is 719 billion dollars, that is, 53 lakh crore rupees.

Now if we talk about only 98 richest people out of 142 billionaires, then they have the same wealth as 555 million poor people.

Now if we talk about the 10 richest people of the country, then in the report it has been said that even if the top-10 rich of India spend 1 million dollars, i.e. 7.4 crores every day, even then their wealth will take 84 years to be spent.

At the same time, it has also been suggested that if wealth tax is imposed on these rich people of the country, then $ 78.3 billion, i.e. 5.8 lakh crore rupees can be collected. With this money, the government’s health budget can increase by 271%.

Talking about gender, 28% of women lost their jobs during the Corona period. This reduced his total earnings by two-thirds. Regarding the condition of women, it was said that in Budget 2021, the government spent only that much on the Ministry of Women and Child Development, which is not even half of the total wealth of India’s bottom-10 millionaires.

Inequality has increased not only in India, but all over the world. One of the worst effects of the corona pandemic is the increase in economic inequality. Right now the situation is that every day at least 21 thousand people are losing their lives due to economic inequality. This means that due to inequality, one person is dying every 4 seconds.

According to the Oxfam report, India has now become one of the top 3 countries in terms of the number of billionaires. Now there are more billionaires in America and China than in India. There are more billionaires in India alone than France, Sweden and Switzerland combined. On the other hand, 50 percent of the poor population of the country has only 6 percent share in the national wealth. This shows how inequality is increasing at an alarming rate in India.

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