India's richest one percent of people have more than 40 percent of the country's total wealth, while on the other hand, half of the country's population is living on just 3 percent of the country's total wealth. According to a report, since the start of the pandemic in November 2022, the wealth of billionaires in India has seen an increase of 121 percent in real terms, or Rs 3,608 crore every day. However, in terms of paying GST, the burden fell more on the common man.
On the first day of the annual meeting of the World Economic Forum, the human rights group Oxfam International released the India Supplement to the annual inequality report. He has said that by imposing a five percent tax on the 10 richest people in India, all the money can be raised for the campaign to bring children back to school.
The report said, 'Rs 1.79 lakh crore could have been collected from a one-time tax on unrealized gains on just one billionaire Gautam Adani during 2017-2021. This amount is enough to employ over 5 million Indian primary school teachers for a year.
The report titled 'Survival of the Richest' further stated that if India's billionaires were taxed once on their entire wealth at the rate of 2 percent, it would generate 40,423 crores over the next three years to feed the country's malnourished people. To meet the requirement of Rs. It states, "A one-time tax of five percent on the country's 10 richest billionaires (Rs 1.37 lakh crore) by the Ministry of Health and Family Welfare (Rs 86,200 crore) and the Ministry of AYUSH (Rs 3,050 crore) for the year 2022-23." is more than 1.5 times the estimated funding for
For every rupee that men get, women get only 63 paise.
On gender inequality, the report said that female workers get only 63 paise for every Re 1 earned by a male worker. For Scheduled Castes and rural workers, the gap is even greater—Scheduled Castes earned 55 percent of the social groups' earnings and only half of the latter's urban earnings between 2018 and 2019.
"A 2.5 percent tax on the top 100 Indian billionaires or a five percent tax on the top 10 Indian billionaires would raise almost the entire amount needed to get children back to school," the report said.
Oxfam said the report blends qualitative and quantitative information to explore the impact of inequality in India. Secondary sources such as Forbes and Credit Suisse have been used to look at wealth inequality and billionaire wealth in the country, while government sources such as NSS, Union Budget documents, parliamentary questions, etc. have been used to corroborate the arguments made through the report. has been done.
Low-income half of the country's population paid 64% of the GST
Oxfam said that since the start of the pandemic in November 2022, the wealth of billionaires in India has seen an increase of 121 percent in real terms, or Rs 3,608 crore every day. About 64 percent of the Rs crore came from the bottom 50 percent of the population in 2021-22 with only 3 percent GST coming from the top 10 percent.
Oxfam said that the total number of billionaires in India is expected to increase from 102 in 2020 to 166 in 2022. The report states that the combined wealth of India's 100 richest people has reached $660 billion (Rs 54.12 lakh crore).
Oxfam India CEO Amitabh Behar said, “The country's marginalized Dalits, Adivasis, Muslims, women, and informal sector workers are trapped as victims in a system that only interests the rich. “Poor people are paying more taxes, spending more on essential goods and services than the rich. The time has come to tax the rich and ensure they pay their fair share.
Behar urged the Union finance minister to implement progressive tax measures such as wealth tax and inheritance tax, which he said would prove historically effective in tackling inequality.
'We will make his Ram Naam Satya...', CM Yogi gave a strong message; Less talk, more results
Chief Minister Yogi Adityanath gave a strong message to those challenging law and order in Baghpat and Aligarh. Said, 'Have you ever thought that your daughter and the businessman can go out safely
Narendra Modi: 'We are determined to make India the third largest economy in the world': PM Modi at G20 meeting
Prime Minister Narendra Modi (PM Modi) virtually addressed the G20 meeting of trade and investment ministers on Thursday. During this, he said that MSME is responsible for 60 to 70 percent of
GDP: Government will release October-December GDP figures today, growth rate may remain up to 5.5 percent in third quarter
The country's economic growth may come down to 5.5 percent in the third quarter of the current financial year i.e. October-December due to weak demand amid an aggressive increase in the policy rate
Mann Ki Baat: 100th episode of Mann Ki Baat will be heard live at UN Headquarters, Bill Gates also congratulated
The 100th episode of Prime Minister Narendra Modi's monthly radio program Mann Ki Baat will also be broadcast at the United Nations Headquarters. The show's 100th episode will air on Sunday, 30 April.
Ben Stokes Injury: Big blow to Chennai before IPL 2023, Ben Stokes will not bowl in opening matches
Before the start of IPL 2023, Chennai Super Kings have suffered a major setback. The team's star all-rounder Ben Stokes is not fully fit before the start of this season and will not bowl in the first
UK MP criticizes BBC for attacking PM Modi, alleges biased reporting
Lord Rami Ranger, a member of the House of Lords, called the Upper House of Britain, has strongly criticized the BBC for a news series attacking Prime Minister Narendra Modi. Criticizing the BBC,
Corona In India : The daily number of corona cases in the country has crossed 11 thousand; Active patients are also more than 49 thousand
Corona cases are continuously increasing in the country. In the last 24 hours, more than 11 thousand new cases of corona infection have been reported. With this, the figure of such corona infected who
Chennai Weather: Light rain will occur in parts of Chennai today within the next three hours, IMD predicts
Chennai Weather: After the rains in many states across the country, the weather has become quite pleasant. Its effect has also been seen in Chennai. On March 19, light to moderate rain with lightning
Ishan Kishan Record: Ishan Kishan broke Sachin Tendulkar's record; Left Gill behind, equaled Dhoni
Indian wicket-keeper batsman Ishan Kishan is running in excellent rhythm. After scoring a stormy half-century in his second Test match against West Indies, he has also scored half-centuries in two
Hardeep Singh Nijjar case: 'Strong indications of India's involvement in the killing of Sikh separatists', statement of Trudeau MP
Once again a Canadian MP has stated the murder of Khalistani supporter Hardeep Singh Nijjar. A leader of the New Democratic Party (NDP), an ally of the ruling party there, says that there are clear