Oxfam report revealed: India’s 21 biggest billionaires have more wealth than 70 crore people of country

Mak Dell16/01/2023

There is a long debate going on in the world about the difference between rich and poor. However, even in a developing country like India, this gap is increasing continuously. There have also been many revelations related to this in the recent report of Oxfam. According to this report, India’s 21 richest billionaires currently have more wealth than the country’s 700 million people.

This Oxfam report states that since the start of the Corona epidemic in 2020, till November 2021, where most Indians faced job problems and struggled to save savings, till November last year, the wealth of Indian billionaires increased. An increase of 121 percent was observed. Even in this era of Corona pandemic, the wealth of India’s billionaires has increased by Rs 3 thousand 608 crore every day.

According to the report, in 2021, five percent of the people of India were in possession of 62 percent of the total wealth of the country. At the same time, the bottom 50 per cent of India’s population controlled only three per cent of the country’s wealth.

According to this Oxfam report- ‘Survival of the Richest: The India Story’, where the number of billionaires in India was 102 in 2020, in 2022 this figure has reached 166. This report will be presented at the World Economic Forum (WEF) to be held in Davos, Switzerland on Monday.

It has been said in the report that the wealth of the 100 richest people of India has crossed $ 660 billion (about Rs 54 lakh 12 thousand crore). Explain that with this the entire budget of India can be run for 18 months. According to the analysis, if only two per cent tax is levied on the total wealth of Indian billionaires, it can meet all the needs of malnourished children for the next three years.

The issue of unequal distribution of wealth generated in India in the last 10 years has also been raised in the report. It says that between 2012 and 2021, 40% of all the wealth that came into existence in India went to the richest one percent of the country. At the same time, only three percent of the property has come in the hands of 50 percent of the public.