A report by Oxfam International
Wide gap of economic inequality in the country
India’s richest 1% own 40% of the country’s wealth
The poorest section of the population owns only 3 percent of the country’s assets
A 5% tax on India’s 10 richest people can fully fund schooling for children
Compared to the rich, the poor spend more on essential goods and services and pay disproportionately higher taxes.
64.3 percent of the total taxes collected from food and non-food items come from the bottom 50 percent of the population.
At the all-India level, the bottom 50 percent of the population pay six times more in indirect taxation as a percentage of income than the top 10 percent.
In 2021-22, approximately 64 per cent of goods and services tax totaling Rs 14.83/- lakh crore came from the bottom 50 per cent of the population, while only 3 per cent of GST came from the top 10 per cent.
In India, where a male laborer earns 1 rupee, a female worker earns 63 paise
121 percent increase in the wealth of India’s billionaires till November 2022
The total number of billionaires in India increased from 102 in 2020 to 166 in 2022
The number of hungry Indians increased from 190 million in 2018 to 350 million in 2022
In 2022, 65 percent of deaths among children under 5 are due to mass starvation
According to Oxfam, India has the highest number of poor in the world at 228.9 million
Wealth of 21 richest individuals, equivalent to the wealth of 70 crore Indians
The wealth of India’s 10 richest people increased by Rs 27.52 lakh crore in one year
A one-time tax of 2% on the wealth of India’s billionaires could raise Rs 40,423/- crore for the next three years to feed malnourished children.
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