New Delhi/Davos. During the COVID-19 pandemic, the total assets of India’s billionaires have more than doubled and the wealth of the 10 richest people is to provide schooling and higher education to every child of the country for 25 years. enough for. This was said in a study on Monday.
According to the study, the number of billionaires in India increased by 39 percent to 142 during this period. Oxfam India’s annual inequality survey, released on the first day of the World Economic Forum’s Davos Agenda summit, held via video conference, said that if an additional tax of one per cent was imposed on the richest 10 per cent, the country would receive about 17.7 lakh additional oxygen Cylinders can be found.
The Oxfam report on economic inequality further stated that 142 Indian billionaires have a total net worth of USD 719 billion (over Rs 53 lakh crore). The total wealth of the country’s richest 98 people is equal to the total wealth of the poorest 555 crore people. The report further said that if the 10 richest Indian billionaires were to spend US$1 million a day, their current wealth would run out in 84 years.
Oxfam said imposing an annual wealth tax on these billionaires would provide US$78.3 billion each year, which could increase the government health budget by 271 percent. According to the report, COVID-19 started as a health crisis, but now it has become an economic crisis.
During the pandemic, the wealthiest 10 per cent held 45 per cent of the national wealth, while the bottom 50 per cent of the population received only six per cent. The study urged the government to rethink its primary sources of revenue generation and adopt more progressive methods of taxation.