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India Added 40 Billionaires Last Year But Number of Poor Doubled: Oxfam
According to Oxfam Global Davos 2022 report, India’s richest people have more than doubled their wealth during the Covid-19 crisis that has ravaged the country and exacerbated poverty, and the government should revisit its redistribution wealth policy.
The country’s billionaire population rose by 40 to 142 last year, when a second wave of infections overwhelmed its health infrastructure and pushed crematoriums and cemeteries to the brink. Their combined wealth of nearly $720 billion exceeds that of the poorest 40 percent of the population, the group said in a report on rising inequality released Monday.
Global wealth has exploded during the pandemic, as the value of everything from stock prices to cryptocurrencies and commodities has soared. The net worth of the world’s 500 richest people rose by more than $1 trillion last year, according to the Bloomberg Billionaires Index. India’s urban unemployment rate climbed to 15 percent last May, food insecurity worsened, and it now has more billionaires than France, Sweden and Switzerland combined, Oxfam said.
National policies, including the abolition of wealth tax in 2016, slashing corporate taxes and increasing indirect taxes, are factors that have helped the rich get richer, while the national minimum wage has remained at 178 rupees ($2.40) a day since 2020 , Global Report’s India added. Amid the increasing privatization of the health and education sectors, federal funding to local governments has declined, further exacerbating inequality. The country is home to a quarter of the world’s undernourished people, Oxfam said, citing the World Food Programme.
“Unfortunately, the Indian government’s tax policy has not only benefited the wealthy, but has also deprived Indian states of vital financial resources – which is particularly damaging in the context of the Covid-19 crisis,” the report said.
Oxfam recommends that the government impose a 1% surcharge on the richest 10% of the population to invest in health and education. It noted that the wealth of India’s 10 richest billionaires will be enough to fund the school and higher education of the country’s children for more than 25 years.
Complete News Source : NDTV
Entertainment
Partha Sarathi Deb, 68, a veteran Bengali actress, passes away in a Kolkata hospital; Jeet and Rupanjana Mitra pay respects
Partha Sarathi Deb passed away on Friday, and his remains were taken to Technician’s Studio at 12 pm.
Bengali actor Partha Sarathi Deb, aged 68, passed away at a Kolkata hospital while undergoing treatment, according to his family.
Partha passed away at 11:50 pm on Friday night due to COPD-related ailments. He had been admitted to state-run M R Bangur hospital for the last month, and his condition worsened over the past week, and he was in the ICU.
Jeet honours Rupanjana with a lengthy message
Actor Jeet expressed sadness over the loss of colleague and WBAF committee member Partha Sarathi Deb on X, sharing a photo and offering condolences to his bereaved family and friends.
Actress Rupanjana Mitra announced the news on Facebook, writing a lengthy note in Bengali.
Partha, the vice president of the West Bengal Motion Picture Artists Forum, condoled the death of actor Amit Shah and announced that his body would be taken to Technician Studio, a familiar place for him.
The forum is deeply saddened by the actor’s passing and will keep his remains at Technician’s Studio on March 23, where his loved ones, teammates, and well-wishers can pay their last respects.
About Partha
Partha, a popular serialist, has acted in over 200 works, including theatre, serial, film, and web series. He has appeared in serials like Joyee, Chuni Panna, and Mithai, and starred in movies like Prem Aamar, Kakababu Here Gelen, Lathi, and Bogla Mama Jug Jug Jiyo.
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