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The Inequality Issue

#InequalityIsUnacceptable. So, what is the Inequality Issue? The problem is that the total number of billionaires in India increased from 102 in 2020 to 166 billionaires in 2022. The combined wealth of India’s 100 richest has touched $660 billion (INR 54.12 lakh crore) – an amount that could fund the entire Union Budget for more than 18 months. Richest 21 Indian billionaires have more wealth than 700 million Indians. First, COVID-19 pandemic hit India which was already divided on the lines of caste, class, gender, and religion. Second, billionaires and corporates have benefitted from several crisis in India – be it COVID-19 vaccine, the war in Ukraine or rising inflation.The Governments, business leaders, and billionaires celebrate India’s economic growth as extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years. Among the increased number of world’s poor, 1/3rd are from India. The government must recognise this. The single most urgent and structural and strategic action that the Union Government must take now is —to put it clearly— to tax the richest. The revenue generated from this tax collection must be spent on universal healthcare, Right to Education and social protection for India’s informal sector workers. We can end Inequality in India with your help! To join the campaign, visit: inequality.oxfamindia.org

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