1) India added 17 new billionaires last year, raising the number to 101 billionaires.
2) Indian billionaires’ wealth increased by INR 4891 billion —from INR 15,778 billion to over INR 20,676 billion. INR 4891 billion is sufficient to finance 85 per cent of the all states' budget on Health and Education.
3) 73 percent of the wealth generated last year went to the richest one percent, while 67 crore Indians who comprise the poorest half of the population saw one percent increase in their wealth.
4) In the last 12 months the wealth of this elite group increased by Rs 20,913 billion. This amount is equivalent to total budget of Central Government in 2017-18.
5) 37% of India’s billionaires have inherited (family) wealth. They control 51 per cent of the total wealth of billionaires in the country
6) Only four women billionaires in India and three of them inherited family wealth
7) Between 2018 till 2022, India is estimated to produce 70 new millionaires every day
8) Number of billionaires has increased from only 9 in 2000 to 101 in 2017
9) 51 billionaires out of the total 101 are 65 years or above and own Rs 10,544 billion of total wealth.
If we assume that in the next 20 years, at least Rs 10,544 billion will be passed on to the inheritors and on that if 30% inheritance tax is imposed, the Government can earn at least Rs 3176 billion. Rs 3176 billion sufficient to finance 6 crucial services--Medical & Public Health, Family Welfare, Water & Sanitation, Housing, Urban Development and Labour & Labour Welfare in all States.
10) Over the next 20 years, 500 of the world’s richest people will hand over $2.4 trillion to their heirs – a sum larger than the GDP of India, a country of 1.3 billion people.
11) In countries like India and the Philippines, at least one in every two workers in the garment sector are paid below the minimum wage (refer to Figure 9 in the report).
12) It would take 941 years for a minimum wage worker in rural India to earn what the top paid executive at a leading Indian garment company earns in a year.
13) It would take around 17.5 days for the best paid executive at a top Indian garment company to earn what a minimum wage worker in rural India will earn in their lifetime (presuming 50 years at work)
14) It would cost around Rs 326 million a year to ensure 14,764 minimum wage workers in rural India were paid a living wage. This is about half the amount paid out to wealth shareholders of a top Indian garment company.
15) India's top 10% of population holds 73% of the wealth.
Results of Oxfam Survey
Recommendations
Oxfam India is calling upon the Indian Government to act on growing inequality and create an equal India. Following are the recommendations:
1. Promote inclusive growth by ensuring that the income of the bottom 40% of the population grows faster than of the top 10% so that the gap between the two begins to close. This can be done by encouraging labour-intensive sectors that will create more jobs; investing in agriculture; and effectively implementing the social protection schemes that exist.
2. Seal the leaking wealth bucket by taking stringent measures against tax evasion and avoidance; taxing the super-rich by re-introducing inheritance tax, increasing wealth tax, reducing and eventually do away with corporate tax breaks; creating a more equal opportunity country by increasing public expenditure on health and education.
3. Bring data transparency, produce and make available high quality data on income and wealth. Regularly monitor the measures the government takes to tackle the issue of rising inequality.
Let’s fight inequality and together we’ll beat poverty for good.
Find out how Oxfam India is enabling communities by working to provide a life of dignity and equal opportunity for all.Get to know more about Oxfam India`s latest projects.
Read MoreMay 30, 2023 | Savvy
Mar 31, 2023 | Savvy
Mar 30, 2023 | Savvy
Mar 2, 2023 | Savvy
Jan 17, 2023 | Savvy
Mar 9, 2023 | Savvy
Dec 23, 2022 | Savvy
Dec 2, 2022 | Savvy
Nov 28, 2022 |
Nov 22, 2022 | Savvy
Nov 14, 2022 | Savvy
Oct 31, 2022 | mahika@oxfamindia.org
Oct 3, 2022 | Savvy
Sep 15, 2022 | Savvy
Aug 12, 2022 | Savvy
Aug 9, 2022 | Savvy
Jun 29, 2022 | Savvy
Jun 29, 2022 | Savvy
May 30, 2022 | Savvy
May 30, 2022 | Savvy
May 5, 2022 | Savvy
May 26, 2022 | Savvy
Mar 21, 2022 | Savvy
Feb 20, 2022 | Savvy
Feb 16, 2022 | Savvy
Jan 25, 2022 | Savvy
Jan 13, 2022 | Savvy
Jan 9, 2022 | Savvy
Dec 31, 2021 | Savvy
Jan 17, 2022 | Savvy
Dec 17, 2021 | admin
Dec 16, 2021 | Savvy
Dec 14, 2021 | Savvy
Feb 28, 2022 | Savvy
Oct 15, 2021 | Savvy
Oct 12, 2021 | Savvy
Oct 10, 2021 | Savvy
Oct 10, 2021 | Savvy
Oct 8, 2021 | Savvy
Oct 6, 2021 | Savvy
Oct 4, 2021 | Savvy
Sep 29, 2021 | Savvy
Oct 10, 2021 | Savvy
Sep 16, 2021 | Savvy
Sep 5, 2021 | Savvy
Sep 1, 2021 | Savvy
Sep 15, 2021 | Savvy
Aug 7, 2021 | Savvy
Jul 23, 2021 | Savvy
Jul 7, 2021 | Savvy
Jun 4, 2021 | Savvy
May 17, 2021 | Savvy
Jun 7, 2021 | Savvy
Apr 15, 2021 | Savvy
Apr 9, 2021 | Savvy
Apr 1, 2021 | Anisha
Mar 14, 2021 | Savvy
Mar 12, 2021 | Savvy
Mar 2, 2021 | Savvy
Feb 19, 2021 | Savvy
Feb 14, 2021 | Savvy
Jan 12, 2021 | Savvy
Jan 12, 2021 | Savvy
Dec 23, 2020 | Savvy
Dec 3, 2020 | Savvy
Jan 4, 2021 | radhika
Apr 1, 2021 | radhika
Dec 23, 2020 | radhika
Sep 30, 2020 | Savvy
Sep 30, 2020 | Savvy
Sep 30, 2020 | Savvy
Sep 30, 2020 | Savvy
Aug 25, 2020 | Savvy
Sep 30, 2020 | radhika
Aug 9, 2020 | Savvy
Aug 5, 2020 | Savvy
Aug 21, 2020 | radhika
Aug 4, 2020 | Savvy
Sep 30, 2020 | radhika
Sep 30, 2020 | radhika
Aug 1, 2020 | Savvy
Jul 17, 2020 | Savvy
Jul 15, 2020 | Savvy
Mar 5, 2021 | Savvy
Jun 30, 2020 | Savvy
Jun 30, 2020 | radhika
Jun 30, 2020 | Savvy
Jun 30, 2020 | Savvy
Jun 30, 2020 |
Jun 30, 2020 | radhika
Jun 24, 2020 |
Jun 24, 2020 |
Jun 30, 2020 |
Jun 15, 2021 |
Jun 30, 2020 | Savvy
Jun 30, 2020 | radhika
Jul 29, 2020 | Savvy
May 31, 2020 | Savvy
Jul 29, 2020 | Savvy
May 31, 2020 | Savvy
May 31, 2020 | Savvy
May 31, 2020 | Savvy
May 28, 2020 | Savvy
May 31, 2020 | radhika
May 31, 2020 |
May 31, 2020 | radhika
May 31, 2020 | radhika
May 31, 2020 | Animesh Prakash
May 31, 2020 | radhika
May 31, 2020 | radhika
Jun 3, 2020 | radhika
Jun 3, 2020 | Anisha
Jun 3, 2020 | radhika
Jun 3, 2020 | radhika
Dec 5, 2019 | radhika
Jun 3, 2020 | radhika
Dec 18, 2019 | radhika
Dec 5, 2019 | radhika
Dec 5, 2019 | radhika
Oct 23, 2019 | Anisha
Dec 5, 2019 | radhika
Oct 9, 2019 | radhika
Oct 9, 2019 | radhika
Dec 5, 2019 | radhika
Dec 18, 2019 | radhika
Sep 25, 2019 | radhika
Dec 18, 2019 | radhika
Sep 25, 2019 | radhika
Sep 25, 2019 | radhika
Nov 21, 2019 | radhika
Sep 19, 2019 | radhika
Dec 5, 2019 | radhika
Feb 20, 2020 | radhika
Dec 18, 2019 | radhika
Dec 5, 2019 | Anisha
Aug 19, 2019 | radhika
Dec 18, 2019 | radhika
Dec 18, 2019 | radhika
Dec 5, 2019 | radhika
Dec 5, 2019 | radhika
Dec 18, 2019 | radhika
Dec 18, 2019 | Anisha
Dec 5, 2019 | radhika
Aug 1, 2019 | radhika
Jul 31, 2019 | radhika
Dec 5, 2019 | radhika
Dec 18, 2019 | radhika
Dec 5, 2019 | radhika
Dec 5, 2019 | radhika
Dec 5, 2019 | Anisha
Dec 5, 2019 | radhika
Dec 18, 2019 | radhika
Dec 5, 2019 | radhika
Jun 27, 2019 | radhika
Jun 19, 2019 | radhika
Dec 18, 2019 | Anisha
Sep 27, 2019 | Anisha
Jun 19, 2019 | Anisha
Dec 18, 2019 | Anisha
May 27, 2019 | sanya
May 24, 2019 | Anisha
Jul 23, 2020 | ursila
Sep 9, 2019 | ursila
Sep 9, 2019 | Anisha
Sep 9, 2019 | ursila
May 13, 2019 | ursila
Sep 30, 2019 | ursila
Sep 19, 2022 | ursila
Sep 10, 2019 | ursila
Oct 24, 2019 | ursila
Oct 7, 2019 | ursila
Oct 24, 2019 | ursila
Feb 20, 2020 | ursila
Nov 11, 2019 | ursila
Oct 30, 2019 | ursila
Jun 3, 2020 | ursila
Nov 18, 2019 | ursila
Sep 27, 2019 | ursila
Oct 7, 2019 | ursila
May 31, 2020 | ursila
Oct 24, 2019 | ursila
Oct 24, 2019 | ursila
Oct 24, 2019 | ursila
Oct 24, 2019 | ursila
Apr 5, 2019 | ursila
Nov 18, 2019 | Anisha
Sep 27, 2019 | ursila
Feb 20, 2020 | ursila
Sep 9, 2019 | ursila
Oct 7, 2019 | ursila
Oct 7, 2019 | ursila
Sep 23, 2019 | ursila
Oct 24, 2019 | Anisha
Sep 10, 2019 | ursila
Sep 27, 2019 | admin
Oct 24, 2019 | ursila
Oct 31, 2019 | oxfamadmin
Oct 7, 2019 | ursila
Apr 5, 2019 | ursila
Feb 20, 2020 | admin
Sep 9, 2019 | ursila
Apr 5, 2019 | admin
Sep 9, 2019 | ursila
Oct 7, 2019 | admin
Oct 7, 2019 | admin
Oct 24, 2019 | admin
Oct 24, 2019 | admin
Apr 5, 2019 | admin
Oct 24, 2019 | admin
Oct 7, 2019 | admin
Oct 24, 2019 | admin
Apr 5, 2019 | admin
Sep 27, 2019 | admin
Oct 24, 2019 | ursila
Apr 5, 2019 | Anisha
Oct 24, 2019 | Anisha
Sep 27, 2019 | Anisha
Sep 12, 2022 | admin
Apr 5, 2019 | Anisha
Oct 7, 2019 | ursila
Oct 1, 2019 | Anisha
Oct 30, 2019 | Anisha
Oct 7, 2019 | Anisha
Oct 7, 2019 | ursila
Oct 24, 2019 | Anisha
Apr 5, 2019 | Anisha
Sep 10, 2019 | Anisha
Oct 7, 2019 | ursila
Oct 24, 2019 | ursila
Oct 7, 2019 | ursila
Oct 24, 2019 | ursila
Oct 24, 2019 | ursila
Oct 30, 2019 |
Oct 7, 2019 | ursila
Oct 7, 2019 | Anisha
Oct 7, 2019 | Anisha
Oct 1, 2019 | Anisha
Oct 7, 2019 | Anisha
Sep 27, 2019 | ursila
Oct 24, 2019 | ursila
Oct 1, 2019 | ursila
Nov 14, 2019 | ursila
Oct 24, 2019 | ursila
Oct 1, 2019 | Anisha
Oct 24, 2019 | Anisha
Oct 7, 2019 | Anisha
Oct 7, 2019 | ursila
Apr 5, 2019 | ursila
Nov 18, 2019 | Anisha
Sep 9, 2019 | Anisha
Sep 10, 2019 | Anisha
Nov 21, 2019 | Anisha
Oct 7, 2019 | Anisha
Sep 10, 2019 | Anisha
Sep 27, 2019 | ursila
Sep 20, 2022 | Anisha
Nov 11, 2019 | Anisha
Oct 7, 2019 | Anisha
Oct 24, 2019 | Anisha
Oct 1, 2019 | Anisha
Sep 10, 2019 | Anisha
Oct 24, 2019 | Anisha
Oct 30, 2019 | Anisha
Oct 1, 2019 | ursila
Oct 24, 2019 | ursila
Oct 30, 2019 | ursila
Oct 30, 2019 | Anisha
Oct 1, 2019 | ursila
Sep 27, 2019 | Anisha
Oct 7, 2019 | Anisha
Sep 10, 2019 | oxfamadmin
Oct 24, 2019 | ursila
Sep 27, 2019 | ursila
Nov 18, 2019 | Anisha
Oct 7, 2019 | ursila
Oct 24, 2019 | ursila
Oct 7, 2019 | ursila
Sep 10, 2019 | ursila
Oct 7, 2019 | ursila
Nov 11, 2019 | Anisha
Oct 24, 2019 | ursila
Nov 11, 2019 | ursila
Oct 24, 2019 | oxfamadmin
Oct 1, 2019 | Ravi
Oct 1, 2019 | Ravi
Sep 27, 2019 | Ravi
Oct 7, 2019 | Anisha
Oct 7, 2019 | oxfamadmin
Oct 24, 2019 | Anisha
Sep 10, 2019 | Anisha
Oct 7, 2019 | Ravi
Sep 27, 2019 | Ravi
Dec 5, 2019 | Anisha
Oct 24, 2019 | Avantika
Jan 9, 2020 | Avantika
Oct 24, 2019 | Avantika
Oct 24, 2019 | Avantika
Oct 1, 2019 | Avantika
Oct 1, 2019 | Avantika
Oct 24, 2019 | Avantika
Sep 10, 2019 | Avantika
Nov 18, 2019 | Avantika
Sep 9, 2019 | Avantika
Sep 9, 2019 | Avantika
Sep 27, 2019 | Avantika
Sep 27, 2019 | Avantika
Oct 24, 2019 | Avantika
Oct 24, 2019 | Avantika
Sep 10, 2019 | Avantika
May 13, 2019 | Avantika
Oct 1, 2019 | Avantika
Apr 5, 2019 | Avantika
Apr 5, 2019 | oxfamadmin
Oct 7, 2019 | Avantika
Oct 1, 2019 | Avantika
Nov 14, 2019 | Avantika
Sep 27, 2019 | Ravi
Oct 24, 2019 | Avantika
Oct 1, 2019 | oxfamadmin
May 27, 2020 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Dec 5, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Jun 12, 2020 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 3, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Sep 9, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 9, 2019 | oxfamadmin
Nov 18, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Nov 18, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Nov 6, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Jan 9, 2020 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 30, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Sep 9, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Dec 16, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Nov 18, 2019 | oxfamadmin
Apr 5, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Feb 20, 2020 | ursila
Apr 5, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Jan 9, 2020 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Nov 21, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 30, 2019 | oxfamadmin
Oct 30, 2019 | oxfamadmin
Nov 15, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Jan 9, 2020 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Dec 16, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 9, 2019 | oxfamadmin
Nov 18, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Apr 5, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 7, 2019 | Avantika
Oct 30, 2019 | oxfamadmin
Jan 9, 2020 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Feb 20, 2020 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Sep 30, 2019 | oxfamadmin
Sep 30, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 3, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Dec 16, 2019 | oxfamadmin
Apr 5, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 9, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 27, 2019 | oxfamadmin
Oct 30, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 3, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin
Dec 5, 2019 |
Nov 18, 2019 |
Oct 24, 2019 | oxfamadmin
Sep 9, 2019 |
Oct 7, 2019 |
Oct 24, 2019 |
Sep 27, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Nov 15, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Sep 10, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Oct 7, 2019 | oxfamadmin
Oct 1, 2019 | oxfamadmin
Oct 30, 2019 | oxfamadmin
Oct 24, 2019 | oxfamadmin