OxFam India releases new study report ‘Inequality kills’
- Oxfam India released the report titled ‘Inequality Kills’ on January 17, 2022, which reveals that COVID-19 pandemic has heightened economic inequalities across the world.
- Coronavirus pandemic showed that peoples’ life chances are directly linked to their access to wealth and healthcare, their positions of power in society, their racial and caste identities, and their geographic locations.
Key facts of the report
- Wealth of the world’s 10 richest men doubled since the pandemic began.
- Collective wealth of India’s 100 richest people hit a record high of INR 57.3 lakh crore (USD 775 billion) in 2021.
- The number of Indian billionaires grew from 102 to 142 during pandemic.
- 84 percent of households in the country suffered a decline in their income in a year. (Rich becoming more rich while poor becoming poorer).
- 98 of the richest Indians owns as much wealth as the bottom 552 million
- This Inequality led to the death of at least one person every four seconds.
- The pandemic has set gender parity from 99 years earlier to now 135 years.
- Since 1995, the top 1% have captured nearly 20 times more of global wealth than the bottom 50% of humanity.
- It is high time to take unparalleled action to combat unprecedented inequality in the wake of COVID-19
Source: Oxfam India