Highlights

  • Oxfam: female workers earned only 63 paise for every 1 rupee a male worker earned
  • Oxfam said the total number of billionaires in India increased from 102 in 2020 to 166 in 2022

Latest news

Usain Bolt fires his Business Manager after Jamaica Fraud case

Usain Bolt fires his Business Manager after Jamaica Fraud case

Sukhoi, Mirage fighter jets crash: what we know so far

Sukhoi, Mirage fighter jets crash: what we know so far

Beetroot juice is better than workout supplements according to a study

Beetroot juice is better than workout supplements according to a study

‘Mission Majnu’ bash: Sidharth Malhotra, Rashmika Mandanna are all smiles as they party together

‘Mission Majnu’ bash: Sidharth Malhotra, Rashmika Mandanna are all smiles as they party together

Brighton midfielder Moises Caicedo confirms he wants to leave the club

Brighton midfielder Moises Caicedo confirms he wants to leave the club

India's richest 1% own more than 40% of total wealth: Oxfam

Since the pandemic begun to Nov 2022, billionaires in India have seen their wealth surge by 121 per cent or Rs 3,608 crore per day in real terms: report

According to a report, the richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth.

Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting, rights group Oxfam International said "Taxing the top 100 Indian billionaires at 2.5 per cent, or taxing the top 10 Indian billionaires at 5 per cent would nearly cover the entire amount required to bring the children back into school,".

"A one-off tax on unrealized gains from 2017–2021 on just one billionaire, Gautam Adani, could have raised Rs 1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year," it added.

Oxfam India urged the Union finance minister to introduce one-off solidarity wealth taxes and windfall taxes to end crisis profiteering. It also demanded a permanent increase in taxes on the richest 1 per cent and especially raise taxes on capital gains, which are subject to lower tax rates than other forms of income.

Up Next

India's richest 1% own more than 40% of total wealth: Oxfam

India's richest 1% own more than 40% of total wealth: Oxfam

SEBI increases scrutiny of Adani Group; shares plunge further

SEBI increases scrutiny of Adani Group; shares plunge further

Budget 2023: What does the middle-class want

Budget 2023: What does the middle-class want

Budget 2023: What can taxpayers expect?

Budget 2023: What can taxpayers expect?

Bloodbath on Dalal Street, Adani stocks collapse

Bloodbath on Dalal Street, Adani stocks collapse

Congress demands detailed investigation by SEBI, RBI into Hindenburg charges against Adani Group

Congress demands detailed investigation by SEBI, RBI into Hindenburg charges against Adani Group

More videos

Adani says examining legal options against Hindenburg; US firm stands by its 106-page report

Adani says examining legal options against Hindenburg; US firm stands by its 106-page report

Budget 2023: What homebuyers can expect?

Budget 2023: What homebuyers can expect?

Elon Musk is now Mr. Tweet on Twitter

Elon Musk is now Mr. Tweet on Twitter

IBM cuts 3,900 jobs as tech layoffs continue

IBM cuts 3,900 jobs as tech layoffs continue

Budget 2023: Budget terms explained; Cess & Revenue Deficit

Budget 2023: Budget terms explained; Cess & Revenue Deficit

 Budget 2023: Tax & Non-tax revenue; Key terms explained

Budget 2023: Tax & Non-tax revenue; Key terms explained

Netflix's new co-CEOs confirm the end of password sharing

Netflix's new co-CEOs confirm the end of password sharing

Tech layoffs: Indian IT professionals now jobless scrambling for options to stay in the US

Tech layoffs: Indian IT professionals now jobless scrambling for options to stay in the US

Budget 2023: Fiscal deficit, direct & indirect tax; Key terms explained

Budget 2023: Fiscal deficit, direct & indirect tax; Key terms explained

Report says 88% young Indians are looking for a job change in 2023

Report says 88% young Indians are looking for a job change in 2023

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.