Wealth of richest 98 same as bottom 552 million, says Oxfam report

4% tax on the wealth can fund mid-day meal for 17 years

India’s richest families saw their wealth reach a record high in 2021, even as 84 per cent of Indian households saw an income decline amid the pandemic, according to a report from non-profit Oxfam India titled 'Inequality Kills'. It said the richest 98 Indians own the same wealth as the bottom 552 million people.

The number of Indian billionaires grew during the year from 102 to 142, according to the report published ahead of the World Economic Forum's Davos Agenda. It called for higher taxation on the richest 10 per cent of the Indian population to help fund measures