DAILY NEWS ANALYSIS

GS-III : S&T COVID-19

26 January, 2021
9 Min Read

Inequality Virus Report: Oxfam

Inequality Virus Report: Oxfam

Indian billionaires increased their wealth by 35% to ?3 trillion during the lockdown, ranking them behind their counterparts in U.S., China, Germany, Russia and France, says the “Inequality Virus Report” brought out by Oxfam, a non-profit organisation.
The rise in fortunes of the top 100 billionaires is enough to give every one of the 138 million poorest Indian people a cheque for ?94,045, the report released on the opening day of the World Economic Forum in Davos said.
The wealth of just the top 11 billionaires during the pandemic could easily sustain the MGNREGS or the Health Ministry for the next 10 years, it said underscoring the deepening inequalities due to COVID-19 where the wealthiest escaped the worst impact of the pandemic while the poor faced joblessness, starvation and death.

Mukesh Ambani, who emerged as the richest man in India and Asia, earned ?90 crore an hour during the pandemic when around 24% of the people in the country were earning under ?3,000 a month during the lockdown.
The increase in his wealth alone could keep 40 crore informal workers out of poverty for at least five months, the report said.
It recommended reintroducing the wealth tax and effecting a one-time COVID-19 cess of 4% on taxable income of over ?10 lakh to help the economy recover from the lockdown.
According to its estimate, a wealth tax on the nation’s 954 richest families could raise the equivalent of 1% of the GDP.
According to the report, only 6% of the poorest 20% have access to non-shared sources of improved sanitation, compared to 93.4% of the top 20%. As much as 59.6% of India’s population lived in a room or less, which meant that protocols necessary to prevent the spread of COVID-19 cannot be followed.
Till October, 32 crore students were hit by closure of schools, of whom 84% resided in rural areas and 70% attended government schools.
Oxfam India’s survey across five States said that close to 40% of teachers in government schools feared that a third of the students would not return once schools reopened. It was estimated that out- of-school rates would double in a year. Dalits, Adivasis and Muslims were likely to see a higher dropout rate. Girls were also most vulnerable as they were at risk of early and forced marriage, violence and early pregnancies, it noted.
Unemployment of women rose by 15% from a pre-lockdown level of 18%, which could result in a loss of India’s GDP of about 8% or ?15 trillion.
Women who were employed before the lockdown were also 23.5 percentage points less likely to be re-employed compared to men in the post lockdown phase.

Source: TH

Join Our Telegram

AP Govt vs State Election Commission

Status of Education in India during COVID-19

Pradhan Mantri Suryodaya Yojana

06 Feb, 24
SHARE

Recently, Prime Minister announced Pradhan Mantri Suryodaya Yojana under which 1 crore households will get rooftop solar power systems. India’s Status of Current Solar Capacity India currently stands at 4th place globally in solar power capacity. As per Ministry of New an

Foreign Contribution Regulation Act (FCRA)- NGO

06 Feb, 24
SHARE

The Foreign Contribution Regulation Act, 2010 (FCRA) registration of two prominent non-governmental organisations (NGOs) — Centre for Policy Research (CPR) and World Vision India (WVI) have been cancelled this month. What is FCRA? Key provisions of FCRA, 2010 Key aspects Description

Voice clone-AI

06 Feb, 24
SHARE

Voice clone fraud has been on the rise in India. AI voice cloning – It is the process of creating a synthetic replica of a person’s voice through machine learning and speech synthesis technology.It is called as voice deepfakesor audio deepfakes. Objective – To achieve a high level of na

Science communication- how to promote

06 Feb, 24
SHARE

Steps taken by India to promote Science Communication Publications and Information Directorate (PID) - An organisation under Council of Science and Industrial Research (CSIR) established in 1951 for publishing and disseminating scientific information in India. National science magazines- The PI

Universal Basic Income (UBI)- Analysis

05 Feb, 24
SHARE

Universal Basic Income (UBI) can strengthen welfare architecture and unlock the nation’s latent demographic potential. UBI - It is an income support mechanism typically intended to reach all or a very large portion of the population regardless of their earnings or employment status. Objective- To provide enough to co

Quick Links Testimonials FAQ

Crash Course

Regular Modules 2024

Mains

Optional

Inequality Virus Report: Oxfam

Pradhan Mantri Suryodaya Yojana

Foreign Contribution Regulation Act (FCRA)- NGO

Voice clone-AI

Science communication- how to promote

Universal Basic Income (UBI)- Analysis

DNA

06 Feb,2024

GS-III

PT Pickups

Toppers

Search By Date

Top Editorials

UPSC Courses

Saarthi Mentorship Programme

Important Tags

Articles:Geography And Environment

Articles: History Culture Society

Articles: Governance & National Issues

Articles: IR & IO

Articles: Economic Development & Economic Issues

Articles: S&T Internal Security

Articles: Ethics & Others

Articles: Others

Newsletter Subscription

SMS Alerts

Important Links