Billionaires Recovered All Their Lost Wealth in Lockdown But How?
India’s top 100 billionaires have seen their fortunes increase by Rs 12,97,822 crores since March 2020
With the entire country in a lockdown since March, with malls, offices, schools shut, salaries being slashed, people being fired from their jobs, migrants walking back home for want of employment and food, it felt like we are all in this pandemic together.
However, a recent report by Oxfam states that India’s wealthiest escaped the worst of the pandemic and actually got richer during the lockdown!
Sample this: India’s top 100 billionaires have seen their fortunes increase by Rs 12,97,822 crore since March, enough to give every one in India's 138 million-strong population a cheque of Rs 94,045.
The pandemic has pinched more than just the pockets of many Indians. It has also revealed glaring cracks in our healthcare system, access to education, the digital divide and most importantly, how the pandemic has NOT impacted us equally.
So, how did billionaires continue to get richer during a pandemic? And how has income inequality aggravated the general state of inequality in India and is a reform of our tax code the answer? Tune in to know how.
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