Oxfam / 1% of the country’s wealth is 4 times the wealth of 70% of the population, all billionaires have more than a year’s worth of wealth
new Delhi. The wealth of 1% of the rich of the country is four times more than the total wealth of 95.3 crore people i.e. 70% of the population. The wealth of all Indian billionaires exceeds the country’s one-year budget. These figures have been revealed in the report ‘Time to Care’ released on Monday by Oxfam, an organization working to end poverty in the world.
Number of billionaires in the world doubled in last 10 years
According to Oxfam’s report, the wealth of the world’s 2,153 billionaires is more than the total wealth of 4.6 billion people, or 60% of the world’s population. The report said that the situation of too much global inequality is shocking. The number of billionaires has doubled in the last 10 years, although their net worth has decreased in the last year. The CEO of Oxfam India, Amitabh Behar, says that the gap between rich and poor cannot be eradicated without policies to end inequality. Some countries are committed to this.
Expectation to discuss financial inequality at the World Economic Forum
Oxfam has released a ‘Time to Care’ report before the ‘World Economic Forum’ (WEF) begins. The five-day Global Summit ‘WEF’ will begin in Davos from Tuesday. It will involve 119 billionaires from all over the world. Along with this, veterans from politics and other fields will also take part. The summit will discuss the ‘sustainable and cohesive world’. Income and gender inequality are also expected to be discussed during this period. The Global Risk Report of WEF has also warned that pressure on the global economy will increase due to continuing financial inequality and macroeconomic risks in 2019.
