"It s time we demolish the convenient myth that tax cuts for the richest result in their wealth somehow trickling down to everyone else. Taxing the super-rich is the strategic precondition to reducing inequality and resuscitating democracy. Wealth Inequality in India: India s Richest 1% Own More Than 40% of Total Wealth, Says Oxfam 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, a new study showed on Monday.
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, a new study showed on Monday.
Oxfam International s annual inequality report said that if India s billionaires are taxed once at 2 per cent on their entire wealth, it would support the requirement of Rs 40,423 crore for the nutrition of malnourished in the country for the next three years.