Mainstream
Mainstream, VOL LIX No 7, New Delhi, January 30, 2021
How Inequality Increased Greatly in Covid Times | Bharat Dogra & Kumar Gautam
Friday 29 January 2021
by Bharat Dogra & Kumar Gautam
In the initial days of Covid-19 pandemic, it was widely believed that this will have an equal impact on all sections of people, but it soon became evident, particularly after the introduction of lockdowns, that the pandemic is likely to have a much more serious impact on poorer and weaker sections of societies across the globe. As Antonio Guterres, the United Nations Secretary General said:
“The COVID-19 pandemic has played an important role in highlighting growing inequalities. It exposed the myth that everyone is in the same boat. While we are all floating on the same sea, it’s clear that some are in superyachts, while others are clinging to the drifting debris.”
Jan 27 2021, 8:14 AM
January 27 2021, 8:14 AM
January 27 2021, 8:14 AM
The spectre is stark. Yes, the Indian economy, high-frequency indicators suggest, is pulling out of contraction. For sure, Goods and Services Tax collections show an uptick but the demand outlook is uncertain for many contributing sectors. Closures rendered over 30 million jobless and unemployment as per CMIE data was over 9% though has since moderated. A large part of the face-to-face economy, which hosts micro-enterprises and wage .
The spectre is stark. Yes, the Indian economy, high-frequency indicators suggest, is pulling out of contraction. For sure, Goods and Services Tax collections show an uptick but the demand outlook is uncertain for many contributing sectors. Closures rendered over 30 million jobless and unemployment as per CMIE data was over 9% though has since moderated. A large part of the face-to-face economy, which hosts micro-enterprises and wage earners, is stranded between induced coma and v
Address inequality worsened by COVID
A report claims that India’s 100 top billionaires increased their wealth by nearly Rs 13 lakh crore during the pandemic
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Half-baked knowledge based on some random readings is potentially a weapon of wealth destruction in the market (Express Illustrations)
The annual Oxfam Report, a contrarian view on growing inequalities released before the World Economic Forum in Davos, is a treatise this year on how the pandemic has served the super-rich. The report claims that India’s 100 top billionaires increased their wealth by nearly Rs 13 lakh crore during the pandemic, enough to give each of the 138 million poorest Indians a cheque for Rs 94,045.
Billionaires saw wealth rise by 3.9 trillion dollars between March 18 and Dec 31 last year, Oxfam report published at WEF’s virtual Davos Agenda reveals