DO YOU KNOW HOW MUCH MUKESH AMBANI EARNED PER HOUR DURING PANDEMIC? - REPORT ON RICH GETTING RICHER...!

An Oxfam report says the COVID-19 pandemic has further intensified the existing income inequalities between India’s billionaires and unskilled workers.

“India's 100 top billionaires have seen fortunes increase by Rs 12,97,822 crore since March last year, which is enough to give 13.8 crore poorest Indians cheques of Rs 94,045 each," the Oxfam report said.

The report titled ’The Inequality Virus’ said that the wealth India’s billionaires has increased by an approximate 35 percent during the lockdown. It further pointed out that 84 percent houses in India suffered varying degrees of income losses.

About 1.7 lakh people lost their jobs in April 2020 alone, the report cited. It was in August 2020, it was announced that Reliance Industries’ Chairman Mukesh Ambani has become the fourth richest man on the planet.

In its report, Oxfam said: “It would take an unskilled worker 10,000 years to make what Ambani made in an hour during the pandemic... and three years to make what Ambani made in a second.” 

According to the report, Ambani earned Rs 90 crore per hour during the coronavirus pandemic. "Data shows what Ambani earned during the pandemic would keep the 40 crore informal workers that are at risk of falling into poverty due to Covid-19 above the poverty line for at least five months," the report said.

It added: "Worldwide, billionaires' wealth increased by a staggering $3.9 trillion between 18 March and 31 December, 2020... at the same time it is estimated that the total number of people living in poverty could have increased by between 200 million and 500 million.”