The richest in India has more than doubled from their wealth during the Covid-19 crisis which destroyed the country and deteriorating poverty, and the government had to review its policies to distribute wealth, according to Global Oxfam Davos’s report in 2022.

The nation added 40 billionaires to 142 years ago, when the second wave of infection defeated his health infrastructure and encouraged the crematorium and the reason for the funeral to destroy points. They have almost $ 720 billion in combined wealth, more than 40% of the poorest population, the group said in a report on increasing inequality published Monday.

Wealth has surged globally during the pandemic as the value of everything from stock prices to Crypto and commodities has soared. 500 richest people in the world add more than $ 1 trillion to their net worth last year, according to Bloomberg Billionaires index. India, where urban unemployment rose as high as 15% last May and deteriorating food insecurity, now counting more billionaires than France, Sweden and Switzerland combined, Oxfam said.

State policy including the elimination of wealth taxes in 2016, steep cuts in company levies and indirect tax increases are one of the factors that helps make rich people richer, while the national minimum wage remains in 178 rupees ($ 2.4) a day since then 2020 , Indian supplements global reports say. Reducing federal funding on local administration amid the privatization that develops in the health and education sectors has increased inequality. This nation is home to a quarter of people who lack world nutrition, Oxfam said, quoting a world food program.

“Unfortunately, the pro-government taxation policy of pro-rich, also seizes important fiscal countries in India – both of them are very damaging in the context of the Covid-19 crisis,” the report said.

Oxfam recommends the government imposing an additional cost of 1% at 10% of the richest populations to invest in health and education. It notes that the fortune of the 10 richest Indian billionaires will be enough to fund the school and higher education of the nation’s children for more than 25 years.

With 84% of households suffering from a decrease in income at the beginning of the pandemic, India is in line with the African sub-Saharan accounting for the highest increase in poverty. By 2020, the poor in South Asian countries doubled 134 million, more than just Pew research, Oxfam said. Daily wage workers, entrepreneurs and unemployed commit suicide, he added, citing official crime data.

The report also highlighted that Pandora paper leaked – a collection of 11.9 million documents detailing 29,000 offshore companies and private trustees created globally for tax evasion – found that more than 380 Indians had foreign and domestic assets that were not too rupee.

Gautam Adani has a surge in the largest wealth in India last year and the fifth largest in the world, according to the Bloomberg billionaire index. He added $ 42.7 billion for his wealth, which now reached almost $ 90 billion. Mukesh Ambani’s net power rose $ 13.3 billion in 2021, and he is now worth $ 97 billion.