India’s ‘obscene inequality’ may lead to ‘social collapse’, report says

[Beardman]

India’s ‘obscene inequality’ may lead to ‘social collapse’, report says

Oxfam review finds 1% of country’s population holds more than half of its wealth

Wed, Jan 23, 2019, 19:01 Updated: Wed, Jan 23, 2019, 19:02

Rahul Bedi in New Delhi

Dhobi Ghat in Mumbai, India. File photograph: Marcos Freire/EyeEm/Getty Images

 

 

 

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A mere 1 per cent of India’s population of more than 1.3 billion holds more than half the country’s wealth, a report by Oxfam has revealed.

Released at the World Economic Forum in Davos on Monday, the report, titled Public Good or Private Wealth?, disclosed that the financial disparity between India’s rich and poor was growing exponentially, adversely impacting fundamental rights and societal equilibrium.

According to the report, 10 per cent of India’s population controls 77.4 per cent of the country’s national wealth, and the wealth of the top 1 per cent in 2018 had increased by 39 per cent.

The wealth increase for the majority of Indians was just 3 per cent.

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The Oxfam analysis said that 18 new dollar billionaires had emerged in Indiain 2018 . “If this obscene inequality between the top 1 per cent and the rest of India continues, then it will lead to a complete collapse of the social and democratic structure of this country,” said Oxfam’s international executive director Winnie Byanyima.

She said it was “morally outrageous” that a handful of wealthy individuals were amassing India’s wealth, while the poor continued to struggle to secure their next meal or pay for their children’s medicines.

The report also noted that Indian women and girls and the lower castes were the hardest hit by the growing economic disparity. According to Oxfam, the life expectancy of a low-caste woman was almost 15 years less than that of a woman belonging to the upper caste.

Oxfam advocates getting India’s richest 1 per cent to pay 0.5 per cent extra tax on their wealth and assets, to help raise overall government health spending by as much as 50 per cent.

The NGO said that the combined federal and provincial budget for public health, sanitation and water supply was less than the wealth – €34.5 billion – of the country’s richest man, Mukesh Ambani. Mr Ambani heads Reliance Industries, a Fortune 500 company with interests in oil, gas and telecommunications.

 

“The survey reveals how governments are exacerbating inequality by underfunding public services like healthcare and education on one hand, while undertaxing corporations and the wealthy, and failing to clamp down on tax dodgers on the other,” Oxfam India head Amitabh Behar said.

[pottipotato]

first, it won't lead to social collapse, because activists will always find a way to extend the collapse deadline forever, by convincing the govt to initiate this and that scheme.

most Indians are basically very tolerant of hardships, but the neo rich in India may not be. The social collapse will happen not because of inequality, but when the neo rich's income sources dry up. One such near collapse you saw was in 2013-14 that led to election of Modi.

now its business as usual. the second round of collapse will elect an even worse clueless fcuk as the pm.

[sattipandu]

32 minutes ago, pottipotato said:

first, it won't lead to social collapse, because activists will always find a way to extend the collapse deadline forever, by convincing the govt to initiate this and that scheme.

most Indians are basically very tolerant of hardships, but the neo rich in India may not be. The social collapse will happen not because of inequality, but when the neo rich's income sources dry up. One such near collapse you saw was in 2013-14 that led to election of Modi.

now its business as usual. the second round of collapse will elect an even worse clueless fcuk as the pm.

Okay we get it

[pottipotato]

5 minutes ago, sattipandu said:

Okay we get it

No, you dont. if you did, this db should be shut down, or I should be shut down.

basically the neo-rich (this db) keep yapping about how they are the good ones. so you don't get it. my job on earth is not yet over.

[pottipotato]

this db is obscene. even when people don't use obscenities. especially when they don't use obscenities.

[sattipandu]

1 minute ago, pottipotato said:

No, you dont. if you did, this db should be shut down, or I should be shut down.

basically the neo-rich (this db) keep yapping about how they are the good ones. so you don't get it. my job on earth is not yet over.

 Ayyyaaaa avathaarapurushaaaa....

KaaaranaJanmudaaa....

We get it 

Down down Bodi

Down down DB

[pottipotato]

3 minutes ago, sattipandu said:

 We get it

no you don't. if you did, you wouldn't be in this db.

[sattipandu]

1 minute ago, pottipotato said:

no you don't. if you did, you wouldn't be in this db.

Okay I get it

Make you appeal to DB admin to close it down

[pottipotato]

3 minutes ago, sattipandu said:

Okay I get it

Make you appeal to DB admin to close it down

I prefer everyone voluntarily leaving it.

[jobseeker1]

37 minutes ago, pottipotato said:

I prefer everyone voluntarily leaving it.

You need @Private

[sattipandu]

1 hour ago, pottipotato said:

I prefer everyone voluntarily leaving it.

Evaduuu kastapadakunda ala aypovaali anamaata

Okay we get it 

[pootareku]

3 hours ago, pottipotato said:

first, it won't lead to social collapse, because activists will always find a way to extend the collapse deadline forever, by convincing the govt to initiate this and that scheme.

most Indians are basically very tolerant of hardships, but the neo rich in India may not be. The social collapse will happen not because of inequality, but when the neo rich's income sources dry up. One such near collapse you saw was in 2013-14 that led to election of Modi.

now its business as usual. the second round of collapse will elect an even worse clueless fcuk as the pm.

OMG why don’t you see a psychiatrist before you go out of your control, Iam serious you are suffering with some mental disorder 

[pootareku]

3 hours ago, pottipotato said:

first, it won't lead to social collapse, because activists will always find a way to extend the collapse deadline forever, by convincing the govt to initiate this and that scheme.

most Indians are basically very tolerant of hardships, but the neo rich in India may not be. The social collapse will happen not because of inequality, but when the neo rich's income sources dry up. One such near collapse you saw was in 2013-14 that led to election of Modi.

now its business as usual. the second round of collapse will elect an even worse clueless fcuk as the pm.

You can’t achieve anything here in DB. Sitting on comfy couch 

[LordOfMud]

3 hours ago, pottipotato said:

this db is obscene. even when people don't use obscenities. especially when they don't use obscenities.

[pottipotato]

2 hours ago, pootareku said:

OMG why don’t you see a psychiatrist before you go out of your control, Iam serious you are suffering with some mental disorder 

let me offer you this amazing insight into Kyrgios (a tennis player), from a canadian newspaper.

https://www.theglobeandmail.com/sports/tennis/article-nick-kyrgios-is-trying-to-get-fired-from-tennis-why-wont-someone-do/

Kyrgios isn’t a behavioural problem for tennis (at least, not just that). He’s a philosophical one. The more he says these things out loud, the more uncomfortable it gets for his colleagues. The personal attacks get the headlines, but it’s the structural stuff that lands hardest.

Look at the crap you post, before you do detailed analysis of mine, which you are not even equipped to. i have a visceral hatred of most people who pretend like they worked their arse off to achieve their position in life. I have that opinion after I myself have made truckloads of money that I wouldn't be able to spend even if I engage in all vices in the world for the rest of my life.

I just hate the bubble people live in, hate the smugness with which they announce their wisdom. and this db is dumb enough to allow me to pour that hatred here. Fcuk you all losers.

ps. I know everything I write mostly goes over your head. and that's exactly why I do it here.

more ps. stop acting like you've uncovered the secrets to great living. you've just been lucky.

more and more ps. fcuk off.