A new study on Monday showed that the richest 1% in India now own more than 40% of the country’s total wealth, while the bottle half of the population together share just 3% of wealth. The rights group Oxfam International has released the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos. It said that taxing India’s ten richest at 5% can fetch entire money to bring children back to school. The report is titled ‘Survival of the Richest’. “A one-off tax on unrealized gains from 2017–2021 on just one billionaire, Gautam Adani, could have raised ₹1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year,” the report read. In this episode of the Editorial, our Managing Editor Mr Sujit Nair discusses whether taxing the Rich is the best solution to end income inequality in the country.
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