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INDIA | Increasing Gap Between Rich and Poor in India Denounced

New Delhi, Jan 22 (Prensa Latina) One percent of India''s population owns 73 percent of wealth generated by the South Asian giant in 2017, according to research published today in the national media.
A survey carried out by the international organization Oxfam presents a worrying image of the increasing inequity in incomes in this nation, as last year's data showed that the richest one percent owned 58 percent of the total.

The increase in capital reached by the wealthiest sector of India over the last 12 months is equivalent to the total budget of the New Delhi government during the fiscal year 2017-18, wrote Oxfam.

The NGO highlights that the poorest 67 million nationals barely saw their incomes increase.

A rural worker here with minimum salary would wait 941 years to make the same amount than a well paid executive

in 12 months, denounced the research.

It is alarming that benefits of economic growth in the country continue to concentrate in a few hands, pointed director of Oxfam-India, Nisha Agrawal.

The situation is also gloomy worldwide, where 82 percent of the wealth generated last year went to the hands of the richest one percent, while 3.7 billion people did not see their capital grow.

'The boom of multimillionaires is not a sign of a prosperous economy, but a symptom of the failure of the economic system', denounced director of Oxfam, Winnie Buyanyima yesterday, when whe presented the report titled 'Reward work, not wealth'.

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Last modified onMonday, 22 January 2018 15:34
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