One of Asia’s topmost industrialists and billionaires, Mukesh Ambani added a huge net worth in his fortune during the pandemic. Not only he but the world’s all the top leaders’ added fortune to their wealth during the pandemic. Out of them, the top 10 billionaires added almost $1 trillion to their net worth. In contrast, the common people have only messed up economically during the pandemic. They lost jobs, suffered economic slowdown, and succumbed to the pandemic like never before! Now, the question is how these billionaires are gaining so much even during such tough times?
Ambani’s one second of earning is equal to an unskilled labour’s 3 years’ of earning
A report by Oxfam says that the amount that Mukesh Ambani earned in one second during the pandemic is so much that unskilled labor will take 3 years to earn. It means the amount earned in one hour would take the labor almost 10000 years to earn the same. It is surprising to see this variation as most of the people of the nation are recovering from an economic jolt due to the pandemic and the lockdown whereas these billionaires are adding so much wealth to their existing fortune. India has a total of almost 102 billionaires and all of them have collectively increased their wealth by almost 35% during the pandemic period.
Mumbai, Delhi, and Bengaluru counts for the most number of billionaires in the country
Out of all the billionaires in India, the most numbers belong from Mumbai. While 38 billionaires come from Mumbai, 18 comes from Delhi and almost 12 come from Bengaluru. But even though these super-rich people have too much money in their names, they cannot compete with the world’s top richest individuals, the owner of Amazon, Jeff Bezos, and tesla’s Elon musk. If the wealth of the top 100 rich people from India is distributed amongst the 13.8 crores below poverty level people in the country, then also each person will get approximately 94000 rupees. Now that’s a whopping dissimilarity between the rich and the poor!
India’s economic recovery plan on a boost
Though India has suffered a major jolt in its economy during the lockdown, the political leaders and economists are hopeful about its recovery in the next fiscal year. With proper finance management, India can see growth in its GDP rate soon and that will surely benefit the entire nation aggregately. The billionaires on the other hand must contribute a bit from their wealth also to balance the economic condition of the country by shelling out financial schemes for the benefit of the poor.
The PolicyTimes suggestion
- Some sections of society are calling the entire pandemic a “plan” by the billionaires and the world political leaders. And day by day we are getting more evidence of this as the wealth of these billionaires keep on increasing. The government must bring out a positive outcome from this and implement some Covid cess upon these billionaires that would transfer a handsome amount of wealth into the welfare of the poor people. This shall help balance the economic situation of the country in the coming years.