Recently a report has been issued by International Authority Group Oxfam, in which the uneven distribution of wealth in the world has been mentioned, this report was released in the name of 'Reward Work Not Wealth'.
The report titled 'Rounded Work Not Wealth' means that work needs to be rewarded, not money. This report also shows that it will be a difficult task to eliminate or reduce the way the inequality is increasing. Above all, this report also reveals the difference of opinion with the women. It is worth mentioning that in the report, there are 9 billionaires in every 10 billionaires in India.
Conclusions of the report released by Oxfam regarding the inequitable distribution of wealth:
At the global level, 82 percent of the money that was created last year went to the world's richest one percent population.
This situation has been more or less in India as well. In the last year, 73 percent of the total wealth generated was accounted for only 1 percent of the wealthy Indians.
It was reported in last year that one percent of the country's wealthiest people have 58 percent of the total wealth of the country.
Due to this, in the last one year only one percent of the wealth of wealthy people increased by Rs 4.89 lakh crore. This amounting to Rs 4.89 lakh crore is almost equal to the amount of education and health budget of India.
The total wealth of billionaires in India has reached almost 21 lakhs crores, which is equivalent to the central budget of the country.
According to Oxfam Chief Executive Officer Nisha Agarwal, the growing number of billionaires is not evidence of the strength of the economy but its weakness. The gap spread between rich and poor is promoting poverty and corruption and making democracy weaker.
What steps are needed to reduce the inequality between the rich and the poor?
In order to reduce this inequality, steps must be taken to promote inclusive development that means all sections of society get the benefit of development.
The sources of income for farmers will be enhanced. It is known that at present half of the country's population receives livelihood from agriculture.
Similarly, the interests of industrial workers will be kept in mind and they have to provide benefits of other social security schemes along with proper pay.
Arrangements should be made to provide better education and skills as well as suitable employment to the youth only if India will take advantage of demographic dividend.
Conclusion:
In conclusion, it can be said that inequality of income in the world along with the world is growing at a very fast pace which is giving birth to new problems. This inequality can be reduced by following the above suggestions.
