'Mukesh Ambani made Rs 90 crore per hour amid pandemic'

NEW DELHI: The COVID pandemic has led to a rise in inequality, and it would take an unskilled worker 10,000 years to make what Ambani made in an hour during the pandemic and three years to make what Mukesh Ambani made in a second.

As per the Oxfam Inequality Report called this year as "The Inequality Virus Report" because of the pandemic said the pandemic has also widened the existing social, economic and gender-based inequalities.

"The rich have been able to escape the pandemic's worst impact, and white-collar workers have easily isolated themselves and have been working from home. However, most of India has faced loss of livelihoods," it said.

The rising inequality in the country is poignant: It would take an unskilled worker 10,000 years to make what Ambani made in an hour during the pandemic and 3 years to make what Ambani made in a second. The pandemic has also widened the existing social, economic and gender-based inequalities, Oxfam said.

The wealth of Indian billionaires increased by 35 per cent during the lockdown and by 90 per cent since 2009 to $422.9 billion ranking India, sixth in the world after US, China, Germany, Russia and France. This is despite the fact that most of India has faced a loss of livelihoods and its economy has dipped into recession for the first time after a quarter of a century.

Mukesh Ambani, emerged as the fourth richest man in the world and the richest in India and Asia with his wealth rising to Rs 5,837 billion — a rise of 72 per cent in his wealth.

He was making Rs 90 crore per hour during the pandemic at a time when around 24 per cent of the people in the country have been earning under Rs 3,000 per month during the lockdown, the report said.

The increase in wealth of the top 11 billionaires during the pandemic can easily sustain the MGNREGS scheme or the health ministry of India for the coming 10 years, Oxfam said. (IANS)

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