The Myth of Development by Privatisation

Inequality has been rising in India over the last three decades. with the top 10 percent of its 1.4 billion population having cornered 77 percent of the total national wealth, finds Oxfam report

A woman holding a child begs at an intersection in New Delhi. Credit: Ranjit Devraj/IPS.

NEW DELHI, Apr 20 2022 (IPS) – Oxfam’s report and its (hereafter referred to as the report) revealed some shocking facts about the growing gap between the rich and poor. India, which has the third highest number of billionaires in the world, endured one of the longest-lasting COVID-induced lockdowns in 2020. Yet, the same year, the top 10 percent of India held close to 45 percent of t…