Oxfam Report 2021

Subject – Governance

Context – Oxfam report: In 2021, income of 84% households fell, but number of billionaires grew

Concept –

Report is released by Oxfam International.
The income of 84 per cent of households in the country declined in 2021, but at the same time the number of Indian billionaires grew from 102 to 142, an Oxfam report has said, pointing to a stark income divide worsened by the Covid pandemic.
India has the third highest number of billionaires in the world, just behind China and the United States, says the report, with more billionaires than France, Sweden and Switzerland combined — a 39 per cent increase in the number of billionaires in India in 2021.