--- title: "Such difference, much WOW.. Can we ever bridge this inequality?" description: "India and Indian billionaires in 2020. A report by Oxfam on the effect of covid on world's economy and the gap and inequality that builds between rich and poor" author: "Hritika ." published: 2021-01-27 updated: 2021-01-27 canonical: https://yourviews.mindstick.com/view/82179/such-difference-much-wow-can-we-ever-bridge-this-inequality category: "indian economy" tags: ["poverty", "economy"] reading_time: 2 minutes --- # Such difference, much WOW.. Can we ever bridge this inequality? ![Such difference much WOW Can we ever bridge this inequality](https://yourviews.mindstick.com/viewsolution/91d5a4d7-ac25-46c6-b36f-d1a5775ad0ba/images/701b9f04-686d-42cd-b68b-bc6c43f63d8b.jpeg) Wealth of Indian billionaires increased by 35% during lockdown. A report by **Oxfam**, an international NGO founded at Oxford, England, which focus primarily on Poverty eradication and Disaster relief, released a new report, " The Inequality Virus". ### ![Such difference much WOW Can we ever bridge this inequality](https://yourviews.mindstick.com/viewsolution/91d5a4d7-ac25-46c6-b36f-d1a5775ad0ba/images/7abd2bec-005a-4961-8f0a-bf0d4fba700b.png) #### It stated that Covid-19 has the potential to increase [economic inequality](https://answers.mindstick.com/qa/103159/what-is-economic-inequality) in almost every country all at once- the first time this has happened over a century ago. Calling the [coronavirus pandemic](https://yourviews.mindstick.com/view/81022/coronavirus-pandemic-saving-agricultre-sector-in-south-africa) the world's worst [public health](https://answers.mindstick.com/qa/111825/how-are-governments-responding-to-public-health-emergencies) crisis in a 100 years, the report said it triggered an economic crisis comparable in scale only with the Great Depression of the 1930s.\ #### [Millions of people](https://yourviews.mindstick.com/view/85723/punjab-the-state-where-millions-of-people-are-addicted-to-drugs) have been force into poverty while the richest were left least affected.\ Referring to the [health crisis](https://answers.mindstick.com/qa/111922/how-are-communities-responding-to-the-mental-health-crisis) as the ' pandemic of inequality ' , Global billionaires' wealth rose by 19% during this time.\ **Jeff Bezos**, the world's richest man saw a rise to **$185.5 billion** and **Elon Musk** to **$179.2** billion as of January 18,2021.\ In India, billionaires' wealth rose by 35% during the pandemic. **[Mukesh Ambani](https://answers.mindstick.com/qa/49499/what-is-mukesh-ambani-net-worth),** emerged as 4th richest [man in the world](https://answers.mindstick.com/qa/32320/list-the-top-5-most-handsome-man-in-the-world) and the richest in India and Asia with **72% rise** in his wealth.\ On the contrary, **84%** of the households suffered a **loss in income** in April 2020 alone. #### \ #### ![Such difference much WOW Can we ever bridge this inequality](https://yourviews.mindstick.com/viewsolution/91d5a4d7-ac25-46c6-b36f-d1a5775ad0ba/images/ca6b4706-eac8-4c31-b0d8-c5f12b1d2d88.jpeg) #### \ The direct fiscal impact of the 'Atma Nirbhar package' comes to little more than 2 lakh crore or a **mere 1% of GDP**, according to Oxfam.\ Education has been impacted due to the [digital divide](https://answers.mindstick.com/qa/114424/are-5g-networks-capable-of-bridging-the-digital-divide-in-remote-work-environments), where only 4% of rural households had a computer and less than 15% rural households with internet. \ **Labor force** fell an all-time low from 43% to 35% from January to April 2020 and unemployment rose sharply since March 2020.\ The most suffered sector turned out to be in the **[informal sector](https://answers.mindstick.com/qa/104478/why-is-the-informal-sector-important-for-employment) with a total of 122 million** who lost their jobs.\ With over 2,582 cases of [human rights](https://answers.mindstick.com/qa/39221/kunhiraman-panoor-the-renowned-author-and-human-rights-activist-has-passed-away-he-hailed-from-which-state) violation of migrants worker, **17 million women** too lost their job in April 2020.\ #### #### \ #### ![Such difference much WOW Can we ever bridge this inequality](https://yourviews.mindstick.com/viewsolution/91d5a4d7-ac25-46c6-b36f-d1a5775ad0ba/images/51f7e64b-c40a-4a42-9a4d-2723206fe848.jpeg) #### \ One can only hope this unfathomable and consequential problem finds a nimble fix for the advancement of our country.. --- Original Source: https://yourviews.mindstick.com/view/82179/such-difference-much-wow-can-we-ever-bridge-this-inequality Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.