#Srishti Jaswal

[indizombie]

The hunger crisis is particularly alarming because India is the world’s fifth-largest economy and home to hundreds of ultra-rich billionaires. A little over a month before the index was released, Gautam Adani, an Indian businessman, became the second richest man in the world. He is currently 3rd on the Forbes Real Time Billionaires list, and he is the richest man in Asia. Mukesh Ambani, another Indian businessman, is the 8th richest man in the world. According to Oxfam, the top 10 percent of rich Indians hold 77 percent of wealth in India. In fact, between 2018 to 2022, India is estimated to produce 70 new millionaires every day.

Srishti Jaswal, ‘This Country Has 70 New Millionaires Every Day. Why Is it Among the World’s Hungriest?’, VICE

[gbnewslog]

String of brutal rapes shocks India

New Delhi (CNN)Five alleged rapes, mostly of minors, within five days in the northern Indian state of Haryana, has forced the issue of sexual violence back onto India's national agenda, provoking widespread condemnation. CNN's Srishti Jaswal contributed reporting.

via cnn.com - top stories

[indizombie]

Indirect taxes in the country however, have gone up. They may seem small and incremental, but are paid by every citizen whatever their income status. A daily wager and a millionaire pay the same tax when they buy a pack of butter – nearly 12 percent. “Rising fuel prices and indirect taxes have pushed up prices of essential commodities, including food, Bhardwaj added. “This has resulted in acute food insecurity and malnutrition, especially among children and women. Since the government started amassing indirect taxes, their spending in the social sector has gone down.” Mishra said. “This is mostly because the collection of indirect taxes just cancels the loss of corporate taxes.”

Srishti Jaswal, ‘This Country Has 70 New Millionaires Every Day. Why Is it Among the World’s Hungriest?’, VICE

[indizombie]

Mishra added that India’s taxation policy is partly to blame. “Taxation policy is a major reason for inequality in India. It is harsher on the poor than the rich.” India used to have a wealth tax, but it was abolished by the government in 2015. This is despite the country having more than 142 billionaires. The Indian government also slashed its corporate tax in 2019 which led to a financial loss of nearly $ 22 million in two years.

Srishti Jaswal, ‘This Country Has 70 New Millionaires Every Day. Why Is it Among the World’s Hungriest?’, VICE