We all know there's a huge wealth divide between rich and poor. But this latest survey reveals it's worse than we thought

Source Business Insider

A survey by Oxfam revealed that the fortunes of Indian billionaires swelled by ₹2,200 crores a day in 2018. The top 1% of the country's richest got richer by 39% as against 3% increase in wealth for the bottom half of the population.

Source: Gyaanghantaa

India also added 18 new billionaires last year, which raised the total number of billionaires in the country to 119. Their collective wealth crossed the $400 billion mark.

Source: Divya Bhaskar

Oxfam also revealed that 13.6 crore Indians who make up the poorest 10% of the country continued to remain in debt since 2004.

Source: Money 101

For a more clear picture, the survey found that the combined revenue and capital expenditure of the centre and states for medical, public health, sanitation, and water supply is ₹2,08,166 which is less than Mukesh Ambani's wealth of ₹2.8 lakh crore.

Source: Forbes India

Oxfam International's Executive Director, Winnie Byanyima, conveyed her dissent about it at the World Economic Forum -

If this obscene inequality between the top 1 percent and the rest of India continues then it will lead to a complete collapse of the social and democratic structure of this country.

She also said that it is morally outrageous that a few wealthy individuals are amassing a growing share of India's wealth while the poor are struggling to eat their next meal or pay for their child's medicines.

Source: Spiegel

While the wealth of the billionaires soar, public services are suffering from severe underfunding. For the same, Oxfam suggested that if India's richest 1% pay just 0.5% extra tax on their wealth, the government can increase spending on health by 50%.

The government can take hints from this survey and create plans for the welfare of the general public by increasing taxes on the wealthy.