We put Oxfam’s ‘Eat the Rich’ condemnation of India’s wealth creators at Davos to test of facts

#oxfam #economicinequality
Questionable definitions of wealth, ironies and skewed calculations - why the findings of the Oxfam India report aren’t the societal rehab we need. Editor-in-Chief Shekhar Gupta dissects the data and explains why we need to dig deeper. Watch episode 1,155 of ThePrint 'Cut The Clutter'
Brought to you by @KiaInd
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Watch CTC ‘why Oxfam's inequality report is deeply flawed’ here: • Shekhar Gupta explains...
Read Oxfam's India specific report here: d1ns4ht6ytuzzo.cloudfront.net...
Read Oxfam's world report here: oi-files-d8-prod.s3.eu-west-2...
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[@ThePrintIndia]

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[@lakshaysiwach3652]

total revenue collection for the financial year 2021-2022 is 27lakh crores which translates to 2.25 lakh crores monthly. also please read the references there are more than 100 references for data in the report including your new outlet(the print).

[@studytime2570]

While unrealised capital gains tax is probably not feasible. But it is a common scheme of the rich to buy assets from each other every year at higher and higher prices in order to inflate their portfolios which allows them to borrow more at lower rates, cleverly designating such exchanges as exempt from most taxes. banks routinely give whale clients extreme subprime lending against their unrealized capital gains and amortize any potential loses over their poorer clients through fees and surcharges. that's why fees and surcharges were invented only a few decades ago; they didn't exist in the thousand years of banking in the amount and proliferation we have now. So they are profiting substantially over that "unrealized capital gains".

[@kunalnichani1]

Hello Sir. Thank you for your insights. I have a few points which I would like to share. I wont go into numbers so that I get the overall basics correct. 1. There is way too much monopoly happening in India at the top level. China having their richest in world's top 10 would have made sense but India's doesnt. Lets say we seriously have shortage of talent and we have to rely on Ambani and Adani (surprisingly both from Gujarat) for quality growth, then may be we would expect a lifestyle similar to Ratan Tata from them. But they want to enjoy all the luxuries of the world. Spend crazy in weddings, build most costlly houses, have a series of private jets. Thats not acceptable. Democracy mein Raja Maharaja nahi sevak hote hain :) BJP jyada he history mein ja rahi hai. Those billionares have to start donating money for upliftment of the poor. 2. Modi government is letting all the big fish eat the small ones. Every field is seing monopoly. Small businesses have suffered immensely since notebandi, GST and then covid, and government didnt do much towards stimulus. Its a shame. Kisan aj bhi usi dar se aatmahatya kar raha hai. We dont want progress at the cost of quality of life of masses. Farming mein technological advancement bohot pehle aani chahiye thi. This government doesnt want to empower poor people. 3. India had a spirit of love and brotherhood. Now there is only patriotism driving the nation. Other than that there is just hate and division. Kisi bhi industry ka kabhi bhi boycott kiya ja sakta hai. Anyone can curse anyone openly. News channels sare bik gaye hain. Bollywood ka culture RSS ko pasand nahi to 100 saal purani industry he hila di. I know we dont have options. But BJP will have to do a better job. Is tarah ki desh ki growth ka faida nahi hai which comes at the cost of pain for masses. Humein Japan nahi ban na jaha janta paisa hote hue bhi depressed hai aur suicide ka sochti hai. Is sey behtar to phir congress he hai. Khud bhi kaam nahi karegi, logon ko bhi nahi kahegi karne ke liye. GDP 3-4% se grow karti rahegi to kya problem hai. Nahi ban na boss superpower if it means stressful life. We need a better balance. BJP does get some benefit as pandemic made things difficult for them, but now they have to start fixing all the loopholes. There is no substitute for hardwork and corporate style governance is the only option. Otherwise only time will tell what masses decide. BJP ne boycott karna to sikha he diya :) Ab time nahi lagta janta ko mann badalne mein :)

[@anandtilaksg]

There are a lot of people like Guptaji who get very happy when any report puts India down. Because they both hate Modi ji. Survival of the richest ? US is considered as the richest country in the world. Death rate in US due to corona 3.3% India 0.03? Would Gupta ji care to ask Oxfam ? No Because it suits his narrative Even in yesterdays episode he making fun of Modi ji as some one who buys Oil from Russia. Why should we stop buying oil from Russia if the entire Europe buys gas from Russia ? Stop bitching Guptaji Be a real journalist. If you think GST is Gabbar Singh Tax and Rahul baba says so, that’s the last nail on your coffin

[@ameya7723]

As long as the target are Brahmins, Shekhar 'Gupta' doesn't mind. But as soon as the question comes regarding the wealthy Baniyas like Adani y Ambani, he quickly becomes very defensive. Such hypocrisy. He has always given platform to anti Brahmin people like Dileep Mandal.

[@Grand-Rose-dw9kh]

We do not appreciate Mr Gupta's humor enough! "My mom told me that I am much smarter" had me rolling

[@shashankchourey4292]

And nicer looking also 😄

[@jaybazad6292]

Oh he has a sharp intellect no doubt

[@AR-xx4mq]

I spit my coffee😂😂

[@sudip_curiousmind]

"1% of India owns 40% of wealth" well 1% of India means 1.4 crore people..not just Adani-Ambani!

[@controversial-me]

Birla Adani and Ambani are 95% of that 1% idiot

[@sanjaylalverma7840]

Chutiya 1 % amarican 70% of wealth

[@gamer-ix6bc]

Well you should know that 99 means 136 crore

[@pamtam1]

21 top billionaire Indians own more WEALTH than 700 million (50%) Indians.

[@subramaniamramasubramanian877]

@@gamer-ix6bc We need to contextualize what the bottom of that one percent looks like to say much about that. If the bottom of the one percent is a 3bhk owner in a central metro in his/her 60s who worked their entire life for it, you would be less inclined to taking it away from them on account of the 134 core poor people.

[@gopalanramaswamy8910]

The salary of the 10 top executives of Oxfam is equal to 100 of its lowest level staff...

[@asangdani]

When I visited Sri Lanka in 2006, I stayed at Gall Face Hotel. Oxfam that claims to care so much for the poor had a 3 day conference there feasting on the most expensive breakfasts and luncheons. Clearly, there is hypocrisy in how they operate.

[@moinakbhattacharya878]

Communists in lutyens of delhi, wearing fine linen and sipping wine - do you see a similarity?

[@suseeln]

How is it hypocricy. Don't doctors smoke?

[@genesis9chaos]

This is exactly the type of CTC because of which I have been a member of this channel for so long and will continue to do so. Excellent analysis Mr. Gupta.

[@harshalshah8845]

@amitabh Totally agree, such episodes make the membership totally worth the subscription.

[@pardeeptandon]

Kindly read my comments above and give your views

[@mg.f.9023]

Business Success in India is NOT dependent on "what you know" but "who you know" !

[@Boldy514]

@@mg.f.9023 So, guessing you probably know nobody.

[@mg.f.9023]

Mr. Gupta should also discuss how much of the TOP RICH contribute through "ELECTROL BONDS" to keep them and their businesses richer..

[@sundareshanal1849]

Can you do an in-depth series on all the OXFAM , or Democracy or Religuous freedom indices etc. which do India-bashing almost as though they are part of an organised Symphony ? Who are these institutions ? Who are they backed by ? What is their agenda on trashing India's public narrative or image-busting by global leader groupings ? We need a series of researched debates on these issues. This episode was spot on.

[@soibalsom9032]

These Oxford and Cambridge educated vermin. Her majesty's and lenins arse licking scum.

[@JohnSmith-vn8dm]

There is no global grand conspiracy to put India down. Never attribute to malice what can be explained by stupidity. And remember the West is not a monolith either. The real explanation is pretty simple, leftists in the West tend to incorrectly in my opinion, view India as some far rightwing nation. So they tend to be critical of it. The other big factor is that the West in general is very bad at understanding India, so they misunderstand India's intentions, and India in general is bad at explaining itself and making itself understood. The solution to the religious freedom debate is very simple. India should emphasize that the US does not allow polygamy for mormons, yet India does for Muslims. Most of the West has no idea India has differing laws based on religion. In this way India goes further than Western countries for the sake of religious freedom. India should then say that by adapting BJPs proposals on UCC they are simply pushing for more secularism. Its very easy for India to silence this Western criticism, but first you need to understand where they are coming from, their biases, and what they are ignorant of.

[@madhavdiwakar1100]

India has law…way too many laws. What’s lacking is order and enforcement. If some group decides to restrict another group’s religious freedom, the Indian state does not have the capacity to protect the rights of the oppressed. Or it chooses to selectively protect rights.

[@AjeethNB]

Analysis of the funding of Oxfam would reveal their true agenda

[@divyeshmandavia979]

This is extreme and unbelievable that Oxfam doesn't have good excel operators also and no one knows basic maths or common sense at Oxfam higher-ups.

[@0609Bhuwan]

That Oxfam is a shill ops and fraud is now well known.. The more important point that SG is highlighting is the media space that is given to them by reputed publications WITHOUT any due diligence... That is the real fuel that feeds these radical outfits ... Oxfam is the literary equivalent of Al Quida and their report is their suicide bomber... If everyone simply ignored them they will just go away

[@meret99]

Thats what SG would have us believe

[@SurajSharma-zi4sn]

Very interesting point: I read an article from early 2000s And it was talking about China specifically the point that in a country of 1000$ per capita income country(at that time) is creating many millionares and billionares day by day and huge inequality is growing up and if this continues China will have huge unstability in 5 years( same old doomsday scenario tactics).Inequality is not a problem to be ignored but solutions provided by ideological organisations is a road to complete failure.They even treat Inequality bigger problem than the poverty itself.China in 1970s was much more equal gini was low but as horrificly poor as it gets.

[@max-cs9ko]

No Chinese become second richest man of world even though they have economy five time of India, stop stupid comparison

[@shantanukumar9364]

@@max-cs9ko The second chodo, Xi jingping may be the richest man in the world, china cracks down on it's capitalist not because the want to redistribute wealth but so that all the resources in the country are under CCPs control. Look at what they did to Jack ma and ant group.

[@Boldy514]

@@max-cs9ko So nobody from India deserves to become that rich ? And if they don't become that rich every problem of India will be solved ? Very logical.🤔

[@srinisbir8781]

@@max-cs9ko Because there is no entrepreneurship in China. China is not a market economy. It is heavily controlled by the government. The people who are getting rich there are those who belong to the CCP.

[@reddragon100]

@@max-cs9ko see number of billionare in india and china not just second position

[@tejamysore3699]

Thank you, Salvatore Babones. 🙏 Finally, journalists are acknowledging and addressing their biases. This kind of stellar reporting was unthinkable even 3 years ago. In fact, ShekharJi 's friends at NDTV are still peeto-ing the same dhindora.

[@srichakrahubli]

Well said. Hit the nail on the head. Bravo

[@raveetr8730]

Some people don't change .

[@zga3020]

SG has always been an economic-right

[@highlandertrek3914]

peeto-ing!!🤣🤣🤣🎯

[@tigerking2742]

Band baja diya peeto- ing 👌👌👌😂

[@--Dani]

Always be rich and poor, in any society, it’s a large strong middle class that matters.

[@shriramk7682]

If employees of Adani and Ambani's enterprises are tax payers, then they are wealth creators of india

[@PK-tt5kk]

hmm the main issue with adani & ambani is that they arent increasing much of the wealth of the country...rather they are just taking more of the wealth created by others.....like the very productive IT sector. Ofcourse I dont have any solid data to back my claim. Though one thing that one can easily notice is that both of them: Their sectors are non tradable and their businesses mainly serve the domestic Indian market. In any country, businesses which add to the export competitiveness of a country are the real wealth generators & engine of the economy like the Indian IT sector.

[@shantanukumar9364]

@@PK-tt5kk Thanks for saying you don't have anything to back it. Please tell was jio not a contribution to the indian ecnomy? What country uses mundra port for exporting?

[@minhaj23227]

@@shantanukumar9364 true also Adani controlled airpots which will now actually make profits and not get corrupted in bureaucracy ......And refined oil products and chemicals from reliance refineries our are one of biggest exports

[@minhaj23227]

@@PK-tt5kk u can factcheck these points urself and then make a judgement ....Free market capitalism is the only hope for india , compare 1950-90 growth and and post 90 growth even with a little bit of capitalism but we still stick to socialism even with a right wing government

[@srinisbir8781]

So, according to OXFAM, bottom 50% of India has a per capita income of $2500.00, where the overall is $2100.00. I am wondering what kind of income distribution can possibly give rise to this arithmetic. Need to start using the BS meter.

[@SDW3-6-9]

Always "follow the money" and their sources of Data too.

[@paddysubramaniam1481]

If a similar report was done on the Charity organisations like Oxfam, World Vision et al...I won't be surprised if a large slice of the aid goes toward admin costs...the Directors and CEO's don't come cheap !!!

[@elizabethvarghese5511]

What is wrong in paying the administrators for the work they do? Take any organisation which pays a reasonable remuneration, the maximum percentage of the expenditure will be on salaries. On a person's salary depends a whole family and it has to be a fairly good amount. Consider the salaries of organisations like world vision as being ultimately the expenditure meant for the target population.

[@minni1357]

Yep. NGO and charitable trusts both spend maximum amount on charity parties, administrative pay and miscellaneous fudging. You would expect the people involved in such institutions to be doing it for altruistic reasons and waive payment - nah, they're greedy a-holes. These people mostly just want to preach to others and virtue signal.

[@mg.f.9023]

Trying to shoot the messenger is not going to hide the truth.

[@abhinashkumar3161]

@@elizabethvarghese5511 well wealth of these people sitting on these organisations top executive post is way much higher than 100s of staff at lower level

[@teampunk1356]

@@elizabethvarghese5511 what's wrong?? Well...hypocrisy ofcourse...

[@PurushNahiMahaPurush]

Inequality with low poverty is better than having income equality and widespread poverty. During license raj we never had such income inequality but we had massive amounts of abject poverty. Today, poverty has declined thanks to the opportunities that opened after 1991. Being brought up in the 90s, I remember how foreign brands were craved for, how we had limited options for almost everything. Being a tech geek, I used to beg my dad to ask my cousins to get me gadgets from outside. Today, you can buy all of that in India (a lot of them even made here). Same goes for services. Quality of life for middle class has definitely improved in India. Income equality has gone up but that is the trend all around the world sadly. It’s not specifically to India. The answer to that is not a stupid revolution, but making sure companies don’t evade taxes and making sure that the taxes actually benefit the people. In India, taxes usually go to politician’s pocket and we the people see very little benefit. That is a bigger problem at the moment than income inequality. Income inequality can be solved to a greater extend if the people actually start seeing benefits of paying taxes.

[@JohnSmith-vn8dm]

Exactly. If I make 100 INR more than yesterday and you make 10000 more INR than yesterday income equality has gone up. But in reality both of us are better off! So income inequality is the wrong metric to focus on. Standard of living is what's important.

[@anandmehta2323]

Basically these western agents are making multipronged attacks to destabilize and harm india.

[@beluga9596]

Very likely the lack of wealth is due to : > Lack of proper skill development > Lack of industrialisation > Lack of land reforms > Lack of agricultural reforms > Lack of streamline industrial policy > Lack of proper taxation regime Read the report published by ORF - Jailed for doing business, it paints a very sorry ass picture of Indian industrialisation

[@JohnSmith-vn8dm]

Exactly. Land reforms, industrialization, and agricultural reforms are the biggest issues I think. It really disturbs me at how Indians do not look at countries like China and Vietnam, which had similar economies in the 90s but grew faster, and study what they did. Both have far more liberalized and productive agricultural sectors despite much less land. Both built greefield cities from scratch and established reliable power grids for manufacturing. China achieved modernization in 30 years by establishing trade deals, having good relations with the US and exporting textiles there in the 90s. At the same time they built infrastructure. The in the 2000s they began manufacturing and assembling electronics. At the same time they massively opened up to foreign businesses and got FDI into the country. Then In the 2010s they seized upon the smart phone revolution and formed their own companies, decades after foreigners entered the market, they started to really compete with them. Now in the 2020s decade they are trying to move up the value chain to automotive. We will see if they succeed.

[@ManishRajwar]

Oxfam lives up to it's name - Ox = बैल, fam(ily) = परिवार. बैल बुद्धि लोगों से और क्या अपेक्षा की जा सकती है?

[@nitinpatel1039]

🤣🤣🤣

[@akshayagrawal5114]

Waah! Lagta hai Harvard se abhi nikle ho.....Modiji waale Harvard se 😂😂😂

[@ManishRajwar]

@@akshayagrawal5114 सिर्फ हाड़-वाड़ नहीं, पूरे हाड़मांस वाले हैं 😂😂

[@elizabethvarghese5511]

Since ox is the husband of cow, 🐄 , which in turn is god, why is ox a bad term?

[@ManishRajwar]

@@elizabethvarghese5511 Don't anthromorphise it. First, Cow is sacred but not God. Second, Ox also has significance as it is vehicle of Shiva (Nandi). However, it signifies Brute Force, and hence simpletons are referred as Ox. It is not derogatory.

[@akhilv2890]

The fact that Mint, Business Standard which are India's most read Finance/Economy papers picked up "facts" in this report and wrote useless editorials show the uselessness in indian media today. So disappointing. India has inequality and poverty. But if you don't diagnose them right, the solutions will not be what we need.

[@narasimhankhadri]

My mom did tell me I am so much smarter 😂 Thank you SG Sir, another good episode

[@TheAb9211]

While I agree with SG on many things, I do think India really needs to reform its tax brackets. With increased inflation and more expensive dollar, I would argue that the 10lakh brackets needs to breakup into smaller brackets. Just above 10lakh should not be paying so much tax. A much higher bracket like 10crore (or something like that) should be kept to have such a high taxation of about 40%.

[@PK-tt5kk]

well the issue is that....yes 10 L is not much when you think about cost of living in any major city. But when compared with the annual income of rest of the country its massive. Though yes there should be lot more tax brackets. with incremental tax increases.

[@sameerthakur720]

Tax brackets should be automatically adjusted to the inflation rate. Similarly, govt salaries should not have pay commissions anymore. The basic should also rise by (inflation rate +increment for experience).

[@acswain6720]

You are asking us to surrender to the woke hypothesis of "Equality of Outcome" which is a proven fallacy. You can't ensure equal outcome for everyone through laws and policies. Even identical twins having identical DNA (hence genes) and identical environment (same parents, house, money etc) do not grow up to become similarly successful. This communist thinking has led to the economic demise of eastern european nations and countries like Venezuela run on similar policies. Not all branches of a tree grow equally. But to force equal growth of all branches if you insist on cutting the most from the largest branches, what you will get is a very puny and stunted tree with no growth achieved.

[@warmachine3943]

@@sameerthakur720 increase payment of gov employees and adjust to inflation along with reduced tax or more benifit to employees as they only pay most of the taxes

[@tushar4evr776]

@@warmachine3943 Govt employees salary is always adjusted to inflation.

[@chethan93]

Great as always. While watching this, I felt GDP per capita in dollars is a wrong metric to gauge a country's well being. I'll try to explain why, lets say, a family makes ₹16000 / $200 a month in a village in India and is able to feed the whole family with good food and they have access to clean water and other basic necessities. The same is not possible in a village in USA with $200 a month because of the purchasing power difference. The same family would need at least $1500 a month. Why are we saying that people with $200/month GDP per capita is not well compared to a $1200/month GDP per capita even if former is living in India and the latter in USA..??!! We should start using metrics which are adjusted to purchasing power differences of the country. Edit: Just checked the PPP adjusted GDP per capita values of India and for the year 2021 it is around $7200 per person which seems fair. We obviously have a long way to go but with this at least we have a clearer view!

[@josephs4044]

Chetan, that’s purchasing power parity, that’s accounted for.

[@the_Nameless_One99]

Thank you for a great episode, sir! Some people want to have an easy one-line solution to the complex problem of poverty. One such stupid yet extremely popular "solution" is "Tax the rich". Ironically, this WILL solve the problem. As in a nation/society of beggars, no one will be "poor". They will all be the same.

[@rahulkulkarni9045]

AOC should watch this video (Alexandria Ocasio-Cortez) who wore that "Tax the Rich" dress at Met Gala

[@pardeeptandon]

Are we not already a nation of the poor?

[@VarunKumar-bn2tu]

@@pardeeptandon NO

[@ohhell1234]

Americans pay more taxes than most Indians. We have an asset tax called property tax which is 1% of the value of your house annually. Nobody in India is paying 1% of the market value of their house as property tax

[@pardeeptandon]

@@VarunKumar-bn2tu: We are at the bottom of the heap on most global economic and social indexes.

[@parvadhami980]

Even if Adani becomes the richest person of World, he would stil be eating "X" chapattis. Hence the proportion of amount spent on food will definitely go down as income increases.

[@srinisbir8781]

But he also employs a lot of people who each each "Y" number of chapattis.

[@resket32]

Shekhar ji, the analysis on % of Indirect Taxes that poor give is a fact and can’t be disputed. A poor labourer wanting to quench his thirst in hot sun paying an amount in Indirect Tax on a bottle of water equal to that a man coming out of his Mercedes is cruel.

[@gandlasairaj]

Mercedes owner has to pay a lot of tax . As it is luxury car. And also most goods and services sold in imdia don't have gst as they operate in informal economy. U can get water for free in hotels and summers in india and also u can get 10 litre of water for rs.10 without any tax or gst from local drinking water supplier/purifier.Hope u understand this. Don't be emotional..

[@joshua_ch]

Oxfam is an activist organization. It is silly how seriously media treats their report. One of the stupidest ideas in recent years is the unrealized capital gains tax proposal. It might have made some sense in a persistent low interest rate environment when asset prices were ballooning but Oxfam folks seem to have missed the huge rate hikes all over the world. Also, they never talk about helping create wealth at the bottom, i think that is the more important question rather than these pie-in-the-sky tax proposals. PS : As an aside i do think intergenerational poverty is a serious problem, where lack of liquid 'wealth' plays a big role. IMO , we should try coming up with fiscal space to provide something like a government bond for kids born to parents below some income threshold. The children could then use it once they are 18years old for vocational training or small business collateral etc.

[@anshuraj4277]

Same wealth creators listen to it Davos Then u r saying wealth creators are stupid

[@joshua_ch]

@@anshuraj4277 I don't know who listens to them at Davos. If any firm or country forms its policies based on Oxfam reports then they are stupid.

[@anshuraj4277]

@@joshua_ch It's just one opinion but most countries in Europe do wealth redistribution along with capitalism... So clearly some do

[@joshua_ch]

@@anshuraj4277 What does wealth distribution have to do with Oxfam ? India does wealth redistribution, US does wealth redistribution. Every country does wealth redistribution.The question is what are the more effective ways of doing it. No country has an unrealized capital gains tax. Not even Europe taxes capital gains at rates that Oxfam wants. Europe does a lot of simple things like high income taxes, in some countries they have high VATs. Funnily in Europe the middle and lower middle classes pay a higher share of total tax revenues than the US ! PS: You sound like you are a young guy. My simple suggestion would be to read primary data much of which is now available through World Bank and play with the data to find the real questions. Taxation and redistribution are more nuanced than the silly stuff you read about capitalism v socialism on social media. All economies in our modern world are mixed economies with welfarist goals.

[@anshuraj4277]

@@joshua_ch Yeah every country does redistribution but it's about quality of service There is reason why Europe has less inequality... Yes taxes are high so is quality of services. Plus These are high level discussion India has cronyism problem not capitalism Few billionaires have outsized influence on country and government Btw.... Free education, Free healthcare, strong unions, Progressive tax Good regulations These are good policies U can call it whatever u want

[@VK-iq5he]

Great analysis sir, CTC never disappoints but you out did your self this time . Worth watching it with every ounce of time .

[@pardeeptandon]

The bulk of the FDI in India is invested in stock markets and not in manufacturing as we are not members of any of the 3 major tax-free blocks like NAFTA, EU and RECP. Each of these blocks is a bigger tax-free trading market than India. And anything manufactured in India attracts custom duty abroad. While if they set up a factory in any of the 15 RCEP counties, they pay no customs duty within RCEP. Today HNI are setting up shop abroad and even giving up Indian nationality.

[@sudip_curiousmind]

External investment in Indian stocks will be classified as FII or FPI investment not FDI.

[@pardeeptandon]

@@sudip_curiousmindStand corrected it should read FII or FPI or any other name. The fact remains foreigners are no longer investing in our manufacturing units.

[@0609Bhuwan]

Perhaps you can also examine why USA withdrew from TPP ?? Or why UK exited the EU ?? India has a FTA with ASEAN since past 15 years ... dont see too many factories here by ASEAN countries... RECP is just a China trap.. Thank God we avoided it

[@JohnSmith-vn8dm]

This is why India needs to signa trade deals ASAP. The UK and India delaying their trade deal was a disaster for both sides.

[@kdi3726]

Very well analysed Shekarji. It is unfortunate because it undermines some of the issues that needs serious deliberation. Wealth gap is real and needs our attention but exaggeration of this kind makes it difficult to have a rational conversation around it. There was a talk by president Obama where he suggested that one should not worry about if the theory is socialist or capitalist. We should just choose what works for the people. Capitalism can work for people if implemented correctly with the right protections for the mass and equal opportunity built in its working. The term he used was inclusive capitalism

[@pardeeptandon]

Economic decisions should be made in pursuance of MERITICORCY and not socialist or Capitalist as China has done,

[@shantanukumar9364]

Wealth Gap will always be there, it's a pointless goal, somalia has no income inequality. Let's all be poor together, you can't retroactively fix other people's circumstances, and there will never be an equality of opportunity nor equality of outcome.

[@sagarpaul7934]

@@shantanukumar9364 but u can go for equality of opportunities but not fir equality of outcomes.

[@mg.f.9023]

We complain about the shortage of DEMAND in the Market. How is there going to be any demand from the majority who do not have the purchasing power and all the wealth is with a few who cannot create the total demand in the country even if they were to spend on themselves?

[@Mymindischaos1]

@@sagarpaul7934 prageru much?. In order for equality of opportunity one has to first address the pre existing inequalities. Saying meritocratic system are equality of opportunity is a joke. If in a race obe gets to drive a ferrari and the other a bullock cart is the race truly free and fair. And if the race is the only way to socio-economic progress is the system meritocratic. Obviously no. Liberty without equality only breeds the principle of might is right.

[@ranjitpal9937]

Shekar Ji , A Humble Suggestion 🙏 Please Ask Your Sponsor Co. To Put A New Advertisement in The Beginning ( Ads Being Some 5 Months Old )

[@pocoboy68]

Fully agreed plus this ad is also most boring ad I have seen.

[@n.s.1170]

“My mom told me I look so much better” 😂

[@arunsar7893]

I called it Oxscam. Or change it to Oxsham, if I get bored.

[@pratyushojha]

It's glorious to be rich. Poverty is a curse.

[@lastbrush]

This is such a brilliant episode!!! Love when SG does data related CTC 😍😎

[@pamtam1]

SG has always been like this since the last 2-3 decades at least..😃 He is a rich man's guy and extremely sarcastic upon the poor, who are the overwhelming majority of India...

[@priyanjalimitra5092]

Thank you for watching...best wishes, SG

[@mahadevsuresh5]

This is good, "No one takes Oxfam reports seriously" 😂😆

[@mg.f.9023]

Yes, only Indian Main Stream Media is taken seriously ..ZEE TV, Times Now, Republic TV etc

[@islandsunset]

All the 9-5 job workers who watch evening breaking news will believe the clickbait headlines and haye-haye during debates done regarding the report.

[@Findorfound]

Shouldn't forget the infamous upsc coaching institutes' model answers or the so called potential IAS officers using this to score marks they don't deserve for real.

[@rahulvishnu4426]

You outdid yourself with this. I am proud to be a member of such excellent institution of journalism. Excellent research by you and your team. Keep them coming!

[@mg.f.9023]

Would appreciate a report about 'The Electoral Bond' secrecy between ruling government and the Top Businessmen.

[@priyanjalimitra5092]

Thank you for writing in. Best wishes, Shekhar

[@kartikeyapanwar]

Been following Diva and her excellent few articles in Livemint. When I saw her tweets yesterday, I immediately knew what CTC will be about today.

[@sanmanbhusari496]

To be honest, I agree with your analysis but oxafam report correctly says that rich are not affected by taxes. Currently Middle Class are mostly affected by the taxes be it indirect or direct. Increaing tax is not a solution, rich can and will definitely find way to avoid tax legally or otherwise.

[@asoulwithsixsenses4736]

We want more wealth creators. Govt should ensure proper wealth distribution & prevent wealth accumulation. More direct taxes on very high income slab, not on corporate tax More indirect taxes on luxury, non- productive products, particularly imported luxury products like cars,.... Core of indianess is neither capitalist nor socialist economy. It's self employed, entrepreneurial, people participative economy🇮🇳👍

[@arunsar7893]

"More direct taxes on very high income slab" - How much higher exactly? .. Since its close to 43% already. And let's not forget, a lot 'sole proprietorship' also pay this tax.

[@asoulwithsixsenses4736]

@@arunsar7893 they may be given exemption for productive investment, savings to reduce their luxury, non productive consumption like luxury homes, costly foreign tours,......

[@bhargavdesai7984]

Be realistic. People are already paying almost 50% direct tax, not taking into account taxes on their spending just like everyone else. Hard work of entire life and more than half of that you give away to corrupt people.

[@arunsar7893]

@@asoulwithsixsenses4736 You didn't answer my question. How much more do you want the tax rate to be increased to, since it's already 43% ?

[@dronasystems]

People will leave india and settle abroad, we are shooing away wealth creators and only lazy leeches will remain in india

[@tp123]

Excellent Analysis Shekhar. Love the facts and figures you have presented.

[@Harsh-rf9k]

Unfortunately, many people don't understand the real logic behind so-called inequalities. Many think, by taxing rich more and more and sharing it with poor india grows but actually india's growth will slow down if we do it.

[@sailendradewan]

Mr Shekhar Gupta, Please do a CTC on the tea workers of India, especially from West Bengal and Assam. The stories of the periphery are never covered much by mainstream media. Tea workers in West Bengal get only Rs 232 per day as daily wage. Tea workers in Assam get only Rs 232 per day (Brahmaputra Valley) and Rs 210 per day (Barak Valley) as daily wage.

[@divyatiwari9946]

There is a mistake in Diva Jain's income calculation, the 64.3% and also the 6.7% is calculated not on the entire GST amount for all products and services but only for a select basket of items. One can not use the entire monthly GST amount for computing the income. Income would obviously get inflated on using this bigger base.

[@Talushallux1]

So Oxfam is at it's annual best again-bashing the inequalities in developing countries, while ignoring UK's latest wealth inequality figures released just 2 days ago: An eye watering richest 1% of Brits wealth is equal to 70 % of the UK population combined! And these are not my figures, but those reported by Oxfam themselves! Yes undeniably India's wealth inequalities need to be addressed, but, Britain's wealth divides are even bigger, with record poverty, homelessness, and unemployment.

[@mg.f.9023]

Cannot compare UK's poor to the abject poverty in India.

[@Talushallux1]

@@mg.f.9023Regurgitating what the BBC/DM has fed you for decades. But one thing's for sure, even the poorest in India can afford a fan in the hot summers, but the opposite-the most impoverished Brits, and now even the middle class cannot afford heating in the harsh winters on the island! And yet the BBC or the daily mail will sweep those bitter realities under the carpet, and talk endlessly about the rot & sleaze of the Royal family or the 'Brittanica unchained'.

[@mg.f.9023]

@@Talushallux1 I Agree, capitalism unregulated can cause unfair wealth disparities anywhere.

[@Ram6669]

@@mg.f.9023 yes. We can compare poor of each country until they living in respect country. But if poor of UK move to india, he will live a pretty good middle class life.

[@vspatmx7458]

Who funds oxfam ? Do they talk about USA and UK which is the country which ruthlessly plundered India driving Indians to poverty famine and diabetes. Also... I was in in NY USA days before CES And the nos of home less dieing in the cold was disturbing..

[@bigfigher]

we cannot continue to make 'colonialism' as an excuse for our inefficieny and failure. Japan and Germany completey got destroyed after WWII. They rebuit their country and both are highly advanced country now. There is no sensible explanation can be given other than cronism for adani's wealth growth in such a short time

[@Bruh-og8rb]

@@bigfigher both Germany and Japan are lackeys of US. Entire rebuilding and reconstruction of both Japan and Germany was financed by US. Read about it. The reason? Very simple Germany and Japan both allowed US to open their territory for US military, US airbase and both nations agreed to follow US foreign policy. And that has been the case with both japan and west Germany since the end of WW2. After 1989 entire Germany started following the policy. Why do you think US provides so much aid to Pakistan? Pakistan continues to provide its airspace access and military base to US military. If India provides US similar benefits US would provide India billions in aid as well. These are topics people tend to overlook.

[@bigfigher]

@@Bruh-og8rb US govt's total funding to Germany post war is available in public domain. It is just below 5 Billion USD. This includes food, fuel, medicines, construction equipments and so on. If you belive that was enough for germany to rebuild their country to today's level, I have nothing to discuss as I think it is pointless. If you belive 5 billion was just a drop in pool for germany and germany rebuilt itself, then I agree with that You can just read what you wrote and think. US gave Pakisthan many many times they gave to Germany. What is the state of pakisthan now. There is no replacement for hardwork and efficiency, transperancy, truthfullness and so on which indian leaders lacks

[@shantanukumar9364]

@@bigfigher Bullshit. It's the socialist stupidity we have to thank for this. Japan, Germany, and South Korea, all grew because of capitalism, in fact, crony capitalism in many cases. Which is still a much better model of economic growth than Congressi command economy and redistributionism. Read about Samsungs chokehold over South Korea, the zaibatsu system of japan, and german subsidies to its industry there is a reason you don't see startups coming out of any of these countries. Baate banani buhat aasan hoti hai, no country in its history has ever progressed without the class of people you call the Rich.

[@handyman7147]

Oxfam missed that the poor 90% in Inda pay 99.9% of GST on Atta :=)

[@subhamsahoo5817]

I have a confusion how is per capita gdp is equated or compared with per capita income at 17:40 are they same thing ??

[@olivieraeschlimann2547]

"India willl get the largest number of everything" ... very well said

[@utbe2002]

Amazing analysis and reporting. Love your work.

[@max-cs9ko]

In India nobody criticises Ratan Tata and Narayan Murthy because the succeeded on the basis of hard work, innovation and international brand building, people only criticise those businessmen who succeed on basic of governments support, eating consumers surplus by creating market monopoly, and whose brand value is only because of their relationship with a particular political party

[@adityaakumar611]

They r not criticized because they pay well to leftist organizations.. 😂😂just go n reserch and u will find Murty and tata fund all leftist and woke organizations ..

[@kishantiwari5601]

Ambani became world's richest man in 2007 who was supporting him then? How hard it is to accept he is good business man.

[@NareshKumar-yn5qq]

LOL, TATA are the epitome of License Raj and Crony Capitalism. First they sucked up to the Britishers , later to the Nehru and Gandhi's. TATA's are very good at PR, as they give lot of money to congress and left parties , so they are spared by their "Eat the rich" lynch mobs.

[@garyish]

In the 1970s Indira Gandhi era, leftists used to say Tata-birla with the same contempt because there was no Ambani-Adani at that time.. Only the target has changed.. leftist morons are still screaming the same ghisa pita tune.

[@hareshmehta1772]

Don't forget Tatas were involved in ministry setting (Radia tapes).

[@alexjacob1679]

Understand that the total GST collection for 2021-22 was Rs. 14,76,000 crore. Any idea what percentage of the above represents the ‘Select items’ picked up by Oxfam?

[@rajatsingh3195]

India per capita adult wealth is $14000 in mean term and in median term it is $3200 this suggest us that inequality is vast in India This is according credit Suisse

[@choamit7]

I possible reason for the average income calculation may be that GDP and GDP per capita are shown by reducing the value based on inflation from 2011 and value shown on Oxfam report and govt gst collection are based on current value. Desclaimer: i know that i could be totally wrong here.

[@Inevitable-Indic-revival]

"you cant trust my mental calculations".... SIR.. you have my respect !

[@tanujd4081]

What will we do without u , Nicely thought of and so well explained 👏 We need a 100 more years from u and a 100 more like u

[@dramatispersonae1315]

One type of tax we do need is inheritance tax for the super wealthy. People should not simply pass on billions without paying back anything to society.

[@VivekSinghkr]

Thanks Shekhar sir, I love you and the team bringing such great work. It helps me to have the right reasoning with my friends and definitely gain knowledge

[@priyanjalimitra5092]

Thank you for watching...best wishes, SG

[@kalpavrukshg8853]

I just know basic economics but once I was thinking if we distribute all the wealth from Rich to poor in short period how will other variables react? Like we might have hyper inflation as there will be too much money in the market but no supply of goods. In that case how will poor man's life improve? Can someone one please correct me or explain it in a better way

[@PK-tt5kk]

I am no expert. From what I understand. Wealth redistribution will only have temporary positive effects on the poor. Real economic gains can only be made if the poor are able to get the right resources and right incentives to become.more productive. For eg one main investment is education. If the government is able to educate all the poor. They can then gain knowledge to increase their yields in the farm or move into sectors where more money can be made. If wealth is redisbuted but the poor are not educated & not structire is created where they can become more productive..then wealth redistribution will have no effects.

[@elizabethvarghese5511]

Help those belonging to the bottom section of the society to set up productive industries. Everyday, we are using products of daily living (like bathing soaps, cleaning solutions, packed food products and tooot brushes , to name a few) of the big business companies, which come with attractive brand names and flashy advertisements. If these can be produced by self- help groups by the economically disadvantaged ( with governmental support), that will go a long way in the progress of the villages and the urban poor. If only the self- help groups support each other, by buying among themselves, the marketing of the goods also will be assured to a great extent. Government should provide good quality health and education to all , from the taxes collected from the public, so that people don't have to slip into poverty ( every year, 2% of Indians slip into poverty because of medical expenses).

[@tsvenugopal]

The report also says "Given that this analysis used only select food and nonfood items, the percentages should only be reflective of the differences between the three different income groups as they are not representative of the actual share of income one spends on taxes."

[@shubhamkumarjha4469]

If the inequality keep rising and if it doesn't Stop then surely one day it will lead to revolution

[@dandmello5283]

👍👍👍Shekarji, i did listen to the your analysis. A newspaper reporter/journalist since then...knows very well.....your style of presenting..news&views..and plus plus++++ the content...of The-PRINT....it's great 👍 and thanks 🙏.

[@AmitKumarAlphaX]

EVEN IF OXFAM IS WRONG, INDIA'S GINI COEFFICIENT IS INCREASING, WHICH MEANS THAT THE RICH ARE GETTING RICHER & THE POOR ARE GETTING POORER. REDISTRIBUTION OF WEALTH IS ABSOLUTELY NECESSARY ALONG WITH ITS CREATION, BOTH OF WHICH AREN'T HAPPENING IN INDIA.

[@naveenpdpu]

Ask your Abbu Congress who kept not only poor but uneducated from 1947 to 1991. The traitor Nehru khandhan only fucked our soul but looted our all like communist who must be wipeout from this universe.

[@AmitKumarAlphaX]

@@naveenpdpu BJP WAS THE BIGGEST SUPPORTER OF THE PRE-1991 COMMAND ECONOMY. WHEN CONGRESS BROUGHT THE 1991 LIBERALISATION REFORMS, BJP HAD OPPOSED IT VEHEMENTLY. ANDH BHAKT CHAMCHAANDU LOGON KA GYAAN TO KAM HOTA HAI, PAR RAUB AISE DIKHATE HAIN JAISE SAB PATA HAI. LO, MAAR DIYA AAP KE PICHHWADE ME LAAT!!😂😂😂😂

[@0609Bhuwan]

" Neither is Wealth getting created nor is it being distributed " and yet somehow our GDP keeps growing and the poverty rate keeps falling and we keep giving free grains , free electricity what not.... Have a look at the % of annual budget State & Central governments are spending on subsidies and social welfare... Dont become like Oxfam

[@naveenpdpu]

@@AmitKumarAlphaX Dont lies jitani buddhi ho utna hi hago. The Italian bar dancer opposed it tooth and nail. Narshima Rao and Atal Bihari work together along with MMS. The agent of China communist has been asked to Nehru Khandan for not open Indian economy. Congrss MP stalled house unprecedented on day of budget. Narshima Rao,MMS, Atal Ji and Subarmanyam Swami are main force behind this 1991 opening of Indian economy,.

[@hariramchoudhary9]

The video insinuates a false binary that increased redistribution is necessarily antagonistic to wealth creation. It can be so when it is excessive, but in India there's a lot of low hanging fruit when it comes to the government's ability to still increase wealth redistribution withouth materially impacting wealth creation. Essentially, India should focus on tax compliance. In that sense, indirect taxation can actually help the cause rather than slow it down.

[@nischalsps1]

Wow! Good job. SG we need journalists like you. Calling a spade a spade. I hope his viewership grows. Only people with rational thinking will truely appreciate such reporting.

[@pardeeptandon]

SG: Kindly explain why the rich pay a higher tax as a percentage of their income as Personal Income tax and less percentage of income as GST?....... GST is structured to help the rich and not the poor

[@AmitKumarAlphaX]

SG, NOW THAT YOU'VE RIGHTLY DISSED THE OXFAM REPORT, YOU MUST DO A VIDEO ON RISING WEALTH INEQUALITY IN INDIA, BASED ON RBI REPORTS, NFHS DATA AND THE ILKS. OTHERWISE PEOPLE WILL JUST DERIVE THAT OXFAM IS WRONG & INEQUALITY ISN'T RISING IN INDIA.

[@reddragon100]

So what. Every country is unequal. 1% own 35% of wealth in US. If you tax rich too much, they will leave india.

[@srinisbir8781]

Inequality is not rising in terms of income, but in terms of wealth. THERE IS A BIG DIFFERENCE BETWEEN INCOME AND WEALTH.

[@AmitKumarAlphaX]

@@reddragon100 NOT TRUE. INDIA IS MUCH MORE UNEQUAL THE OTHER COUNTRIES. URBAN PEOPLE HAVE EVERYTHING BUT RURAL AGRARIAN POPULATION HAVE NOTHING. THAT'S NOT THE CASE WITH COUNTRIES LIKE THE US, EU, BRAZIL, RUSSIA, MEXICO, CHINA, S. AFRICA, INDONESIA, VIETNAM, PHILIPPINES & MOST DEVELOPING COUNTRIES. INDIA HAS ONE OF THE HIGHEST WEALTH INEQUALITY AMONG ALL THE DEVELOPING COUNTRIES. THAT'S WHAT I'M TALKING ABOUT.

[@AmitKumarAlphaX]

@@srinisbir8781 NOT TRUE. Both INCOME INEQUALITY & WEALTH INEQUALITY are RISING IN INDIA. FOR EXAMPLE THE URBAN SERVICE SECTOR HAS BEEN GROWING AT THE RATE OF 7-9% FOR THE LAST 30 YEARS WHEREAS THE RURAL AGRICULTURE SECTOR HAS BEEN GROWING AT THE RATE OF 1-4% FOR THE LAST 30 YEARS, WHICH INDICATES THAT THE INCOME GROWTH OF THE URBAN & THE RURAL POPULATIONS HAS BEEN EXCESSIVELY UNEQUAL.

[@reddragon100]

@@AmitKumarAlphaX bro. 45% people are involved in agriculture sector which contributes 15% in GDP. Taking people out of agriculture can be the first step to decrease inequality

[@jaydeepgadhavi5465]

Nice Analysis. I can't really disagree with any of your points in technical terms. However, what if I make a moral argument that corporate tax isn't a direct one. Companies pass on this to the customers in form of increased prices. If I remember in 2019-20, the reduction in corporate was made a few days after the budget was presented in the parliament due to popular pressure. At that time an argument was made that this would incentivize private investment but do we have followed up on that ?

[@sudip_curiousmind]

What exactly is your point?

[@ankur1800s]

Doesn't India have an MRP system that prevents this from happening to basic goods?

[@pardeeptandon]

How can Modi follow up on the favours he gives to his friends and exposure is detrimental to their interests?

[@arjuniyer5047]

You can't raise your prices high enough where the average income earning can't afford. Anyway essential good and services aren't taxed to much

[@jaydeepgadhavi5465]

@@sudip_curiousmind All I'm saying is if the report insinuates that corporate tax is a tax paid by the wealthy, & a debate is built around it, I would disagree and say it's the consumers who essentially pay the corporate tax

[@paddysubramaniam1481]

Oxfam report may not include Shekhar ji in the 1% category ..as he is wearing the same sweater !!😊

[@dinkarsirsi3680]

Well explained. Further, you mentioned that the source for their calculation of 64.3% of GST was 2011-12 data. Well, GST was introduced only in 2017.

[@jaswindersinghnarula4379]

Of course this a headline grabbing report BUT I just want to ask that how much tax did the corporates saved because of lowering of corporate tax rates and how much of that savings they invested in India (for which it was lowered) and not added to their profits? Even Nirmala Sitaraman asked the Indian Industry people that why are they not investing. Please do a CTC on that as well SG sir!

[@sudip_curiousmind]

Are your missing the point that the absolute quantum of tax has gone up?

[@jaswindersinghnarula4379]

@@sudip_curiousmind Tax was not lowered for this purpose. It was stated clearly that they are lowering tax so that corporates could invest more resulting in more job opportunities. And my question is about that part. How much tax saved has been invested in India? And on your point, it is 26% of total direct tax compared to 27%. So the tax collected has not gone up as well but tax saved is huge.

[@shantanukumar9364]

@@jaswindersinghnarula4379 Bhai modi ko gali dedo aap but in chutiyion ki mat suno please request hai meri, yeah na aalag level ki barbadi hai. Look at South Korea, Japan, Germany and China, all of them grew on the back of crony capitalism. Read about the zaibatsu system of Japan. Samsung accounts for more than 20% of South Koreas GDP, Germany mein startups fail kyun hote hai? And China is giving free land, cheap credit, zero environmental laws, and literally slave labor from uyghur camps to companies ran by relatives of CCP officials. How are you going to compete in a dog-eat-dog world without a couple of dogs of your own? Thoda realism lao please.

[@cutekitten4351]

Can't agree more SG This video need to be on TV

[@1591nithin]

Sad to see you quote the misleading tweet of Diva Jain. Oxfam never said that bottom 50% contributes 64% of all GST revenue. It said that for GST revenues of select food and non-food items used by the poor. So, your math analysis is completely misleading. I hope you will issue a clarification

[@vinodhkrishnan]

That's an eye opener for any average non- math , non- economic viewers. That report is as ludicrous as it can be!

[@ishangoyalpec]

One of the most opinionated but intelligent episodes. Some of these organizations deserve their recommendations to be applied specifically to their members.

[@SurajSharma-zi4sn]

Jean Jacques Rosseaow mentioned in this report in the context of Eat the Rich was a utopian idealist.He wanted his country Genoa to idolize the Ancient Spartan society away from any forms of materialism. Adam Smith( father of modern Economics and a moral philosopher) wrote a counter to him at that time "Consumer societies have done more for the poor than any society ever pursuing idealism and puritanism."

[@Ivanhunter1969]

I comment with due respect to Mr. Shekhar Gupta. I fully remember how Mr. Shekhar Gupta was analyzing CAG’s report on so called “Coal Gate”, “2G Scam” and “CWG Scam”. 😊.

[@infoBull]

Comparing CAG with oxfam is like comparing sane person with lunatics.

[@mitradutta62]

Request you to create a news article on corporate tax with 10 years back and current data with rates. It will be enriching for us

[@abhadra]

The report says, "Given that this analysis used only select food and non-food items, the PERCENTAGES should ONLY be reflective of the DIFFERENCES between the three different income groups as they are NOT REPRESENTATIVE of the ACTUAL share of income one spends on taxes." So all that we can impute is that the lower 50% is half as wealthy as the middle 40%, and the middle 40% is a tenth as wealthy as the top 10%, approximately. And for the tax collected from the selected food and non-food items, 64% comes from HOUSEHOLDS in the bottom 50%. Household is not population. Lower-income households often have MORE members. The point is that a GST-based taxation scheme is a consumption tax, and at the basic level, people will consume the same quantity of items (a billionaire may be 1000X times wealthier than a millionaire, but does not eat 1000X times the food in a day). The accepted idea is to have a progressive tax scheme and not a flat tax scheme, which targets the poor to a greater extent. Also, Per-capita GDP has nothing whatsoever to do with average annual income, they are different concepts. Is this difficult to understand?

[@sanjayrmenon7112]

Incredible honest analysis ❤

[@DS-no3dc]

Shekhar Gupta talking like a hardcore capitalist and justifying indirect taxation. That's crazy. His views on Taxation are non-sensical

[@1988dadhich]

I wish mainstream news channels do such analysis. It will change india

[@vivek-hp2jq]

All these reports talk about eating the rich but the sad part is they never talk about how to make poor wealthy.

[@--Dani]

There is a saying in America, “when did a poor person ever give you a job”

[@rogueassassin100]

As if its any different in the so called developed world

[@pramodkulkarni3747]

How is wealth assessed for middle class and poor. Is the land holding and houses valued?

[@cimarrondrive31]

Does it not depend on the dates when the PCI Disha is using vs Oxfam? Maybe Oxfam is using some recent estimate while Diva Jain is using official numbers from the last fiscal year

[@preshant91]

That's a 20% growth annually in Per Capita Income in the country within the year. That's unprecedented and must clearly be spotted by economists or GST collections no?

[@srinisbir8781]

@@preshant91 Its not even 20% growth. It's astronomically high. Usually income distribution has a power law, with heavy tails. So, if lower 50% has a PCI of $2,479.00, then the upper half will have a PCI of several folds higher than that. By this arithmetic, there is no way the overall PCI of India is $2100.00. It must come to about $5000.00. My assumption is that the top 50% PCI is at least 4 times the bottom 50% PCI.

[@PK-tt5kk]

Wealth Inequality is a real economic issue. It does lead to stagnation as the wealthy can not increase their consumption any further. Though the only good solution is to have a higher & more progressive tax level & brackets.

[@vemmanr]

Nice opinion making Shekharji... Right into the logic of middle-class audience brilliant! Let's accept Oxfam report is not good & ill-researched. But do we have similar data on Indians that is verifiable too? MoSPI? NSSO? NFHS? Agri census? PS: Has there been an CTC or NI episode on why 81 crore Indians are getting rations? Or on salaries of a common man vs CEOs?

[@STOVE311987]

Isnt there a difference between annual income which obviously means only earning members of the family vs per capita GDP which would include each and every citizen of India. Not sure why this basic point is missed here.

[@pardeeptandon]

Today global trade is moving away from " GLOBALISATION" to consolidating in 3 tax-free trading blocks NAFTA, EU, and RCEP, nullifying the Indian advantage of having a significant market curtsy our disadvantaged population.

[@0609Bhuwan]

Dont confuse Tax Free with Duty Free

[@pardeeptandon]

@@0609Bhuwan: Even if the correct word may be Duty-Free, as I am not sure they exempt other taxes too. Still, it remains a BLUNDER committed by MODI in 2019 by not joining RCEP.

[@harshalshah8845]

Amazing analysis! This video will be my response to people around me blabbering Oxfam stats :)

[@priyanjalimitra5092]

Thank you for watching...best wishes, Shekhar

[@adityaaman3794]

Savage. Was much needed. Thank you for doing this episode !

[@AmitKumarAlphaX]

SOME PEOPLE ARE NOW SAYING THAT WEALTH INEQUALITY IS RISING BUT INCOME INEQUALITY ISN'T RISING IN INDIA. BUT THE TRUTH IS THAT BOTH INCOME INEQUALITY & WEALTH INEQUALITY ARE RISING IN INDIA. FOR EXAMPLE, THE URBAN SERVICE SECTOR HAS BEEN GROWING AT THE RATE OF 7-9% FOR THE LAST 30 YEARS WHEREAS THE RURAL AGRICULTURE SECTOR HAS BEEN GROWING AT THE RATE OF 1-4% FOR THE LAST 30 YEARS, WHICH INDICATES THAT THE INCOME GROWTH OF THE URBAN & THE RURAL POPULATIONS HAS BEEN EXCESSIVELY UNEQUAL.

[@eshankumar1999]

BHAI CHILLA KYON RAHE HO

[@AmitKumarAlphaX]

@@eshankumar1999 Taki BEHRON ko SUNAAI de??

[@shubs3566]

"my mom told me I'm nicer looking..." Guptaji in form...😄

[@lowlife_nolife6047]

I mean , most of the wealth that the rich hold is in form of non liquid assets like Shares and Stocks and e.t.c. What the focus of policymakers should be to ensure that the government remains a TRUE monopoly of the people. I.E. Corruption and the likes to be removed and well , ensuring the rich are NOT able to invest in policymaking,or have even the slightest amount of control over the government.

[@nsa_200]

Interesting analysis. Everything is quite bang-on but SG could give the actual/estimated wealth gap %

[@rajupatel-xt3vo]

Thanks a lot sir 🙏🙏 This is probably the best CTC for me,

[@chetnaparashar6460]

This is the type of content that should go viral. This is the real utlilisation of social media.

[@sankalp6872]

The reactions to the Oxfam report will tell us about the state of FINANCIAL LITERACY in India. Vividly speculative numbers are good for headline hunting. India isn't resource-rich like the middle east or Scandinavia. Our pathways to WEALTH are our entrepreneurs. Are the two famous "AA"s stealing from anyone? The flight tickets of the OXFAM CEO, too, can pay for the electricity bills of the destitute, but that won't be a colorful graphic in the report.

[@hariramchoudhary9]

Do you have any thoughts on what it is that Adani's companies do so remarkably better than their competitors so as to explain the blazingly fast rise of their market share? What is his moat? Is that moat a 'resource' or 'innovative zeal'?

[@sankalp6872]

@@hariramchoudhary9 The answer is that they haven't done anything remarkable or better. You are wrong regarding the "fast rise of their market share". I hope you know the difference between market share and market capitalisation. The perception around Adani-Ambani have fuelled a stock rally. In fact, Adani enterprises is trading at 352 PE. But as every sane person knows, share price doesn't mean cash.

[@theindianliberal]

@@hariramchoudhary9 Adani's shares are highly overvalued. One downtrend and quite a lot of his wealth will be gone.... Basically most of this wealth is on paper.....

[@abhishek_gupta1990]

Oxfam is sham! Let’s not bother about them😅

[@yoda5084]

I used to think Oxfam is a sound respectable institution

[@dhananjaygurjar]

Thanks SG for the CTC.👍