Most Indians want to tax the rich, companies that profited during covid: Survey

  • Economic and social disruptions caused by covid-19 have exacerbated inequalities in India. CMIE estimates that over 10 million jobs vanished in the second wave and 97% of households saw their incomes drop. The impact, while devastating overall, has been grossly unequal

Livemint
Updated27 Jan 2022, 01:44 PM IST
More than 90% of participants demanded budget measures to combat inequality such as universal social security, right to health, and expansion of budget to prevent gender-based violence.
More than 90% of participants demanded budget measures to combat inequality such as universal social security, right to health, and expansion of budget to prevent gender-based violence.

NEW DELHI: More than 80% of Indians support a tax on the rich and corporations who earned record profits during the covid-19 pandemic, a nationwide survey by Fight Inequality Alliance India (FIA India) has revealed.

About 84% want the government to place a 2% covid-19 surcharge on individuals earning more than 2 crore per annum, while 89.3% want a temporary tax on companies making massive profits during the pandemic.

The survey, on expectations of common people from the government ahead of the Union Budget 2022-23, received 3,231 inputs from 24 states.

Further, more than 90% of participants demanded budget measures to combat inequality such as universal social security, right to health, and expansion of budget to prevent gender-based violence revealed the survey by FIA India, an alliance of NGOs, civil society, environmental groups, trade unions and social movements to fight the growing crisis of inequality.

A global study by Fight Inequality Alliance showed that the wealth of Indian billionaires has more than doubled during the covid-19 pandemic while 46 million people are estimated to have fallen into extreme poverty in 2020 (nearly half of the new global poor). This means the richest 98 billionaires own the same wealth as the bottom 40% of Indian society.

As per reports, economic and social disruptions caused by covid-19 have exacerbated inequalities in India. CMIE estimates that over 10 million jobs vanished in the second wave and 97% of households saw their incomes drop. The impact, while devastating overall, has been grossly unequal.

While the wealth of Indian billionaires has more than doubled during the covid-19 pandemic, 46 million people are estimated to have fallen into extreme poverty in 2020, according to Oxfam India report.

Anjela Taneja, lead, Fight Inequality Alliance India, said, “The Union Budget 2022-23 can potentially provide several measures to fight inequality. The stark inequalities exacerbated by Covid-19 have started a global wave of protests to make the rich pay their fair share. The government of India can listen to the people and make provisions for social security, health, and well-being through the budget.”

On where the government should allocate additional funds in the upcoming budget, 94.3% respondents in the survey want the government to provide universal minimum social security, including health and maternity benefits, accident insurance, life insurance, and pension to all unorganized workers. In the case of scheduled caste and schedule tribe, the percentage increases to 97.9% and 97%, respectively.

The survey also highlighted that 89% of the respondents want the government to impose fines on private companies that do not fulfill environmental norms, 94.4% wants the government to introduce Right to Health.

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First Published:27 Jan 2022, 01:44 PM IST
HomeMoneyPersonal FinanceMost Indians want to tax the rich, companies that profited during covid: Survey

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