India's richest 1% people own more than 40% of the country's total wealth.

The richest 1% people of India now own more than 40% of the country's total wealth. At the same time, the bottom 50% of the population own just 3% of the wealth, says the Oxfam International’s latest report. From March 2020 to November 2022, billionaires in India have seen their wealth increase by 121% or Rs.3,608 crore per day in real terms, says the Report. Approximately 64% of the total Rs.14.83 lakh crore in Goods and Services Tax (GST) is paid by the bottom 50% of the population in 2021-22. At the same time, only 3% of the GST came from the top 10% says Oxfam report. It also says that, the total number of billionaires in India increased from 102 in 2020 to 166 in 2022.