CURRENT AFFAIRS

Detailed explanation-1: -The Oxfam report based on the index said India features among the lowest performers on health spending again. The index showed that it has dropped a further two places in the rankings, to 157th, the 5th lowest in the world.

Detailed explanation-2: -India improves its ranks to 123 on the Commitment to Reducing Inequality Index 2022. India has improved its ranking by 6 places in the recently released Commitment to Reducing Inequality Index (CRII) 2022.

Detailed explanation-3: -India’s top 1% owned more than 40.5% of its total wealth in 2021, according to a new report by Oxfam. In 2022, the number of billionaires in the country increased to 166 from from 102 in 2020, the report said. Meanwhile, it added that the poor in India “are unable to afford even basic necessities to survive".

Detailed explanation-4: -According to the recent Commitment to Reducing Inequality Index (CRII) 2022, India has ranked 123 out of 161 countries in reducing inequality.

Detailed explanation-5: -Oxfam India’s report on inequality in India released on Monday finds that just 5 per cent of Indians own more than 60 per cent of the country’s wealth, while the bottom 50 per cent of the population possess only 3 per cent of the wealth.