Two rich versus hundreds of millions


Itamar Levin

Instead of pretending to be surprised, it was necessary to set milestones in advance and act on them We are in the midst of the worst leadership, clerical and managerial failure in the history of the country

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Ambani. $ 75 billion [צילום: אג’יט סולנקי, AP]

Adani. $ 32 billion [צילום: אג’יט סולנקי, AP]

The Corona in India, 10.12.20 / ITV News

A situation in the corona in India
Two rich versus hundreds of millions


Economist: Tycoons continue to exploit the system and get rich on tens of billions of dollars, while the plight of the poor worsens

source: Economist (10/12/2020)

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Some people are much luckier than others. In the past year, while India’s economy is shrinking due to the corona, the wealth of the two richest people in the country has skyrocketed. The wealth of Gautam Adani, who specializes in areas ranging from ports to coal, has doubled to $ 32 billion. Ambani Mine, which deals with oil, communications and trade, is now worth $ 75 billion – a 25% increase.

The share of national wealth reaching the Indian upper echelon is on the rise – as in many countries. Last year it rose 21.4%, the highest rate in the world. The share of the total in the national wealth is 39%, more than in the US and China. Stems from technological innovation or the opening of new markets, but from political influence and a preferential approach to capital.

Just a decade ago, the 20 most profitable public companies in India generated only a third of all profits; Today they stand at 70%. In the years 2018-2014, competition shrank significantly in ten industries, from aviation to tires. Only the stocks of the giant companies have recorded consistent profits in the last decade, and the result is that foreign investors are betting mostly on them instead of on young companies. The Government of India is proud that in April-August foreign investment was recorded at a record high of $ 36 billion, despite the corona; But half of the money, including investments from Facebook and Google, went into the hands of Ambani.

It’s easy to see why, Economist notes: for some reason things work out according to Ambani’s wishes. In 2016 it invested $ 25 billion in the mobile market – and just when it offered free services, the government eliminated 86% of the money police and sent most Indians looking for cash and savings. Rival companies have found themselves embroiled in lawsuits and fines alleging non-payment of taxes.

Adani also enjoys a similar Midas touch. In early 2019, his corporation, which controls a quarter of India’s seaports capacity, competed in a government tender to operate six airports for 50 years. Despite his inexperience, he overcame old companies in the field. Adani has since bought two more airports, including 74% of Mumbai airport shares. It recently won a $ 6 billion government tender for solar energy.

Some of the Indian tycoons thrive not because they have learned to predict the unexpected, but because they have learned how to fool the system – the same system that fails to deal with the poor of the state. In the past year there has been an alarming increase in malnutrition; Unemployment shows signs of some recovery from the deepest recession of the corona, but is far from satisfactory. Before the Corona only 49% of adult Indians worked for pay; The rate now is only 36%.

date: 16/12/20 | Updated: 16/12/20

Itamar Levin

Two rich versus hundreds of millions

The members of the Committee for Vaccines against Corona have completed their work and submitted their recommendations regarding the prioritization of vaccines against Corona in Israel, after heated discussions. Unlike most countries in the world, the risk groups that will be defined in Israel will be 60 and over, and not 65 and over as initially estimated.

Health Minister Yuli Edelstein came (Wednesday, 16.12.20) to the Health Committee’s discussion on the preparation of the health system for corona vaccines, and said: “I am calm about the quality of the vaccines, they have been tested in every possible way and calmly also on the issue of logistical preparation and HMO preparation. “In the coming weeks and months, we will be fighting the false news. People are already starting to spread lies about ‘dangerous vaccines’ and come out with calls not to get vaccinated. These people have no responsibility and conscience, they may cause others not to get vaccinated, get sick and maybe even die.”

The city streets were filled with large ads, glowing bristles, filled with something childish handwriting that read: ‘Father from house to house’, corrections and much more. Big phone number and hope for a livelihood. Dozens of glowing bristles filled the walls of the iron panels at construction sites, on the billboards, at the entrance to the health insurance fund, to Central Station, everywhere.

The Ministry of Health updates that 2,862 infected in Corona have been diagnosed in the last day. Yesterday, 83,227 tests were performed. The rate of positive tests stands at 3.5%. The hospitals hospitalize 381 patients whose condition is defined as severe and 138 of them are respiratory. The death toll rose to 3,022. Yesterday, results of 83,227 tests were also obtained. The percentage of positives in the tests has risen to 3.5%.

Medical Adviser Rabbi Elimelech Firer announced in a letter that Rabbi Chaim Kanevsky, Rosh Yeshiva Rabbi Gershon Edelstein and Hacham Shalom Cohen teach that anyone who can be vaccinated against the corona is right to do so. To date, no call has been made for any vaccination by the Hasidim.

The Age of Joseph
The Age of Joseph
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