BJP MP demands expulsion of Yashwant, Shatrughan from party

Davos, Jan 20: India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian billionaires is more than the full-year budget, a new study said on Monday.

Releasing the study 'Time to Care' here ahead of the 50th annual meeting of the World Economic Forum (WEF), rights group Oxfam also said the world's 2,153 billionaires have more wealth than the 4.6 billion people who make up 60 per cent of the planet's population.

The report flagged that global inequality is shockingly entrenched and vast and the number of billionaires has doubled in the last decade, despite their combined wealth having declined in the last year.

"The gap between rich and poor can't be resolved without deliberate inequality-busting policies, and too few governments are committed to these," said Oxfam India CEO Amitabh Behar, who is here to represent the Oxfam confederation this year.

The issues of income and gender inequality are expected to figure prominently in discussions at the five-day summit of the WEF, starting Monday. The WEF's annual global risks Report has also warned that the downward pressure on the global economy from macroeconomic fragilities and financial inequality continued to intensify in 2019.

Concern about inequality underlies recent social unrest in almost every continent, although it may be sparked by different tipping points such as corruption, constitutional breaches, or the rise in prices for basic goods and services, as per the WEF report.

Although global inequality has declined over the past three decades, domestic income inequality has risen in many countries, particularly in advanced economies and reached historic highs in some, the Global Risks Report flagged last week.

The Oxfam report further said "sexist" economies are fuelling the inequality crisis by enabling a wealthy elite to accumulate vast fortunes at the expense of ordinary people and particularly poor women and girls.

Regarding India, Oxfam said the combined total wealth of 63 Indian billionaires is higher than the total Union Budget of India for the fiscal year 2018-19 which was at Rs 24,42,200 crore.

"Our broken economies are lining the pockets of billionaires and big business at the expense of ordinary men and women. No wonder people are starting to question whether billionaires should even exist," Behar said.

As per the report, it would take a female domestic worker 22,277 years to earn what a top CEO of a technology company makes in one year.

With earnings pegged at Rs 106 per second, a tech CEO would make more in 10 minutes than what a domestic worker would make in one year.

It further said women and girls put in 3.26 billion hours of unpaid care work each and every day -- a contribution to the Indian economy of at least Rs 19 lakh crore a year, which is 20 times the entire education budget of India in 2019 (Rs 93,000 crore).

Besides, direct public investments in the care economy of 2 per cent of GDP would potentially create 11 million new jobs and make up for the 11 million jobs lost in 2018, the report said.

Behar said the gap between rich and poor cannot be resolved without deliberate inequality-busting policies, and too few governments are committed to these.

He said women and girls are among those who benefit the least from today's economic system.

"They spend billions of hours cooking, cleaning and caring for children and the elderly. Unpaid care work is the 'hidden engine' that keeps the wheels of our economies, businesses and societies moving.

"It is driven by women who often have little time to get an education, earn a decent living or have a say in how our societies are run, and who are therefore trapped at the bottom of the economy,” Behar added.

Oxfam said governments are massively under-taxing the wealthiest individuals and corporations and failing to collect revenues that could help lift the responsibility of care from women and tackle poverty and inequality.

Besides, the governments are also underfunding vital public services and infrastructure that could help reduce women and girls' workload, the report said.

As per the global survey, the 22 richest men in the world have more wealth than all the women in Africa.

Besides, women and girls put in 12.5 billion hours of unpaid care work each and every day -- a contribution to the global economy of at least USD 10.8 trillion a year, more than three times the size of the global tech industry.

Getting the richest one per cent to pay just 0.5 per cent extra tax on their wealth over the next 10 years would equal the investment needed to create 117 million jobs in sectors such as elderly and childcare, education and health.

Governments must prioritise care as being as important as all other sectors in order to build more human economies that work for everyone, not just a fortunate few, Behar said.

Oxfam said its calculations are based on the latest data sources available, including from the Credit Suisse Research Institute's Global Wealth Databook 2019 and Forbes' 2019 billionaires list.

New Delhi, Jul 26: Nidan Singh Sachdeva, the Afghan Sikh who was kidnapped a month ago and released recently, arrived here earlier in the day and narrated the ordeals that he faced at the hands of abductors and also thanked the Indian government for bringing him back to his 'motherland'.

Facing threats from Pakistan-backed Taliban, eleven members of Sikh community from Afghanistan, who were granted short-term visas by Indian Embassy in Kabul, including Sachdeva, who was abducted from a gurudwara in Paktia province last month, touched down in New Delhi on Sunday afternoon.

Speaking to news agency on his return, an emotional Sachdeva, said, "I don't know what to call Hindustan -- whether it is my mother or my father -- Hindustan is Hindustan."

"I was abducted from the gurudwara and 20 hours later, I was covered with blood. I was tied to a tree as well. They used to beat me and ask me to convert into a Muslim. I repeatedly told them that why should I convert, I have my own religion," he said while describing
Nidan Singh thanked Government of India for bringing him here.

"I am more than thankful to the Indian government for bringing us here to our motherland. I have no words to describe my feelings here. I arrived here after much struggle. The atmosphere of fear prevails there.

Gurudwara is where we can be safe but a step outside the Gurdwara is fearful," he said.
"They used to beat me every day and every night," he said further and added, "It is because of sheer happiness, I am speechless. I am very grateful to them."

Ministry of External Affairs recently announced that India has decided to facilitate the return of Afghan Hindu and Sikh community members facing security threats in Afghanistan to India.
The decision comes four months after a terror attack at a gurdwara in Kabul's Shor Bazaar killed at least 25 members of the community.

India has condemned the "targeting and persecution" of minority community members by terrorists in Afghanistan at the behest of their external supporters remains a matter of grave concern.

Leaders of the Afghan Sikh community have appealed to the Indian government to accommodate the Sikhs and Hindus from Afghanistan and grant them legal entry with long term residency multiple entry visas.

Once a community of nearly 250,000 people, the Sikh and Hindu community in Afghanistan has endured years of discrimination and violence from extremists, and the community is now estimated to comprise fewer than 100 families across the country.