4 accused in Hyderabad rape-murder case killed in encounter: Police

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.

Bewngaluru, Jun 23: Karnataka Chief Minister B S Yediyurappa on Tuesday said Covid-19 related fatalities in the state was far less compared to other major states, as he called on people and front line corona warriors infected by the virus not to lose courage.

The Chief Minister made the statement following the alleged suicide of a constable attached with the Karnataka State Reserve Police after he tested positive for Covid-19. "The total number of COVID related deaths in the state is very less compared to other major states.

There is no reason for any infected citizen or government employees to lose courage. The government is always with you," a tweet on the Chief Minister's official twitter handle said.

Of the total of 14,011 deaths reported so far, Maharashtra accounted for the highest with 6,283 fatalities, followed by Delhi with 2,233, Gujarat with 1,684 and Tamil Nadu with 794.

Acknowledging that police form the frontline of corona warriors and were working putting their lives at stake, he said a special Covid-19 testing center is being set up for them and all measures will be taken to provide the best treatment for those infected.

As of June 22 evening, cumulatively 9,399 Covid-19 positive cases have been confirmed in the state, which includes 142 deaths and 5,730 discharges.

The constable, aged about 50 years, was attached with the Karnataka State Reserve Police and was said to be depressed after getting tested positive for Covid-19, sources said.

Expressing condolence over his death, another tweet on the Chief Minister's handle said he has directed officials to to provide all necessary compensation and facilities to the family of the deceased at the earliest. Bengaluru has in the last few days has seen a spike in the number of police personnel getting infected by the virus. At least 74 of them have tested positive in the city and are undergoing treatment, while three have died so far, official sources said.

Bengaluru, Apr 22: The Karnataka government has announced partial relaxation of COVID-19 lockdown norms in the state allowing certain construction activities, manufacturing of packaging materials, courier services, among others, from April 23.

The activities will be permitted only outside the COVID-19 containment zones identified by the government.

Service provided by self-employed people like electrician, IT repair, plumbers, motor mechanics, and carpenters in local areas have also been given exemption.

Tea, coffee and rubber plantation have been allowed to work with 50 per cent workforce, and a similar exemption have been given to processing, packaging, sale and marketing of these produce.

“To mitigate hardship to the public, select additional activities have been allowed,which will come into effect from 00.00 hours of April 23,” Chief Secretary TM Vijay Bhaskar said in an order on Wednesday.

However, these additional activities will be operationalised by District Administrations and BBMP (city corporation in the case of Bengaluru city) based on strict compliance to the guidelines on lockdown measures, it said.

Before operating these relaxations, district administrations and BBMP (city corporation) shall ensure that all the preparatory arrangements on social distancing in offices, work place establishments as also sectoral requirements are in place, it said, adding that relaxations will not apply in containment zones.

Facing a financial crunch, the state government has been eager to kick-start economic activities in the state that had come to halt due to the coronavirus lockdown.

While hospitality services, bars, malls, theatres, shopping complexes, religious and places of worship among others will continue to remain shut, relaxation of norms has been for activities that are linked to essential services such as health, infrastructure and agriculture.

As per the order, while, public transportation will continue to remain suspended till May 3,private vehicles with passes for emergency services and personnel commuting with passes to places of work and back will be allowed.

Activities permitted include construction of roads, irrigation projects, buildings and all kinds of industrial projects, including MSMEs, in rural areas and all kinds of projects in industrial estates, where workers are available on site and no one is required to be brought in from outside.

Also permitted to function are manufacturing units of essential goods – drugs, pharmaceuticals, medical devices, their raw materials and intermediates;

food processing industries in rural areas, coal production (mines and mineral production and activities incidental to mining) besides manufacturing units of packaging materials.