Cong demands PM Modi’s apology for ‘insulting’ Bengaluru

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, Jan 14: The curative petitions of Vinay Sharma and Mukesh, who were sentenced to death in the Nirbhaya gang rape and murder case, was on Tuesday rejected by a five-judge Supreme Court Bench led by Justice N.V. Ramana.

In a three-page order, the Bench concluded, after an in chamber consideration that began about 1.45 p.m., that there was no merit in their pleas to spare them from the gallows.

“We have gone through the curative petitions and relevant documents. In our opinion, no case is made out within the parameters indicated in the decision of this Court in Rupa Ashok Hurra versus Ashok Hurra. Hence, the curative petitions are dismissed,” the court held.

Curative is a rare remedy devised by a Constitution Bench of the Supreme Court in its judgment in the Rupa Ashok Hurra case in 2002. A party can take only two limited grounds in a curative petition - one, he was not heard by the court before the adverse judgment was passed, and two, the judge was biased. A curative plea, which follows the dismissal of review petition, is the last legal avenue open for convicts in the Supreme Court. Sharma was the first among the four convicts to file a curative.

The Bench also rejected their pleas to stay the execution of their death sentence and for oral hearing in open court.

Besides Justice Ramana, the Bench comprised Arun Mishra, Rohinton Nariman, R. Banumathi and Ashok Bhushan.

Curative petitions were filed in the Supreme Court by both convicts on January 9. The petitions had come just days after a Delhi sessions court schedulled the execution of all the four convicts in Tihar jail on January 22.

Sharma and Mukesh, in separate curative petitions, argued that there was a “sea change” in the death penalty jurisprudence since their convictions. Carrying out the death sentence on such changed circumstances would be a “gross miscarriage of justice”.

In his plea, Sharma said the Court had commuted the death penalty in several rape and murder cases since 2017, when it first confirmed the death penalty to the Nirbhaya convicts.

“fter the pronouncement of judgment in 2017, there have been as many as 17 cases involving rape and murder in which various three-judge Benches of the Supreme Court have commuted the sentence of death,” the petition contended.

The Supreme Court recently dismissed a review petition filed by Akshay Singh, another of the four four condemned men, to review its May 5, 2017 judgment confirming the death penalty. It also refused his plea to grant him three weeks' time to file a mercy petition before the President of India.

A Bench led by Justice R. Banumathi had said it was open for the Nirbhaya case convicts to avail whatever time the law prescribes for the purpose of filing a mercy plea.

Akshay (33), Mukesh (30), Pawan Gupta (23) and Sharma (24) had brutally gang-raped a 23-year-old paramedical student in a moving bus on the intervening night of December 16-17, 2012. She died of her injuries a few days later.

The case shocked the nation and led to the tightening of anti-rape laws. Rape, especially gang rape, is now a capital crime.

One of the accused in the case, Ram Singh, allegedly committed suicide in the Tihar jail. A juvenile, who was among the accused, was convicted by a juvenile justice board. He was released from a reformation home after serving a three-year term.

Dubai, Mar 18: Emirates, one of the world's biggest international airlines, has asked pilots to take unpaid leave to help it mitigate the impact of the coronavirus pandemic that has shattered demand for global travel.

"To this end you are strongly encouraged to make use of this opportunity to volunteer for additional paid and unpaid leave," the airline said in an internal email to pilots, seen by Reuters.

Emirates earlier this month asked some staff to take unpaid leave, although at that time it was not available to pilots.