Sitharaman only the 2nd woman to present Union Budget

Srinagar, May 21: Two Border Security Force (BSF) personnel were killed and their weapons snatched by militants in the Pandach area on the outskirts of Srinagar yesterday.

According to IGP Kashmir Vijay Kumar, the two BSF jawans, who were on road surveillance deployment, were fired upon by two of the three terrorists on a motorcycle around 5:15 pm on the 90-Ft Road at Pandach, near Soura. 

They were critically injured and later succumbed to injuries. The terrorists escaped after taking away one AK rifle and one INSAS. Efforts were underway to trace the terrorists.

He said that two jawans, Constable Rana Mandol and Constable Ziaul Haque of ‘C’ company of 37th battalion, were injured and they later succumbed.

“The terrorists managed to take away the weapons of the martyrs. Area has been cordoned off and the search for the terrorists is on”, he said.

Residents around the spot said that the two soldiers were buying chicken for Iftar from a mutton dealer, around 300 meters away from their deployment location when three militants on a motorcycle stopped and opened fire on them.

Medical Superintendent SKIMS Dr Farooq Jan said that both the jawans were brought dead to the tertiary care hospital.

Senior Police officials said it was a “clear case of security lapse” as the two jawans had left their spot of deployment on Srinagar-Kargil-Leh road and gone to a shop 500 metres away on a different road.

They said that possibility of terror attacks and subsequently claims by the new outfit TRF had been flashed to all forces earlier this week.

The terror strike in the capital city has occurred a day after an encounter in downtown Srinagar, where two Hizbul Mujahideen militants, including the top wanted Junaid Sehrai, had been killed on Tuesday.

In the last one month, five Army and Police personnel and two militants had got killed in an encounter in Handwara area of Kupwara, a day before three CRPF men were killed in another attack.

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.

Washington, Jan 12: The US State Department has described the recent visit of envoys of 15 countries to Jammu and Kashmir as an "important step" but expressed concern over the continued detention of political leaders and restrictions on internet in the region.

Alice Wells, the Acting Assistant Secretary of State for South Asia, tweeted on Saturday that she was "closely following" the visit of the envoys to Kashmir, describing it an "important step".

Wells, who will be visiting India this week, added: "We remain concerned by detention of political leaders and residents and Internet restrictions. We look forward to a return to normalcy."

The group of diplomats made a two-day visit to the Union Territory on Thursday and Friday to see the conditions thereafter Jammu and Kashmir's special constitutional status was removed last August.

While some US politicians and media have criticised the action by Prime Minister Narendra Modi's government, the US has officially appeared to support the abrogation of the Constitution's Article 370 on the special status.

Last October, Wells told the House of Representatives Subcommittee on Asia and the Pacific that the State Department supported the objectives behind it, while not directly mentioning the abrogation.

"The Indian government has argued that its decision on Article 370 was driven by a desire to increase economic development, reduce corruption, and uniformly apply all national laws in Jammu and Kashmir, particularly in regard to women and minorities.

"While we support these objectives, the Department remains concerned about the situation in the Kashmir Valley, where daily life for the nearly eight million residents has been severely impacted since August 5," she had said.

Washington has banked on India's democratic institutions - the judiciary and public debates - being able to steer the country.

Bearing this out, the Supreme Court last week ordered the government to review its decision to shut down the internet in Kashmir, which it declared was a fundamental right, thus taking a step to address Wells's concern.