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Wealth of India's richest 1% more than 4-times of total for 70% poorest: Oxfam

Updated : January 21, 2020 02:50 PM IST

India's richest one percent hold four times more wealth than the 70 percent bottom of the country’s total population.

According to Oxfam's 'Time to Care' report, the cumulative wealth of 63 Indian billionaires is higher than the country’s total union budget (Rs 2442200 crore) for FY19.

World's 2,153 billionaires have more wealth than 60 percent of the total population. Women and girls put in 3.26 billion hours of unpaid care work every day as per the report.

The compensation of a woman's unpaid care work globally adds up to $10.8 trillion annually. 42 percent of women are unemployed because they are solely responsible for all the caregiving as opposed to just 6 percent of men.

A female domestic worker will take 22,277 years to match a tech CEO’s annual pay. The report also highlights how the government is under-taxing the richest individuals and companies.
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