DAVOS 2020: #TimeToCare

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 INR 24,42,200 crore, revealed a new report from Oxfam ahead of the World Economic Forum (WEF) in Davos, Switzerland on 20 January 2020. 

Oxfam’s report, ‘Time to Care’ along with India focused supplement,shows how our sexist economies are fuelling the inequality crisis —enabling a wealthy elite to accumulate vast fortunes at the expense of ordinary people and particularly poor women and girls.
 

DID YOU KNOW?

• The top 1% of Indians hold more than 4 times the amount of wealth held by 953 million people (or the bottom 70% of the population)
• It would take a female domestic worker 22,277 years to earn a top CEO of a Tech company, makes in one year. With earnings pegged at INR 106 per second, would make more in 10 minutes than what the domestic worker would make in one year.
• 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 INR 19 lakh crore a year; which is 20 times the entire education budget of India in 2019 (INR 93,000 crores).
• Direct public investments in the care economy of 2% of GDP would potentially create 11 million new jobs. This would make up for the 11 million jobs lost in 2018.

IMPORTANT LINKS

1. #TimeToCare Global Report

2. #TimeToCare India Supplement

3. #TimeToCare Global Press Release

4. #TimeToCare India Press Release

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