1.7 lakh people lost jobs every hour last April Top 100 Billionaires wealth increased Report


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1.7 lakh people lost (*100*) every hour last April: Report

While the wealth of countries high 100 billionaires increased by Rs 12.97 lakh crore since March 2020, about 1.7 lakh people lost their (*100*) every hour in April 2020 alone. Oxfam India’s CEO Amitabh Behar says, “To contextualise the inequity in what is the biggest economic crisis in the history of independent India, the wealth of the nation’s top 100 billionaires went up by Rs 12,97,822 crores since March 2020, while in April alone over 170,000 people lost their jobs every hour. Just this increase in wealth could sustain the NREGA wages (National Rural Employment Guarantee Act) for 10 years!”

Behar says that over 40-50 million seasonal migrants working in building websites, manufacturing unit manufacturing items and companies actions had been left to fend for themselves throughout the 2020 lockdown.

“While affluent Indians stranded abroad were flown back and quarantined in hotels, it was only at the end of May 2020, that buses and Shramik special trains were arranged for the relocation of migrant workers,” he mentioned.

The India version of Oxfam’s newly launched report ‘The Inequality Virus,’ elucidates how amid spiralling unemployment, dire meals insecurity, misery migration in addition to reverse migration, the super-rich elite continued to amass wealth whereas billions struggled to make ends meet.

The findings in “Inequality Virus’ stories say that the pandemic has hit India’s casual employees probably the most. Out of a complete 122 million who lost their (*100*), 75 p.c, which accounts for 92 million (*100*), had been lost within the casual sector.

During the mass exodus on foot, over 300 casual employees died from hunger, suicides, exhaustion, street and rail accidents, police brutality and denial of well timed medical care.

According to a Stranded Workers Action Network’s report in April, 2020, 50 p.c of the respondents had no rations left even for a single day; whereas 96 p.c had not obtained rations, 70 p.c had not obtained cooked meals from the federal government; and 78 p.c of the respondents had lower than INR 300 left.

The National Human Rights Commission recorded over 2582 instances of human rights violation as early as within the month of April 2020.

As per the findings,the aid packages for the casual sector and migrant employees had been additionally minuscule. Additional expenditure of the federal government within the first aid package deal introduced was solely 0.5 p.c of the GDP and the full extra public spending promised by all of the aid measures introduced by the top of May 2020 amounted to solely round 1 p.c of the GDP.

The report discovered that the brunt of job loss was skilled by the feminine workforce and 17 million girls lost their (*100*) simply in April 2020.

Unemployment for ladies rose by 15 p.c from a pre-lockdown stage of 18 p.c and will end in a loss to India’s GDP of about 8 p.c or $ 218 billion.

Women who had been employed earlier than the lockdown are additionally 23.5 proportion factors much less more likely to be re-employed in comparison with males within the post-lockdown part.

A examine stories that regardless of having a maintain of 77 million tonnes of meals grain, greater than 3 times the buffer inventory requirement earlier than the lockdown, solely 2.2 million tonnes of this had been distributed to states. Eventually, public shares increased to greater than 100 million tonnes by the start of June 2020, which meant that among the inventory successfully rotted within the storage amenities.

Moreover, what was introduced by means of the PDS system and honest value outlets weren’t relevant for many of the migrants exterior their dwelling city on account of sedentary bias that makes ration playing cards made within the supply state of the migrants unusable within the vacation spot state, the report mentioned.

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