The ICC on Thursday announced equal prize money for men's and women's teams at its global events in a bid to bring in pay parity, ushering in a new era in world cricket.
In the last 50 over men's World Cup, champions England got $4 million and runners-up New Zealand received $2 million.
"The International Cricket Council (ICC) today announced equal prize money for men's and women's teams at ICC events. The decision was taken at the ICC Annual Conference in Durban, South Africa and ensures the ICC Board fulfilled its commitment to reaching prize money equity by 2030 well ahead of schedule," the ICC said in a statement.
"Teams will now receive equal prize money for the equivalent finishing position at comparable events as well as the same amount for winning a match at those events," it further stated.
ICC Chair Greg Barclay said: "This is a significant moment in the history of our sport, and I am delighted that men's and women's cricketers competing at ICC global events will now be rewarded equally.
"Since 2017 we have increased prize money at women's events every year with a clear focus on reaching equal prize money and from here on in, winning the ICC Women's Cricket World Cup will carry the same prize money as winning the ICC Men's Cricket World Cup and the same for T20 World Cups and U19s too."
Barclay added, "Cricket is genuinely a sport for all and this decision from the ICC Board reinforces that and enables us to celebrate and value every single player's contribution to the game equally."
BCCI secretary Jay Shah played an active role as the head of Financial & Commercial Affairs Committee (F&CA) in formulating the policy having done the same in his own board last year.
"I thank the fellow Board members for their support in helping achieve this important endeavour. Let's work towards a future where cricket continues to thrive across the globe."