Modi government’s policies for the development of the country are highly defective, since it works for the rich and against the poor, driving inequality to make India among the most unequal countries of the World. Top 10 per cent of the affluent elite are earning on an average twenty times more than the bottom 50 per cent of the population with an average earning of merely little less than Rs 149 per day.The World Inequality Report 2022, just released by the Paris-based World Inequality Lab, has revealed this shocking data as against the recently released National Multidimensional Poverty Index (MPI) report 2021, which said only 25.01 percent of India’s population as “multidimentionally poor”. The level of extreme poverty has more than doubled, and their earning in the national income has even gone down 13 per cent. Thus India stands out as a poor and very unequal country with its affluent elites.The top 10 per cent of the affluent elites are earning Rs 11,66,520 yearly while the bottom 50 per cent merely Rs 53,610. This top 10 per cent are holding 57 per cent of the national wealth. If we compare this affluent elite population with top 1 per cent of the super affluent elite, it would give a picture in which Modi’s policies could be seen working more for the super rich. This one per cent population is holding 22 per cent of the total national income.It is in this backdrop, one is compelled to recall the allegation leveled against our Prime Minister Narendra Modi that he has been working for the super rich corporate houses. We wish the allegations to be untrue, but the way policies are working for this super rich section, which includes the policies of economic reform, such as labour reforms, farm reforms, bank reforms, insurance reforms and so on, points clearly towards somewhere something is wrong.
Source link
