Equalizing The Inequality

As it speaks in concrete terms, statistics is definitely an eye opener; as it tries to approach abstract prototypes of the economy. The World Inequality Report speaks for itself by stating that-

10% and 1% of elite Indians grip the country’s 57% and 22% national income respectively. On the other unfortunate end, the 50% of basal Indians pacify their needs by holding only 13% of the national income; collectively stating that India is amongst the most unequal countries on the globe.

The quality of data released by the government had consistently tempered down which has hampered the recent range of inequality assessment according to the report. But there are certain spots which don’t necessarily need an economic vision to assess this very situation; by which I mean- We can intensively see the private participation in every societal sector, the technology has made it possible for us to observe the money being made by the “already esteemed” ones on one hand and poor ones drenching down in deeper poverty on the other. This does not intentionally concern only the national income but also the public wealth.

Income inequality is nothing but a reflection of the shrunk wealth in the economy. In the case of India; the pre-Independence wealth was thoroughly looted; the post-Independence one was exploited by the initial “socialist-engineered” economic models, the late 90’s was ruffled by the balance of payment, which the government initiated to resolve by opening up the economy in every way possible which resulted in concentration of assets in the private hands of which repercussions; good or bad were now just being configurated till then we hit the dropdown- the pandemic!

On the contrary, India is being projected towards nascent recovery from the same at one side; the WPI inflation hits the double digits with elevated CPI and the core inflations as world is still putting together the pieces of the puzzle named Omicron.

Reports are favored to be published only when they meet the most probable domain of actuality. Yes, they seldom dare to speak the untruth, for a developing nation like ours ; economic stability comes with conscious understanding of the diversified Indian society. For staging up the income inequality is not only the sole purpose but the sources of this very income also needs to be “greened” as India looks to fulfill her sustainable emission targets by 2030.

Lastly democratic government, with bureaucracy which intentionally efficient in nothing but bridging the the persistent and created gaps within the society; is indeed need of time.