Editorial

Economic Inequality Is A Curse For India

Some of the concerns have been reiterated by RSS Sarkaryavah (General Secretary) Dattatreya Hosabale recently. 

Time has come when the economic issues and concerns should be addressed and the required, necessary reforms should also be carried out. 

Nearly nine years have passed since Prime Minister Modi came to power. Now the National Executive of BJP has also decided the strategy to win the 2024 General Elections. 

Many experiments have been done in the economy. “India is moving towards becoming self-reliant” claims government.

Today India is manufacturing and producing indigenous train ‘Vande Bharat’ within the country itself. 

We are the second largest country in the world in making mobiles. India ranks third after Japan in automobiles. We are the first or second country in food production.

India is the third largest and widest purchasing power country in the world. Our import-export balance is improving. 

We have foreign exchange reserves of more than 550 billion dollars and most of the foreign investment has happened in India. 

History will always remember former Prime Minister PV Narasimha Rao and the then Finance Minister Dr. Manmohan Singh for economic reforms, because after that period our economy is open, license rule is almost over, the era of globalization has started.

 Today the result is in front that India is actively thinking of a $5 trillion economy and by 2026 this target should also be achieved. 

But economic disparities and inequalities are still there in India. For example, only 1 percent of the wealthy have more than 40 percent of the country’s wealth and resources. 

The poorest 50 percent of the country’s population owns only 3 percent of the property. 

About 72 percent of the country’s wealth and resources are with the top 10 rich. The number of new billionaires has reached 166 in 2022. 

Only 100 people have money equal to the national budget of 18 months, about 54.12 lakh crore rupees, while 25-26 crore Indians are still cursed to live below the poverty line. 

When will this economic inequality remove from India?

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