In 'Modi Raj', India's inequality levels surpassed that of 'British Raj': Jairam Ramesh
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
The Congress on Tuesday claimed that in "Modi Raj", India's inequality levels have surpassed that of the "colonial British Raj" with "monopolisation" in key sectors and "stagnation" of wages for the average Indian.Congress general secretary in-charge communications Jairam Ramesh attacked the government, citing a report by Capgemini Research Institute which shows that "amidst this large-scale despondency for the Aam Aadmi", India added more than 33,000 new 'khaas Aadmi' millionaires in 2024."Here's what we know about the Modi Government's track record in deepening economic inequality over the past eleven years -- In Modi Raj, India's inequality levels have surpassed that of the colonial British Raj. Monopolisation in key sectors has led to large scale price rise for the people. Wages for the average Indian have stagnated in the last ten years across the spectrum, for everyone from rural agricultural labourers to salaried middle classes," Ramesh said.Now comes a report from Capgemini Research Institute which shows that "amidst this large-scale despondency for the Aam Aadmi India added more than 33,000 new khaas Aadmi millionaires in 2024", he said.India also saw an 8.8% rise in HNWI (high net worth individuals) collective wealth, Ramesh said."In other words, the Modi Raj elite are continuing to grow in record numbers and continuing to grow their wealth at astonishing rates," he said in a post on X."Not only is this unjust and unsustainable, it also represents a threat to our growth. The report also notes that next-gen HNWIs plan to boost offshore assets by 2030. The wealth that is being concentrated among the elite is therefore set to leave India at increasingly more rapid rates," the Congress leader claimed."This is a drain of wealth that India cannot afford, but which is directly attributable to these pernicious inequalities," Ramesh said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
4 minutes ago
- Hans India
TG athletes can gain from new sports policy
If Telangana Chief Minister A Revanth Reddy has his say and goes all-out to implement his ambitious sports agenda, then the State, and its capital city in particular, will boast of world-class sports infrastructure across disciplines in the next couple of years. On the face of it, this is a praiseworthy effort as the bane of the Indian political apparatus has been the insipid promotion of sports, baring a select few. Budgetary allocations for sports have never been inspirational. In fact, the neglect is such that some allocations have been reduced here and there. The ambitiously carved out 32-page sports policy unveiled by Revanth Reddy the other day makes for a wonderful reading as he promises everything under the moon to realise his dream of making the state the hub of international sports. The comprehensive vision lays stress on strengthening governance, boosting infrastructure, and ushering in a breathtaking sports ecosystem that would result in the emergence of medal-winning athletes. There is no doubt that once he goes about the implementation process and enhances budgetary allocations, there would be smiles on the faces of countless sportspersons, coaches and the support staff. Over a period, Telangana can indeed be the envy of the nation going by the manner it brings about the best of infrastructure and sports avenues, including supporting budding talent coming from the poorer strata. Alas, carried away by the moment, Reddy revealed the politician in him when he spoke rather exaggeratedly that Hyderabad would be fit enough to host some Olympic disciplines by 2036. This is too ambitious a remark given that preparing grounds and facilities and putting in place infrastructure of an extraordinary kind for the mega event is no child's play. What the city has, as of now, is not sound enough to host even a fraction of the events that feature in Olympics. He should take cue from his political mentor N Chandrababu Naidu, who, in his effort to provide the best of facilities for the 2002 National Games, came up with the finest stadiums and playing surfaces. Budget was no problem. J Jayalalithaa constructed the magnificent JN stadium in nine months. Can Revanth Reddy emulate these records? The fact is that the stadiums constructed by Naidu like GMC Balayogi athletics stadium, KVBR stadium, tennis complex and the velodrome are all outdated as the wear and tear must have worn them out. They need to be refurbished before the city is good enough to host the National Games two years down the line, towards which Reddy is to approach the Indian Olympic Association. However, realising the herculean task that lies up ahead, the Chief Minister has played his masterstroke-a Public Private Participation (PPP). This will go a long way in helping him realise the dream of nurturing Olympic gold medallists and world champions across disciplines. Adding to this is the smart move to constitute a 14-member Board of Governors to oversee handling of the Telangana Sports Development Fund (TSDF). Featuring some big names from the world of sports and industry, including Kapil Dev, Abhinav Bindra, Pullela Gopichand and Bhaichung Bhutia, it will be headed by industrialist Sanjeev Goenka, which ensures transparent and accountable utilisation of resources that will be raised through the PPP mode. A good beginning has been made as the state was able to sign MoUs with many keen investors and sponsors. This can help promote exchange programmes with other nations and invest in proven international coaches. Hopefully, this will mark the beginning of rewarding days for sportspersons from Telangana.
Hans India
4 minutes ago
- Hans India
Trump threatens more tariffs on India
Washington/New Delhi: In a fresh trade threat against India, President Donald Trump on Monday said he will "substantially" raise US tariffs on New Delhi, accusing it of buying massive amounts of Russian oil and selling it for big profits. Last week, the Trump administration slapped a 25 per cent duty on all Indian goods. The US President also announced a penalty for buying "vast majority" of Russian military equipment and crude oil, but no mention was made in the notification. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump said in a social media post on Monday. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. In its reaction, India said it will take all necessary steps to safeguard and promote national interest and that the implications of the tariffs are being examined. India's import of crude oil from Russia has risen from 0.2 per cent of total purchases before the Russia-Ukraine war to 35-40 per cent. New Delhi is the largest buyer of Russian oil after China. On August 1, Trump signed an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', raising tariffs for over five dozen countries, including a steep 25 per cent for India. The executive order, however, did not mention the 'penalty' that Trump had said India will have to pay because of its purchases of Russian military equipment and energy. White House Deputy Chief of Staff Stephen Miller, in an interview to Fox News Sunday, stated that President Trump has said very clearly that 'it is not acceptable for India to continue financing" the Ukraine war by purchasing oil from Russia. Last week, Trump mounted a sharp attack on India and Russia for their close ties and said the two countries can take their "dead economies down together", a remark which prompted New Delhi to say that India is the world's fastest-growing major economy. Declaring that the US has a massive trade deficit with India, Trump had said that while 'India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any country.
Hindustan Times
4 minutes ago
- Hindustan Times
PM Modi to address key NDA meet today amid Parliament logjam
Prime Minister Narendra Modi is scheduled to address a meeting of the BJP-led National Democratic Alliance (NDA) parliamentary party on Tuesday. The meeting will bring together MPs of the ruling alliance and marks a rare full-session gathering, being held after a considerable gap. NDA meet Tuesday: PM Narendra Modi to address alliance MPs on key issues(File Photo/Reuters) The NDA meeting comes amid a deadlock in the monsoon session of Parliament, which has been largely disrupted—except for a two-day debate on the Pahalgam terror attack and Operation Sindoor. The Opposition has stalled proceedings in protest against the Election Commission's Special Intensive Revision (SIR) of electoral rolls in Bihar. PM Modi is expected to address several pressing issues in his speech today, including the Opposition's accusations that the poll body is favouring the BJP-led government. He is also likely to speak on April 22 Pahalgam terror attack and the subsequent military response. The meeting also comes ahead of the nomination process for the vice-presidential election, which begins on August 7. With the NDA holding a majority in the electoral college, its nominee is expected to comfortably win the poll, scheduled for September 9 if contested. According to news agency PTI's sources, parliamentary affairs minister Kiren Rijiju, along with BJP national general secretaries, is likely to coordinate with allies to finalise the vice-presidential candidate.
