
Congress slams Centre as World Bank report highlights poverty, inequality in India
Citing the World Bank's poverty and equity brief for India in April 2025, Congress general secretary, communications, Jairam Ramesh said three months after its release, the Narendra Modi government's "drumbeaters and cheerleaders have begun spinning the World Bank's data to make the staggeringly out-of-touch claim that India is among the world's most equal societies".
He said in a statement issued on April 27, the Congress had highlighted some of the key concerns that the World Bank had raised in its report.
"These concerns continue to be relevant, and any attempt to engage with the report must grapple with them seriously," the Congress leader said.
He said the World Bank report highlights that wage disparity is high in India, with the median earnings of the top 10 per cent being 13 times higher than the bottom 10 per cent in 2023-24.
"Moreover, 'sampling and data limitations suggest that consumption inequality (as measured by government data) may be underestimated'.
"More updated data (adoption of purchasing power parity conversion factor from 2021 as compared to that of 2017) would result in a higher rate of extreme poverty," Ramesh said in a statement, citing the report.
He said the report also stated that changes in the questionnaire design, survey implementation and sampling in the Household Consumption Expenditure Survey 2022-23 "present challenges for making comparisons over time".
"As a lower middle-income country, the appropriate rate to measure poverty in India is that of USD 3.65/day. By this measure, the poverty rate for India in 2022 is significantly higher at 28.1 per cent," Ramesh said, citing the report.
"The report is therefore rather clear: poverty remains concerningly high, and so does inequality," the former Union minister added.
He said the good news that the Centre is so desperately trying to wrangle out of this report is partly attributable to the limited availability and uncertain quality of government data as well as to the selection of benchmarks to measure poverty.
"No country that has a poverty rate of 28.1 per cent can make a justifiable claim to being one of the most equal societies in the world," the Congress leader said.
He added that in the statement issued by his party in April, "we had also outlined several takeaways for Indian policymakers from the report. These also continue to remain relevant".
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


News18
24 minutes ago
- News18
Who Is Vaibhav Taneja, Indian-Origin Tesla CFO Handling Finances For Musk's America Party?
Last Updated: Taneja's official role in Musk's political outfit was confirmed through paperwork submitted to the US Federal Election Commission Indian-American Vaibhav Taneja, currently the Chief Financial Officer (CFO) at Tesla, has been named as the Treasurer and Custodian of Records for Elon Musk's newly launched political venture, the America Party. On Saturday, Musk announced the formation of the America Party through a post on his social media platform, X, saying it aimed to 'give Americans their freedom back" and challenge what he called the country's 'one-party system". 'Today, the America Party is formed to give you back your freedom," Musk wrote. 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," added the billionaire, who heads Tesla and SpaceX. Taneja's official role in Musk's political outfit was confirmed through paperwork submitted to the US Federal Election Commission (FEC), which lists him as both Treasurer and Custodian of Records of the party. 🚨 BREAKING: It's FEC filing under Elon Musk's name just confirmed the creation of a brand new political vehicle, the AMERICA PARTY. The paperwork lists Tesla CFO Vaibhav Taneja as both Treasurer and Custodian of Records. You don't file FEC paperwork unless you're… — Brian Allen (@allenanalysis) July 6, 2025 Who Is Vaibhav Taneja? Vaibhav Taneja is a seasoned financial executive and the current CFO at Tesla. He holds a commerce degree from Delhi University and is a qualified Chartered Accountant from the Institute of Chartered Accountants of India (ICAI). He began his professional career at PricewaterhouseCoopers (PwC) in India before moving to the United States in 1999. In March 2016, Taneja joined SolarCity Corporation, a solar energy company, as part of its finance and accounting team. Following Tesla's acquisition of SolarCity in the same year, he transitioned to Tesla in 2017 as Corporate Controller. Taneja rapidly moved up the ranks, becoming Tesla's Chief Accounting Officer in 2019 and eventually taking over as Chief Financial Officer in 2023. With over 17 years of experience across sectors such as technology, retail, and telecom, Taneja is well-versed in US GAAP, SEC filings, and financial audits. He has worked closely with senior executives and board members, helping companies streamline operations, ensure compliance, and reduce revenue leakage. First Published:


India Today
25 minutes ago
- India Today
KTR accepts Revanth Reddy's challenge to debate on Telangana farmers' issues
Bharat Rashtra Samithi (BRS) working president KT Rama Rao has accepted Chief Minister Revanth Reddy's challenge for a public debate on farmers' issues. Rao, popularly known as KTR, said he was ready to confront the Chief Minister anywhere, anytime and dared him to fix the date, time and came after Reddy demanded KTR to have a debate with him on farmers' aim at Reddy, KTR alleged the Chief Minister lacked basic knowledge about agriculture and governance. "I am giving him 72 hours to prepare so that he doesn't end up embarrassing himself by mistaking a basin for a vegetable. This is for his own good," KTR remarked sarcastically while speaking to reporters. Asserting he was ready for the debate, KTR offered to meet at any location chosen by the Chief Minister - whether in Reddy's own constituency of Kodangal, his native village Kondareddypally, or even at the Ambedkar statue or Somajiguda Press Club in Hyderabad. "This is not about mudslinging. Let's put the facts out there. Let's see who really worked for Telangana's farmers," he accused Reddy of betraying Telangana by diverting the state's water to Andhra Pradesh, and claimed that the Chief Minister was acting under the influence of TDP chief and Andhra Pradesh Chief Minister Chandrababu Naidu. "Revanth has turned Telangana into an ATM for the Congress high command. He's running a puppet government, not a people's one," he what he called the success of the BRS regime, KTR said that agriculture in Telangana had been transformed into a celebration under K Chandrasekhar Rao's regime. He credited the BRS with initiatives like Rythu Bandhu, Rythu Bima, Mission Kakatiya and large-scale irrigation projects that, according to him, turned the state into the top paddy producer in the said during the Covid-19 crisis, the BRS set up thousands of procurement centres to ensure that not a single grain went to waste during its rule."Who brought Godavari water into the dry lands of Telangana? Who revived rivers like Kudelii, Haldi and Manjeera? Who stopped farmer suicides and tackled the fluoride crisis? It was KCR, not the Congress," he further accused the Congress government of failing to deliver on its promises, citing the non-payment of farm loan waivers, pensions and crop support schemes. 'Where is the Rs 15,000 per acre support you promised? Where is the Rs 4,000 pension? What happened to the Rs 2,500 allowance for women, free scooters or the 2 lakh jobs?' he asked."The only people happy today are Revanth and his coterie, looting like the Dandupalya gang. Auto drivers, farmers, young people, the elderly, women - none of them are satisfied. Dalits won't vote for a non-functional Dalit Bandhu scheme. Unemployed people won't vote for jobs that never came. Farmers won't vote for a Bharosa scheme that's still pending," he to KTR, every major welfare promise made by the Congress had been either been broken or delayed. "Farmers were promised support for three crops - they haven't even supported one fully. While KCR gave Rs 10,000 per acre on time, Revanth gave just one installment and threw a party," he Reddy's administration a "classic Congress drama", KTR said, 'When Congress talks about farmer welfare, it's like ghosts quoting scriptures. This government is an insult to democracy, just like the Indiramma era when people were jailed during the Emergency.'KTR reminded that even the Centre had acknowledged in Parliament that the BRS stopped farmer suicides and ended the fluoride crisis in Telangana. "Those who can't understand facts are called fools. Those who knowingly deny them are called Revanth Reddy. The truth is known to every villager, every field in Telangana,' he said.- Ends IN THIS STORY#Telangana#Bharat Rashtra Samithi#Indian National Congress
&w=3840&q=100)

Business Standard
25 minutes ago
- Business Standard
Gold prices may be volatile as Trump's tariff deadline approaches: Analysts
Gold prices may see heightened volatility in the coming week as investors track a crucial July 9 tariff deadline, policy signals from major central banks, including the US Federal Reserve, and key global macroeconomic data, analysts said. "These factors could influence the near-term trajectory of gold prices," analysts said, adding that traders are expected to remain cautious ahead of any major policy cues or geopolitical developments. The 90-day suspension of Trump tariffs on imports from several countries, including India, ends on July 9, reviving the risk of a 26 per cent additional duty on Indian goods entering the US. "Going ahead, the focus will be on the interest rate cuts by key central banks, especially US Fed Reserve, the outcome of trade negotiation between US and its trading partners, incoming global economic data, which could impact the near-term gold prices," Pranav Mer, Vice President, EBG, Commodity & Currency Research at JM Financial Services Ltd, said. Investors will also closely monitor the release of the US Fed's FOMC (Federal Open Market Committee) meeting minutes. Last week, the precious metal futures for August delivery rose Rs 1,563, or 1.61 per cent, on the Multi Commodity Exchange (MCX). N S Ramaswamy, Head of Commodities Desk and CRM at Ventura, said gold prices in the international market, currently at USD 3,345 per ounce, could remain under selling pressure due to the solid US macroeconomic data that dented hopes of a July interest rate cut by the Federal Reserve. Despite some corrective rallies, Ramaswamy stated that "the short-term outlook favours consolidation and corrective upward movements, followed by a likely continuation of the broader downward trend". Ramaswamy, however, said fiscal deficit worries in the US and impending Trump tariffs decision could trigger fresh volatility and lift demand for the yellow metal. Central banks added a net 20 tonnes of gold to global gold reserves in May, he said. Prathamesh Mallya, DVP, Research, Non-Agri Commodities and Currencies at Angel One, said gold prices continue to be supported by a weakening US dollar and ongoing geopolitical concerns. "Dollar weakness has been a key part of gold prices rising in 2024 as well as in 2025. This trend will continue for the rest of the year," Mallya said. Meanwhile, JM Financial's Pranav Mer also pointed to persistent central bank purchases, and increased retail and institutional investments via ETFs as factors bolstering the long-term bullish case for gold prices.