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  • Category: Miscellaneous

    Should India be proud of 1:99 and 60:40 ?

    Currently, India is at the height of wealth inequality since 1922. Many figures from early this year state that India's top 1% have around 57-60% of the country's wealth and the rest 99% have 40% among them. Apparently, only Russia is ahead of us in the great divide.This basically means what we see in the movies, the rich getting richer and the poor getting poorer. Are the figures looking bad because of the high Indian rural population? Without taking credit from the hardworking rich class, I am trying to see the impact on the common Indian. The more I read, the scarier the implications sounds. Any knowledge members can help me(us) understand this.
  • #614439
    As per what I understand from these figures, it is something that we can be proud of, not sure how this has been derived but if this is the state of our country, may we should take more steps to improve further to reduce the margin between rich and poor.

    Waiting for other knowledgeable members to respond to know and understand more about this.

  • #614885
    It is a very sorry state of affair. Rich getting Richer is OK. But poor can't become poorer. A poor man should become middle class and a middle class has to become rich. This is not happening because of illiteracy at the bottom level people and rural population. A person belongs to a reserved category who lives in a village and trying hard to make both ends meet is not having the privilege of reservation for jobs and education. But the same reserved category person who is in a good job and knows about all the facilities they get from the government will make his children bet good education and good job. So these people will be going up and up. But the people in the village suffer more and more because of the price increase and other problems.
    If a doctor is very famous in a place he will make his daughter and son study medicine. If they are not getting a seat on merit he will pay the donation to ensure a seat. If they are not qualified in the entrance test he will send them abroad ensure they get the degree. They sat with their father after completing the studies and start earning. That is how the gap is widening.

    always confident

  • #614895

    If the rich becomes richer, then poor will also enjoy better life due to trickle-down effect (as mentioned in Economics theory).

    Beware! I question everything and everybody.

  • #614988
    I do not now the details of the report as to what all things were considered as parameters for the survey and report.
    However I am sure that the per overall wealth has increased definitely in our country. The poverty has reduced much. This all happened due to the various schemes implemented in our country. However after the nineties, the direction of our country's economic focus shifted from socialist to capitalist directions. Instead of burdening government and public sector for creating employment opportunities and production, private sector was allowed to do so by allowing foreign capital flow and collaborations. That gave the government more space and resource to concentrate on poverty alleviation and increasing the income of the lower income strata of people.

    This resulted in a huge increase of overall wealth in the country. Thus even though the per capita income at lower strata has increased considerably, due to the sudden ballooning of capital inflow, investment and productivity the wealth amount increased to a large level. That reduced the percentage presence of the lower and middle strata of people in the wealth chart.

    So as of now we need not worry about the difference, but ensure that per capita income increases and poverty is removed first. The basic necessities like food, shelter, health care , education and employment should be available to all.Government's welfare schemes should focus on this area.

  • #614989
    There is a Urdu saying that " jahan pe gada hotha hain wahin pe paani jama hotha hain". The meaning for this wonder sentence is that " where ever there is a deep dug, the water would gather and stagnant there ". So it applies for the rich of the India. Once they become rich, they know the knack of doubling the money, how to deceive the banks in big way after getting bigger loans and over drafts and so on. But one thing is sure the gap between the rich and poor may be much, but poor is the winner in our country as he can have good sleep in the night without bothering about money, where to park it and how to gain more.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #615014
    The figures may vary a little bit but it is true that inequality of wealth distribution in our country is enormous. There is nothing to be proud of this situation. The main impact is that the poor are denied basic necessities like health and education. The budget allocated to these important sectors is very low.
    " Be Good and Do Good "

  • #615211
    there are many reports of the huge divide in rich-poor of countries around the world and wider the gap translates into a high level of poverty and a larger population without basic amenities. These figures are used by well-known charity organizations, encouraging people to donate more. Happy that there is at least one positive spin-off (that I was not aware), the trickle down effect.

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