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Why Rahul Gandhi is wrong in taking a dig at Modi over 1% rich owning 73% of India’s wealth

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Tejinder Singh Bedi
Tejinder Singh BediJan 25, 2018 | 09:15

Why Rahul Gandhi is wrong in taking a dig at Modi over 1% rich owning 73% of India’s wealth

The Indian society has lived with gross inequalities of income and opportunities for centuries. Therefore, it is wrong to expect any government to do away with them and create an equitable society overnight. Congress president Rahul Gandhi seems to have missed this important point when he took a dig at Prime Minister Narendra Modi over 1 per cent Indians amassing 73 per cent of the country's wealth.

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Under the existing systems and regulations, there is no government that can reduce the glaring inequalities in the Indian society even marginally. Governments in India are formed following elections that are highly exorbitant to contest. This process ensures nearly all political parties become beggars in front of the "1 per cent" capitalists in the country.

The rampant corruption which has taken roots in the country over centuries is the other major cause of such inequalities because it ensures exploitation of the have-nots.

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A look at some progressive and advanced nations that have successfully managed to keep such inequalities at bay for decades provides interesting insights.

India has a population density of 382 persons per square kilometre against about 363 of Belgium and 122 of France. Both France and Belgium figure among the top 10 nations committed to ensuring equality in average standards of living for their citizens.

It shouldn't come as a surprise that all the 10 countries have a much higher per capita GDP compared to India.

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The US, Slovenia, Denmark, Norway, Czech Republic, Slovakia, Sweden, Finland, Austria, and Hungary - all have a higher per capita GDP compared to India. Back in Asia, even Sri Lanka has a per capita GDP which is almost double than ours. Same is the case with China and Japan.

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Another huge difference between India and other nations is that they have republican forms of government giving greater powers to the heads of state to carry out reform measures.

The World Economic Forum's latest Inclusive Development Index has put India at the 62nd place - 15 spots below Pakistan. There is an urgent need to address this state of affairs. With the present dispensation having secured a majority both in the Lok Sabha and Rajya Sabha it is ideally placed to launch major initiatives to bridge the divide.

Our socio-economic policies need an overhaul and the social security systems strengthening. It needs to ensure equal ground and opportunity for all. This will go a long way in attracting global investors to invest in India.

Also indirect taxes for the BPL, the farming community, senior citizens and others in the middle class need to be slashed. The government should also promote meritocracy in all fields.

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Last updated: January 25, 2018 | 09:15
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