Debabrata Saikia, the leader of the opposition in the Assam Legislative Assembly and MLA from Nazira constituency, commented on the increase in economic inequality plaguing the nation.
Citing the findings of a report by the "World Inequality Lab," Saikia has shed light on the increase in economic inequality in India over the past decade, painting a grim picture of the nation's financial landscape. Saikia says that the report highlights that only 1% of the population holds over 40% of the country's wealth, leaving the bottom 50% with a mere 6.5% share.
“Since coming to power in the 2014 general elections, the promises of development and economic reform made by the Modi government have failed to address this widening gap. Instead, India has witnessed a significant escalation in economic inequality, with just 1% of the population controlling 22.6% of the national income, leaving a mere 1% for the bottom 50%”, comments Saikia.
He furthers that the report not only focuses on national income but also delves into the concentration of wealth within specific pockets of society. It reveals a disproportionate accumulation of wealth among the privileged few, further exacerbating the economic divide.
Further he quotes opposition leader Rahul Gandhi has criticized the Modi government, as “the government for the suit and boot” accusing it of pursuing policies that favor the elite while neglecting the common people. In contrast, supporters of the government argue that the report overlooks the progress made in various sectors under Modi's leadership.
Additionally he comments on the recent disclosures by the State Bank of India regarding "Electoral Bonds". “These bonds, which allow political parties to receive anonymous donations, reveal that over 50% of the total bonds have been purchased by the Bharatiya Janata Party (BJP) alone, with the remaining distributed among 26 other parties”, says Saikia.