Wealth Concentration: A Threat to Democracy
The Congress criticizes the Modi government's economic policies for escalating wealth concentration, posing threats to democracy and increasing economic inequality in India. Congress leader Jairam Ramesh highlights a report indicating an alarming rise in billionaires while millions struggle economically, warning of potential socio-political upheaval as witnessed globally.
- Country:
- India
The Congress party has launched a scathing critique of the Modi administration, accusing it of fostering economic policies that exacerbate wealth concentration in India. The party alleges that these policies imperil democracy and magnify economic inequality.
Jairam Ramesh, Congress general secretary in charge of communications, cited a media report highlighting India's burgeoning billionaire population. In a post on X, Ramesh notes that despite widespread economic hardship, 1,687 individuals now possess nearly half of the nation's wealth.
Ramesh argues the current economic paradigm not only reduces earning opportunities for ordinary citizens but also elevates social and economic insecurity. His remarks echo the broader concern that undemocratic wealth concentration could trigger political instability, mirroring global patterns.
(With inputs from agencies.)
Google News