Ironically in India where the poor are struggling to breath with just Rs 27.2 a day in rural areas and 33.3 in cities. The net worth of the billionaire community increased 12-fold in 15 years, enough to eliminate absolute poverty in this country twice over. In a telling comment, the International Monetary Fund managing director Christine Lagarde warned that income inequality is increasing dangerously
Inequality is a sociological construct. Larger income/wealth Inequality breeds discontent, inefficiency, corruption & finally the revolt which is now creeping up in the shape of Maoism & Naxalism. India can ignore this only at its own peril. What is worrying is that the monthly per capita consumption expenditure of the top 5% of the rural population is nearly nine times that of the bottom 5%. Where as In cities and towns, the average consumption by the top 5% of the population has gone up dangerously to 14.7 times that of the bottom 5%.(latest report of the National Sample Survey Organisation on people’s spending patterns)
As an immediate measure to contain & to bring inequality at least to rural level .Ratio of 9:1 between maximum & minimum Salary is being demanded which is feasible in the present economical scenario of the Country.
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Sara P is a Central Government Employee and founder of Zruti.blogspot.com, one of the most information blog in the world to share knowledge on Central Government Empoyees
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