Uneven growth: Rahul targets Narendra Modi over Oxfam survey

Uneven growth: Rahul targets Narendra Modi over Oxfam survey

New Delhi: Congress president Rahul Gandhi on Tuesday attacked Prime Minister Narendra Modi, hours after he delivered his speech at the ongoing World Economic Forum, and asked him to inform the top global forum why ‘one per cent of India’s population gets 73 per cent of its wealth?’.

“Dear PM, Welcome to Switzerland! Please tell DAVOS why 1% of India’s population gets 73% of its wealth? I’m attaching a report for your ready reference,” the official Twitter page of the Congress leader said.

Gandhi was referring to a survey conducted recently by rights group Oxfam.

73 percent of the wealth generated last year went to the richest one percent, while 67 crore Indians who comprise the poorest half of the population saw one percent increase in their wealth.

In the last 12 months the wealth of this elite group increased by Rs 20,913 billion. This amount is equivalent to total budget of Central Government in 2017-18, Oxfam said.

Globally, 82 percent of the wealth generated last year went to the richest one percent of the global population, while 3.7 billion people that account for the poorest half of the world saw no increase in their wealth, says a new Oxfam report ‘Reward Work, Not Wealth’ released today.

The report is being launched ahead of the World Economic Forum in Davos, Switzerland, where political and business elites from across the world will gather.

The report reveals how the global economy enables wealthy elite to accumulate vast wealth even as hundreds of millions of people struggle to survive on poverty pay.

Nisha Agrawal, CEO of Oxfam India said: “It is alarming that the benefits of economic growth in India continue to concentrate in fewer hands. The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. Those working hard, growing food for the country, building infrastructure, working in factories are struggling to fund their child’s education, buy medicines for family members and manage two meals a day. The growing divide undermines democracy and promotes corruption and cronyism.”

–IBNS

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