UNEQUAL WEALTH HOLDING IN INDIA

Where India is placed in the world with it's economic status is not the place provided for the Indians. India is placed 5th in the world in GDP ranking in 2023 behind America, China, Japan and Germany. India (rather Indian population) rank 139 in GDP per capita nominal- 2023 and 127 in GDP per capita PPP 2023. These clearly indicate that the people and the country are placed at quite  distant spots. According to Forbes (India) the PCI of the top five GDP countries are given below. 

GDP per capita in USD thousand is: USA - 80.03, China - 13.72,

Japan - 35.39, Germany - 51.38

India - 2.6

It can be seen from the above list that India is placed far below with a paltry sum. As per a report by The Times of India on 26 January 2023, 1% of the rich population of India hold 40% of the wealth of the country. The report further reveals that the bottom half of the Indian population hold just 3% of the wealth of the country. According to a report of Oxfam International quoted by The Times of India, "A one-off tax on unrealised gains from 2017-2021 on just one billionaire, Gautam Adani, could have gained Rs 1.79 lakh crores, enough to employ more than five million Indian primary school teachers for a year. The report titled"Survival of the Richest " further said that if India taxed once 2% on their entire wealth, it would support the requirements of Rs 40,423 crores for the nutrition of the malnourished in the country for the next three years. The number of billionaires in India is increased from 102 in 2020 to 166 in 2022.

We may find below the GDP nominal per capita income as estimated by the IMF for the year 2023. Here is  given for selected countries only. (In USD)

Singapore - 91,100

USA - 80,034

Australia - 64,964

Canada - 52,722

Germany - 51,383

UAE - 49,451

UK - 46,371

France - 44,408

Italy - ,36,872

Japan - 35,385

South Korea - 33,393

Russia - 14,403

China - 13,721

Brazil - 9,673

Thailand - 8,181

South Africa - 6,485

Bhutan - 3,497

Sri Lanka - 3,362

INDIA - 2,601

Can we Indians look at this list with pride? Our political parties have been trying to convince us the quantum leap of Indian economy for the past few decades. When people do not have adequate share in the economic growth of the country, it cannot be called as any economic growth. And now, from the 1.5 billion population if we take out 1,000 richest of the country, the per capita income of the common man will fall down further to a meager sum.

If Indians need to be economically improved the entire Indians should ensure the following on top most priority. It is not for the government to do but the people as a whole should do.

1. The people as a whole should find an end to corruption in our country.

2. Tourism is a large source of revenue for the country. Our country is one of the worst in the world in behaving with women. Tourists will hate to  visit our country in such circumstances.  We must show high regards and love for women of our country as well as those visiting us from other countries.

3. Religion, under no circumstances, should be mingled with politics.

4. Once elected, maintain a good relation with the government.

5. Unity among the people should be maintained irrespective of caste and community, state and region, political faith and allied matters.

6. Approach the judiciary if anything wrong is found with the government instead of going for mass protests using destructive means.

Let us know the truth that having got more than enough natural resources and man power to exploit those we keep a good share of our population unemployed and under employed. Let us effectively use these resources and the people, the economic status of the country as well as the people shall climb up quite fast.

K V George