The World Inequality Report 2022

In India, democracy is now limited within the election to ensure participation of everyone in the government. Only representation of its entire citizen is unique to this system. But people’s elected representatives do their jobs according to their party’s agenda as well as it is a system to meet personal wills. Only some vocabulary and doles are the fate of the mass. It is an autocracy within a legitimate democracy. Most of the political parties participating in this system battle for people’s liberation and promise to ensure socialism and so forth. But its functions are determined by the mode of capitalism. We usually witness this in our everyday lives. Therefore, it establishes the gap between poor and rich.

Then how may we get relief from this? Mr. Narayan Murthi suggests for compassionate capitalism – ‘It was capitalism in mind and socialism at heart, a creed which looks fairness and at ensuring that everyone is better off.’ But our government does not hear it. It always concerns for the riches. And the poor are the only bargaining assets in the election. The World Inequality Report 2022 released by Paris-based World Inequality Lab, reminds us again about the depth of inequality and injustice.

This world report is an evidence of Modi’s government battering the corporate or elite of India. His regime would be recorded as an example in  India’s democratic history on how to promote the rich. And the poor (majority of Indian population) would be used as a democratic weapon in vocabulary and publicity like ‘Mann ki baat’ and other. His ‘Atmanibhar Bharat Abhiyaan (Self-reliant India Campaign), the special economic and comprehensive packages of INR 20 lakh crore aims ‘to make the country and its citizens independent and self-reliant in all senses – Economy, infrastructure, System, Vibrant Demography and Demand.’ Surprisingly, his government is doing lots sleeplessly, but the poor’s behavioural ill-habits are reasonably pushing them into the poorer conditions. The government would seriously remark on the above in the future.

This report opines - India is a “poor and very unequal country, with affluent elite.”

It highlights that (i) ‘as the top 1% and 10% hold 22% and 57% of the total national income respectively, the bottom 50% share has gone down to 13%; (ii) The report further underscored that the average national income of India's adult population is Rs. 2,04,200, while the bottom 50% earns Rs. 53,610 which means that the top 10% earns more than 20 times (Rs. 1,166,520); (iii) India's middle class is relatively poor with an average wealth of Rs. 7,23,930, 29.5% of the total national income. The average household wealth in India stands at Rs. 983,010; (iv) The report pointed out that the gender inequalities in India are high. The female labour income share is equal to 18% (among the lowest in the world) which is significantly lower than the average in Asia, excluding China.’

It witnesses that Lord Rama has found its rightful place in Ayodhya. But the poor of this nation does not get a place of peace in their minimal self. It proves how Modinomics has been working for cultural nationalism and democratic capitalism. Is Modi on his way to create Modism? It may be considered as ‘a unique combo of a capitalist bulwark with a Socialist heart. During the past six years, his government has moved fast to sell selective rail lines and routes, airports, national highway projects and power distribution contracts to private players. It has now allowed the government to do business with private banks.’ It is like Thatcherism of British Prime Minister, Margrat Thatcher. “The government has no business being in business,”

Is this government trying to finish the majority of its population? Then who would vote for them? The time has come to think again and again. One year farmers’ movement has already proved the strength of the population. We should follow the same line to protect the nation from greed, and voices should be raised against the privatization.