Archive · 10 Jun 2025
Congress Alleges Rising Inequality Under Modi Government
Imagine India is like a big pie, and some people are getting much bigger slices while others' slices stay the same size or even shrink.
The Congress party says that under the current government, this problem has gotten worse than it was a long time ago when Britain ruled India.
They say that because some companies have become super big, prices have gone up for everyone.
They also say that most people aren't getting paid more, even though some people are becoming millionaires.
They worry that this is bad for India's future, because the richest people might start moving their money out of the country.
Jairam Ramesh stated India's inequality levels have exceeded the British Raj.
The Congress cited reports indicating wage stagnation for most Indians.
A Capgemini report shows India added over 33,000 new millionaires in 2024.
India saw an 8.8% rise in High Net Worth Individuals' collective wealth.
Ramesh claimed this wealth concentration threatens India's growth due to increased offshore asset holdings.
- Who
- Jairam Ramesh and the Congress party
- What
- The Congress party criticized the Modi government for allegedly increasing inequality.
- When
- June 10, 2024
- Where
- India
- Why
- The Congress party claims the Modi government's policies have led to increased inequality and wealth concentration.
- Key Figure
- Jairam Ramesh
- Date of Announcement
- June 10, 2024
- New Millionaires in 2024
- Over 33,000
- Rise in HNWI Wealth
- 8.8%