HELLO FRIENDS, This blog is all about what we talk in our daily life regarding the economic situation of our country i.e unequal distribution of income and wealth, income disparity and bridge between the rich and the poor. Many learned economists and financial advisers define the income disparity in regards to the distribution of income and wealth among the people, which in layman's term means the distribution of the total revenue earned by producing and selling the goods and services within the geographical boundary of a country in a specified time period, which is otherwise known as GDP ( Gross Domestic Product). Hence, the income thus generated from GDP along with other parameters like GNP ( Gross National Product), NNP ( Net National Product) is known as national income which has to be equally distributed among peoples to have a balanced distribution of income and wealth and to maintain the classes as per their pre determined notions such as :- upper class, middle class, lower middle class and the below poverty line.
But what happens in India is just the opposite to what I discussed above. The bridge between the rich and the poor is growing bigger day by day because of uneven distribution of income and wealth. According to a survey conducted by Oxfam India last year, India's richest 1% population held 58% of the country's wealth in their pocket. And the latest survey done by Business Today published its report on 23rd Jan, 2018 said that this elite group of people has even more strengthened their pocket by holding 73% of the total nation's wealth which is around 15% hike from last year's survey and that 15% is equal to the amount of Rs.20.9 lakh crore, an amount close to the total estimated expenditure in the Union Budget 2017 and the poorest half of the country comprising around 70 crore citizens has just seen a mere 1% rise in their total income as compared to the 15% hike of the elites. Can you imagine this????
I wont discuss about the reasons for such conditions or measure to overcome this, rather I would cite a live example to throw light on the topic and then rest the power on my readers to take decisions.
(N.B. - This example is not intended to point out a particular person or expose him in any way. The example must only be understood in the context of above discussed matter of uneven distribution of income and wealth)
A Vice Chancellor of a Central University is entitled to a fixed salary of Rs.2,10,000 on monthly basis ( Refer circular no. 1-7/2015 U.II(1), clause 3 (ii), issued by Dept. of Higher Education, Ministry of HRD, Govt. of India) with other emoluments as par to any central minister or MP. Apart from this he gets free accommodation, free transportation, free holiday trips and many more and apart from this, the salary is not subject to any pay cut. In contrary to it we see a Group D labor working physically day in and day out barely gets Rs.8-10,000 which is just a heap of sand out in a desert, which again is subject to hourly count of work durations, pay cut in leaves, cuts for ESI and PFs ( whose benefits a worker never gets in his lifetime) and many more. Cant we see a income disparity here? Though a VC can claim he is learned and spent more than half of his life achieving what he is today, but is the hard work of a labor has value of Rs.8000 only?
Here i question the spendings of the Government, which are so unequal and unjustified.
In a Democratic and Socialistic country like India where all the responsibility lies with the State to hold the hands of the poor and walk with them. Think about this reckless spendings. Give your opinions. Jago Indians Jago.
Thank You.
