Congress Decries Rising Wealth Gap
Congress general secretary (communications) Jairam Ramesh on Sunday flagged growing economic inequality in India, alleging that the Modi government’s economic policies are driving the extreme concentration of wealth in the hands of a few industrialists.
By : DC Correspondent
Update: 2025-10-05 15:57 GMT
New Delhi: Congress general secretary (communications) Jairam Ramesh on Sunday flagged growing economic inequality in India, alleging that the Modi government’s economic policies are driving the extreme concentration of wealth in the hands of a few industrialists.
Sharing a media report on X that claimed India is fast becoming a new hub of billionaires, Ramesh said the number of the rich in the country is increasing rapidly year after year.
“One report after another warns of the widespread concentration of wealth in India. While millions of Indians struggle to meet their daily needs, just 1,687 people now possess half the country’s wealth,” Ramesh wrote in Hindi on X.
He said this huge concentration of wealth, driven by the Modi government’s policies, is creating “massive economic inequality,” which in turn is leading to “widespread social insecurity and discontent.” Recent events in other countries, he added, have shown that extreme inequality and weakened democratic institutions can become catalysts for political instability.
“This government is pushing India down the same path,” Ramesh said, accusing the Prime Minister of favouring a few industrialist friends through policy decisions.
The Congress also issued a statement alleging that the growing concentration of wealth is not merely an economic issue but “a direct attack on the very soul of democracy.”
Ramesh said the MSME sector, the backbone of India’s economy, is under unprecedented pressure due to both domestic policies and foreign policy failures. “Earning opportunities for ordinary people are shrinking. Inflation has risen so high that even those employed are increasingly burdened with debt instead of savings. Investment in education and healthcare is steadily declining, while social security schemes are being weakened,” he said.
He further pointed out that successful schemes like MGNREGA, which once provided a social and economic safety net to millions, are now facing wage crises, with workers not even receiving payments on time.
“Such extreme concentration of wealth is not just an economic problem but a direct attack on democracy itself,” Ramesh warned. “When economic power is concentrated in a few hands, political decisions also begin to favour them, deepening social and economic inequality.”
Earlier, during his visit to South America, Leader of Opposition Rahul Gandhi had also raised concerns about crony capitalism in India