Congress President Rahul Gandhi on Tuesday asked Prime Minister Narendra Modi to tell the World Economic Forum (WEF) in Davos why the richest 1% of India’s population cornered 73% of the wealth generated in the country last year.
Congress President Rahul Gandhi on Tuesday asked Prime Minister Narendra Modi to tell the World Economic Forum (WEF) in Davos why the richest 1% of India’s population cornered 73% of the wealth generated in the country last year.
"Dear PM, Welcome to Switzerland! Please tell DAVOS why 1% of India’s population gets 73% of its wealth? I’m attaching a report for your ready reference," Rahul said in a tweet.
Mr. Gandhi was referring to a survey which said that the richest 1% in India cornered 73% of the wealth generated in the country last year. The survey presents a worrying picture of rising income inequality in the country. Last year’s survey had showed that India’s richest 1% held a huge 58% of the country’s total wealth – higher than the global figure of about 50%.
The Oxfam report, released on the eve of the annual gathering of world leaders in Davos, said that 67 crore Indians, comprising the population’s poorest half, saw their wealth rise by just 1% in 2017.
The annual Oxfam survey is keenly watched and is discussed in detail at the World Economic Forum where Modi spoke during the Opening Plenary today.
The Congress leader's tweet came only minutes after Modi finished his speech in Davos.
Modi became the first Indian prime minister to address the World Economic Forum during which he talked about "serious" challenges and "grave concerns" facing the world, including terrorism.
Speaking at the WEF, Modi said the last time when an Indian prime minister came here in 1997, India's GDP was a little more than USD 400 billion, but now it has increased more than six-times.
Referring to WEF's theme of 'Creating a shared future in a fractured world', he said the Indian philosophy of 'Vasudhaiva Kutumbakam' (the world is one family) has become more relevant in today's time to address fissures and distances in the world.
(With PTI inputs)
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