Title: Income Gap Widens Under Modi Government, Alleges Congress
Subtitle: Congress General Secretary presents income tax data as evidence of growing inequality
New Delhi: The Congress party has accused the Modi government of widening the income gap between the super rich and the middle class, citing income tax returns from 2013-14 to 2021-22 as evidence.
According to Congress General Secretary Jairam Ramesh, the publicly available income tax data confirms that income inequality, a key focus of Rahul Gandhi’s India Unity Yatra, has seen a significant increase. In a post on his social media page, Ramesh stated, “Under the Modi government, the gap between the super rich and the middle class has widened. Here’s the proof: In 2013-14, the top 1 percent of income tax payers earned 17 percent of total income. By 2021-22, the total income of the top 1 percent rose to 23 percent.”
Furthermore, he pointed out that the incomes of the super rich have grown at a faster rate compared to the middle class. Ramesh highlighted that from 2013-14 to 2021-22, the income of the top 1 percent of income tax payers increased by 13 percent year-on-year, which is 60 percent higher than the income growth of the bottom 25 percent of taxpayers.
The data also reveals that after adjusting for inflation, the total income of the bottom 25 percent of taxpayers was expected to decline in 2022 compared to 2019, witnessing an 11 percent decrease. Their income, which was Rs 3.8 crore in FY 2019, has now fallen to Rs 3.4 crore in FY 2022.
On the other hand, the real incomes of the top 1 percent of income taxpayers experienced a significant 30 percent increase. Their income rose from Rs 7.9 crore in FY 2019 to Rs 10.2 crore in FY 2022. Ramesh emphasized, “Statistics don’t lie; only the Prime Minister will do that.”
It is worth noting that the Congress party has persistently accused the Modi government of exacerbating income inequality between the super rich and the middle class in recent years.
The allegations made by the Congress party highlight the ongoing debate surrounding economic disparity in India. This issue has been a subject of concern for many, as it has direct implications on the socio-economic well-being of the country’s population. The government’s response to these allegations and the measures taken to address the income gap will be closely scrutinized.