It is puerile to politicise this serious issue by quibbling over which political party’s tenure has exacerbated economic inequality. The gap between the rich and the poor can be bridged by either making the rich poorer or the poor richer or both. In the current stage of India’s development cycle, economic growth is necessary for increasing the size of the overall economic pie. It is important to ensure a social security net through welfare programs for the poor until they can reap gains of economic growth. India can reduce inequality by making the poor richer without having to make the rich poorer.

Source: The Hindu May 06, 2024 07:23 UTC