India is grappling with an increasingly stark divide between its rich and poor. A recent survey by a leading global research institute has shed light on the pervasive concern of economic inequality, revealing that 81 per cent of Indians view the gap between the wealthy and the impoverished as a serious problem. More than half of these respondents consider the situation a “very big problem,” with many attributing this widening chasm to a variety of interrelated factors.
What’s perhaps most striking is that a significant proportion of the population calls for sweeping reforms to address the underlying systemic issues, signaling a widespread desire for change. The growing economic inequality in India is not merely a reflection of an unequal distribution of wealth but a complex interplay of political, social, and technological factors. For one, a staggering 79 per cent of those surveyed believe the disproportionate political influence of the wealthy is a primary driver of this inequality. The wealthy have the means to sway policy decisions, often shaping laws and regulations to perpetuate their financial advantage. This creates an environment where the rich get richer while the rest struggle to keep pace.
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Automation, too, has deepened the divide. As industries become more reliant on technology and artificial intelligence, many low-skill jobs are being displaced, exacerbating unemployment and economic stagnation for the working class. While automation is often hailed as a sign of progress, its benefits have been unevenly distributed, leaving large swathes of the population behind. This phenomenon is not unique to India but is increasingly becoming a global issue, where those unable to adapt to the demands of the new economy are left vulnerable to poverty. Equally concerning is the state of India’s education system. While the country boasts a growing number of top-tier educational institutions, the vast majority of its population still lacks access to quality education. This entrenched inequality in education exacerbates the wealth gap by limiting opportunities for upward mobility.
A lack of access to good education ensures that many individuals remain trapped in a cycle of poverty, unable to break free from the shackles of their socio-economic status. Religious and caste-based discrimination further compounds the issue. A significant portion of those surveyed views religious discrimination as a “very big problem,” with caste based biases still entrenched in society. These prejudices limit opportunities for marginalised communities, hindering their ability to participate fully in the economy and society at large. This dual burden of economic and social inequality further isolates large sections of India’s population from the country’s economic progress.
Ultimately, the survey reveals a society deeply dissatisfied with the current state of affairs. Indians are not just concerned about the widening wealth gap; they are also increasingly aware of the need for substantial reform. As the country moves forward, addressing the political, technological, and social barriers that perpetuate inequality will be crucial in fostering a more inclusive and fair society. One opportunity to bridge this gap will present itself with the Union Budget, but does the Finance Minister have the desire to address the problem?
