Is population contributing to India’s poverty?
Recently, the industrialist and self-proclaimed godman Baba Ramdev said those with more than two children should be denied rights to vote. We are living in times where people speak about things that never relate to them. Politicians speak about science and sanyasis speak about economics. Baba Ramdev’s talk is the continuation of such trend.
According to him, increased population has contributed to the poverty of the country. This is an old theory. A country like China is facing an acute problem of deluge of aged persons owing to one child policy. Hence, the family planning policy has taken a backseat now.
In a country like India, population is a resource, and people are not suffering owing to the lack of it. Instead, the concentration of financial resources owing to Ambani, Adani, Ramdev etc has led to the country’s majority population living in poverty.
If he is really serious about poverty, Ramdev should talk about improper sharing of resources where the wealth lies in the hands of some rich people. That would suit the perspective of a sadhu such as Ramdev. But, Ramdev being an industrialist, he has amassed huge amount of wealth and resources to himself. Expecting him to speak on even distribution of resources is really foolish.
Are we really a poor country? Last year, an additional Rs 2200 crore worth property was amassed by the crorepatis of the country. While the one percent rich category increased its wealth by 39%, that population in the lowest order of hierarchy saw an increase of only three percent. This is according to the Oxfam report.
Since 2004, the poorest of the poor which is about 10% or 13.6 crore Indians, are still reeling under debts. While the poor struggle to feed their children and buy them medicines, a few affluent people are usurping the resources of the country. This leads to widespread anger, as Winnie Byanyima – the Oxfam International Executive Director.
She has even cautioned that this aversive uneven distribution of resources can cause serious damage to social and democratic setup of the country.
But unfortunately, people like Baba Ramdev are pointing fingers at increasing population and trying to slip out of their role in contributing to the concentration of wealth. About 10% of India’s population holds 77.4% wealth of the nation. The richest of the rich, in the top order has 51.53% of the national wealth. The 60% of the lower strata of the population holds just 4.8% of the national wealth.
About nine richest persons in India hold wealth that is equivalent to 50% of the wealth distributed among people from the lowest strata. Between 2018 and 22, the country will produce about 70 new crorepatis. With them, the number of poor will also increase. The report has said the governments often contribute to this menace by reducing the budgetary allocation to health and education of the poor, and reduce the taxes for the rich while increasing the cap on loans doled out to them. This leads to the widening of the gulf between the rich and the poor. Last year about 18 new crorepatis entered the list of privileged rich in the country.
India now has 119 crorepatis. The estimated value of their total assets stands at 400 billion dollars (Rs 28,00,000 crore)
This has been the highest annual increase in the last decade since 2008, with wealth in 2018 increasing up to $ 440.1 bn from $ 325.5 bn in 2017.
By increasing a mere 0.5% of taxes on the assets of the rich, India can cover nearly 50% of the budgetary allocation by the government for health. But then these are high hopes since the corporate forces are the ones that are running the government. So them allowing this hike in taxes is a very far thought.
The corporates are fleeing from the country after fleecing the Indian banks which hold the money saved by the middle class with their hard earnings. The country is busy hiking the tax limit for the middle class instead of taxing the rich. If only the resources concentrated among the few rich is disseminated among the poor, the picture would be different. The population should be turned into human resource. Instead of that, a self-proclaimed god man speaking against the unborn children would be the highest form of hypocrisy.
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Rickelton's ton in vain as SRH beat MI by 6 wickets
Mumbai (PTI): Ryan Rickelton's whirlwind unbeaten ton was overshadowed by Heinrich Klaasen's unbeaten 65 as Sunrisers Hyderabad defeated Mumbai Indians by six wickets in an IPL match here on Wednesday.
Chasing an imposing 244-run target, Travis Head (76 off 30) and Abhishek Sharma (45 off 24) shared 129 runs for the opening wicket to set the platform for SRH.
Klaasen (65 not out off 30 balls) then displayed his all-round hitting abilities to guide SRH home with the help of Nitish Kumar Reddy (21) and Salil Arora (30 not out off 10) in 18.4 overs.
Earlier, Rickelton's knock powered MI to 243 for five.
MI rode on a 93-run stand between Rickelton (123 not out off 55 balls) and Will Jacks (46 off 22) in 7.1 overs for the opening stand to power the side.
MI skipper Hardik Pandya scored a valuable 31 off 15 balls before being dismissed.
Praful Hinge (2/54), Eshan Malinga (1/29), Sakib Hasan (1/39) and Nitish Kumar Reddy (1/31) were the wicket-takers for SRH.
Brief Scores:
Mumbai Indian: 243 for 5 in 20 overs (Ryan Rickelton 123 not out; Praful Hinge 2/54).
Sunrisers Hyderabad: 249 for 4 in 18.4 overs (Travis Head 76, Heinrich Klaasen 65 not out; AM Ghazanfar 2/51).
