Innovative Financial Advisors Pvt. Ltd - The Distribution Of Income And Wealth In India

By Author: Anand Kumar
Total Articles: 15
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Disparities in Indian economy are great and the census of 2011 provides facts to back it up. As per the survey 4o percent people in rural India are landless, in 75 percent of household in rural India the highest earner accounts for less than 5000 income per month. The facts revealed by the census of India presents a gloomy picture of India with people barely making enough money for two times meals. But there is a another India which shines with its prosperity, the India in which people have luxury cars, branded clothes, the India which goes to fancy restaurants and drinks expensive beverages. This is the 10 percent of India which holds 74 percent of the wealth of the country and 1 percent of super rich India which has 49 percent of India's wealth in its hands.

Innovative Financial Advisors Pvt. Ltd believes that the world see India as the fastest developing economy and it has legit reasons to believe it, after all our growth rate is nearing 8 percent and as per prominent economists soon we will touch the 10 percent growth rate milestone. But the picture of rural India tells another story where there is no electricity, ...
... which does not have swift roads to walk, which is far away from any healthcare facility and where people still depend on rain for farming.

Innovative Financial Advisors Pvt. Ltd. believes the problem with India is not that we lack wealth, the problem is that the wealth is concentrated in the hands of few people. As the time passes the rich is becoming richer and the poor is becoming poorer. The conditions are improving but we are far away from which we are capable of doing. The schemes Like MANAREGA and Rural Skill Development have tried to provide employment to the people, but it is lagging behind in sustaining the growth of the people. How can one expect a person to survive on 32 rupees a day and ensure his/hers progress also? While majority of the Indians struggle to make a two bedroom house in the country a big man has enough money to construct a billion dollar worth palace for the family of four. While our farmers suffer from drought of Government aid (receiving two or three Rs. cheque as compensation) , a person freely flaunt his lavish lifestyle after defaulting on thousand crores of Government bank loans.

Innovative Financial Advisors Pvt. Ltd. reviews that scams after scams are getting exposed, humongous amount of money which was meant for the development of the weaker section of the society falls in the pit hole of black money and is hardly recovered. The greed of power and apathy towards the poor has increased inequalities even more in the society. We can't impose morals on people, it is up to the wealthy section to introspect and think what they can actually do to help weaker section of the society. They should not forget that the wealth they have gathered is by using the resource of the society and they can do much more to pay back than to just pay taxes.

On the other side Government has tried to disseminate the wealth by mandating CSR which is a very good move, but still more monetary and fiscal reforms can be made to ensure equal distribution of wealth in the country. Excessive gathering of wealth and concept of profit maximization should be curbed as much as possible.

The high GDP growth and development of the country will only achieve its true goal when the development and wealth reaches every Indian and not just a handful of people.

Author Name - Karan Pundir
Designation - Associate Media and Communication Team | Innovative Financial Advisors Pvt. Ltd.
Company Name- Innovative Financial Advisors Pvt. Ltd.
Phone No. - 01142332200
Email Id – Publications@fiinovation.co.in