A $5 trillion economy for whom?

Oxfam International has stated that 40% of India’s wealth is in the hands of 1% Indians. Under these circumstances, Prime Minister Narendra Modi has announced that India will become a 5 trillion dollar economy in the next five years. Nalini Singh, journalist, has written an article, which is published in The Hindu today. Its heading is “A $5 trillion economy, but for whom?”. Nalini Singh has asked who will be benefited if India becomes a 5 trillion dollar economy – whether the rich in India or the poor? Recently, Prime Narendra Modi has also announced that 5kg of free food-grains per month would be given to the beneficiaries of the National Food Security Act. This means, still 80 crore Indians have to be given free food-grains to avoid their hunger. Nalini Singh says that, per capita income is the index of a population’s well being. She points out that, India’s per capita income is only $2,400 and it ranks 149 among 194 countries in 2022. She also points out that, Japan’s per capita income is $34,000 and China’s per capita income is $13,000. The author also says that, India may become $5 trillion economy. But, most of the population will continue to remain poor. Nalini Singh’s article is enclosed and comrades are requested to read it.