Gadkari Advocates Wealth Decentralization Amid Economic Imbalance

Union minister Nitin Gadkari expressed concerns over rising poverty and the concentration of wealth among the affluent. At a Nagpur event, he stressed the need for wealth decentralization and highlighted contributions of agriculture, manufacturing, and services. Gadkari also discussed infrastructure projects and economic strategies for growth and investment.

Union Minister Nitin Gadkari on Saturday raised alarms about the increasing number of impoverished citizens, attributing the trend to the concentration of wealth among a few affluent individuals. During an event in Nagpur, Gadkari emphasized the urgent need for wealth decentralization and economic growth that benefits all sectors.

Highlighting India's GDP contributions, Gadkari noted that while manufacturing and services are major contributors, agriculture, despite employing a majority of the rural population, lags behind. He credited former prime ministers for their liberal economic reforms but warned against unchecked centralization.

The minister also outlined infrastructure initiatives, asserting that regional connectivity projects and domestic investments are key. Gadkari emphasized that funds are being raised internally through Infrastructure Investment Trust bonds, without foreign assistance, promising significant returns to investors.

(With inputs from agencies.)