India's Economic Inequality Sparks Social Crisis, Says Congress

The Congress alleges that economic inequalities in India have intensified into a severe social and economic crisis. Criticizing the government's policies as favoring a few industrialists, they claim that middle and lower classes bear the consequences. Citing Hurun India's report, Congress highlights the disproportionate wealth of major industrial houses.

On Wednesday, the Congress raised alarms over the intensifying economic inequalities in India, branding it as a burgeoning social and economic crisis. The party accused the government of enacting policies that predominantly favor a select group of industrialists, leaving the middle and lower classes disadvantaged.

In a pointed critique, Congress general secretary Jairam Ramesh dismissed recent claims by the Press Information Bureau about India's global economic equality ranking, emphasizing that such assertions have been discredited. Ramesh drew attention to a report by Hurun India, highlighting the overwhelming wealth concentration in the nation's top industrial houses.

The report reveals that the assets of India's top five industrial families equate to 18% of the country's GDP, with the Ambani group alone possessing 12.7%. Ramesh alleged that the Prime Minister has consistently supported these industrialists through targeted policies, leaving small industries and the broader population to face the consequences of skyrocketing inequality.

(With inputs from agencies.)