Congress slams govt over widening inequality citing I-T returns data
New Delhi, Oct 23 (IANS) Congress on Monday slammed the government over the growing economic inequalities citing the income tax returns data saying that the widening gap between the ultra-rich and the middle class under the Modi government is more and more apparent.
IANS
Oct 23, 2023 01:42
0
New Delhi, Oct 23 (IANS) Congress on Monday slammed the government over the growing economic inequalities citing the income tax returns data saying that the widening gap between the ultra-rich and the middle class under the Modi government is more and more apparent.
In a post on X (formerly Twitter), Congress general secretary Jairam Ramesh said, “An analysis of the publicly available data on income tax returns for the period 2013-14 to 2021-22 confirms one of the essential themes of the Bharat Jodo Yatra -- that of increasing income inequalities. The widening gap between the ultra-rich and the middle class under the Modi government is more and more apparent.”
Citing the Income Tax returns data of the government, the Congress leader said that here’s the proof -- The top 1 per cent of income tax payers made 17 per cent of all income in 2013-14. By 2021-22, the top 1 per cent made 23 per cent of all income.
He further said that the income growth of the ultra-rich was much faster than the middle class. “The top 1 per cent of income tax payers saw their income grow at 13 per cent year-on-year from 2013-14 to 2021-22 -- a massive 60 per cent faster than the income of the lowest 25 per cent of tax payers,” he said.
He also said that not only that, after adjusting for inflation, the lowest 25 per cent tax-payers actually took home less real income in 2022, than in 2019.
“Gross income of the lowest 25 per cent fell by 11 per cent, from Rs 3.8 lakh crore in FY19 to Rs 3.4 lakh crore in FY22. Meanwhile, the real income of the top 1 per cent jumped 30 per cent from Rs 7.9 lakh crore in FY19 to Rs 10.2 lakh crore in FY22,” Ramesh said.
“Figures don’t lie. Only the Prime Minister does,” he said taking a jibe at Prime Minister Narendra Modi.
The Congress has been critical of the government over the growing income inequalities in the country. Former Congress president Rahul Gandhi on several occasions has raised the issue and also during his Bharat Jodo Yatra.
