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World Inequality Report terming India ‘poor and unequal’ is flawed, says Nirmala Sitharaman

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday slammed the World Inequality Report 2022 for terming India to be “poor and unequal”.
Replying to the discussion on the Finance Bill, 2022, and Appropriation Bill, 2022, the minister said the report is flawed and questioned the methodology with which it is prepared.
“World Inequality Report terming India as poor and very unequal country is flawed, based on questionable methodology,” the finance minister said.
Released in December, the report highlighted that top 1 per cent of the population in India earned 22 per cent of the country’s national income, while the bottom 50 per cent earned just 13 per cent.
“India stands out as a poor and unequal country with an affluent elite where top 10 per cent of the population earned about 57 per cent of the total national income,” the report had said.
The finance minister then reiterated that India continues to remain among the top five foreign direct investment recipient countries in the world, as per a UNCTAD report. India received 65 per cent more FDI during Modi regime against 10 years of UPA rule, she said.
Refering to a report by OCED, Sitharaman said that unlike 32 countries which resorted to tax rate hikes to fund their economic recoveries during the pandemic, India did not resort to taxes for resource mobilisation and no tax was increased to fund the economic recovery.
Sitharaman also highlighted that the war between Russia and Ukraine is affecting all countries like the pandemic had.
(With inputs from agencies)

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