Income inequality and lack of social welfare

India is one of the fastest growing economies, but to think of it, is this growth happening equally for every single person of the Country. The answer is No, it's not. Income inequality is one of the major concerns of the Country. The rich keep getting richer and the poor get poorer. The wealth gap is widening. There is a very small % sitting on top of the pyramid holding a very major share of wealth. This is what I have observed that post Covid; this gap has increased more. In big metro cities now, there are tech and finance MNC established, where employees are paid well and the earning is good. At the same time, a person living in a village who is still continuing with the traditional farming income, for them there is no growth in income. They are still struggling to meet their ends.

The result of this is more and more people want to shift from rural to urban places, which in turn is crowding the urban cities and the resources and infrastructure are not enough to support this. Mumbai city, my own city, if I have to give example, then it is on top of the list of overcrowding. Almost everyone from rural place wants to come here for job and career opportunities, because they think that this is the one place where all dreams get fulfilled.

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The result is overcrowding, more poverty in the city which is clearly visible in certain areas. Increase of crime and a lot of instability. People somehow try to squeeze in and manage their way out. It's a big struggle for so many such people. The cost of living in Mumbai is anyways high, so whatever little these people manage to earn, it is sspent on their living, so as such they are really not making any money or creating wealth. They are just surviving. Whereas there is a section of people who profit from their corporate set ups and stock market gains, which at all times outpaces a wage growth. There is a lot of Asset based growth in India, but not everyone has assets to grow on and this number is really huge which creates a lot of disparity of wealth.

India needs a stronger social welfare system where better jobs and opportunities are created for everyone and giving everyone a fair chance to move up in life.

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