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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 dialogue on the Finance Invoice, 2022, and Appropriation Invoice, 2022, the minister mentioned the report is flawed and questioned the methodology with which it’s ready.
“World Inequality Report terming India as poor and really unequal nation is flawed, primarily based on questionable methodology,” the finance minister mentioned.
Launched in December, the report highlighted that high 1 per cent of the inhabitants in India earned 22 per cent of the nation’s nationwide earnings, whereas the underside 50 per cent earned simply 13 per cent.
“India stands out as a poor and unequal nation with an prosperous elite the place high 10 per cent of the inhabitants earned about 57 per cent of the entire nationwide earnings,” the report had mentioned.
The finance minister then reiterated that India continues to stay among the many high 5 international direct funding recipient nations on the earth, as per a UNCTAD report. India obtained 65 per cent extra FDI throughout Modi regime in opposition to 10 years of UPA rule, she mentioned.
Refering to a report by OCED, Sitharaman mentioned that in contrast to 32 nations which resorted to tax fee hikes to fund their financial recoveries in the course of the pandemic, India didn’t resort to taxes for useful resource mobilisation and no tax was elevated to fund the financial restoration.
Sitharaman additionally highlighted that the struggle between Russia and Ukraine is affecting all nations just like the pandemic had.
(With inputs from companies)
Replying to the dialogue on the Finance Invoice, 2022, and Appropriation Invoice, 2022, the minister mentioned the report is flawed and questioned the methodology with which it’s ready.
“World Inequality Report terming India as poor and really unequal nation is flawed, primarily based on questionable methodology,” the finance minister mentioned.
Launched in December, the report highlighted that high 1 per cent of the inhabitants in India earned 22 per cent of the nation’s nationwide earnings, whereas the underside 50 per cent earned simply 13 per cent.
“India stands out as a poor and unequal nation with an prosperous elite the place high 10 per cent of the inhabitants earned about 57 per cent of the entire nationwide earnings,” the report had mentioned.
The finance minister then reiterated that India continues to stay among the many high 5 international direct funding recipient nations on the earth, as per a UNCTAD report. India obtained 65 per cent extra FDI throughout Modi regime in opposition to 10 years of UPA rule, she mentioned.
Refering to a report by OCED, Sitharaman mentioned that in contrast to 32 nations which resorted to tax fee hikes to fund their financial recoveries in the course of the pandemic, India didn’t resort to taxes for useful resource mobilisation and no tax was elevated to fund the financial restoration.
Sitharaman additionally highlighted that the struggle between Russia and Ukraine is affecting all nations just like the pandemic had.
(With inputs from companies)
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