Rich Getting Richer, Poor Getting Poorer? FM Nirmala Sitharaman Disagrees

Rich Getting Richer, Poor Getting Poorer? FM Nirmala Sitharaman Disagrees

Finance Minister Nirmala Sitharaman speaking while replying in the Lok Sabha countered Trump's ‘dead economy’ jibe, highlighting sovereign rating upgrades for India by three global agencies, including S&P, this year. She also underlined that India has seen broad-based economic growth and the asset ownership gap between the rich and the others has been narrowing over the past decade despite the pandemic blues. This was after an opposition MP said…

“Rich Poor Consumption Gap Rapidly Shrinking,” Sitharaman Tells Parliament - Goemkarponn

New Delhi: India’s economic growth over the past decade has been broad based, with the gap between rich and poor steadily narrowing across both rural and urban areas, Union Finance Minister Nirmala Sitharaman told Parliament on Monday. Citing consumption and asset ownership trends, she said lower income households are acquiring wealth at a faster pace than higher income groups, reflecting a more inclusive growth pattern. Referring to India as th…

Income Inequality In India Has Declined Sharply, Says Nirmala Sitharaman In Lok Sabha

New Delhi: Finance Minister Nirmala Sitharaman on Monday told the Lok Sabha that income inequality in India has “declined sharply”, asserting that the gap between the rich and the poor in terms of asset ownership has also narrowed, particularly in urban areas. Her remarks came in response to questions from the Opposition regarding the recently released World Inequality Report 2026, which described India as “one of the most unequal” countries, no…