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Poverty

Soaring Inequalities: Questioning the Unaddressed Challenges of the Union Budget 2022-23

The Union Budget 2022-23 was expected to take steps to tackle the problem of inadequacy of demand so that the economy’s rate of growth could be accelerated. This problem has persisted and had led to the rate of growth slowing down in the last four years. In turn, this problem is linked to the growing inequality in the country, which has been highlighted by several recent reports. The latest report is from the non-profit think tank People’s Research on India’s Consumer Economy [PRICE]. It shows not only the aggravation of inequality but also of poverty since 60 per cent at the bottom who were already poor or close to the poverty line lost incomes.