Wednesday, June 16, 2021
Home News Reports Rahul Gandhi scores a self-goal while trying to attack Narendra Modi over wealth inequality

Rahul Gandhi scores a self-goal while trying to attack Narendra Modi over wealth inequality

It has become quite a habit with Congress President Rahul Gandhi to lie his way through politics. We caught him lying during Gujarat elections. After Rahul Gandhi’s blatant lies about the Nano factory, Tata Motors itself had to issue a statement. Another time, after his lie was caught, Rahul Gandhi had to delete his tweet altogether. He has certainly developed a penchant for lying, and this time was no different.

This time, Rahul Gandhi timed his woke tweet on rising inequality as soon as the Prime Minister concluded his speech at the World Economic Forum’s plenary session at Davos. However the article shared by Rahul Gandhi had damning indictment of UPA rule itself. The article had mentioned a report titled ‘Indian income inequality, 1922-2014: From British Raj to Billionaire Raj?’

The report had evaluated rising inequality in the period of 1922 -2014, much of it ruled by Congress and Rahul Gandhi’s ancestors. A more careful scrutiny of the Credit Suisse’s Global Wealth Report also indicates the fact that wealth of top 1% fell in the 2016-2017 period. Rahul Gandhi conveniently dropped the part which said that 73% of wealth “in the year 2017” went to the top 1%, and chose to word his tweet as a generalisation giving the impression that 73% of India’s entire wealth accrues to the top 1%, where according to the report, 73% of India’s total wealth accrues to the top 10% of the population.

Indian income inequality, 1922-2014: From British Raj to Billionaire Raj 

The  report titled Indian income inequality, 1922-2014: From British Raj to Billionaire Raj ‘ (2017) brought out by Thomas Piketty and Lucas Chancel said that the India witnessed a sharp rise in income of top 1% since 1980s. The study had taken inputs from household surveys, national accounts and NSSO survey.

According to the report the share of income of bottom 50% had grown at a substantially lower rate ever since income tax was introduced in 1922. The report further said that the income of middle 40% of the population grew at a slower rate than average whereas the top 1% grew faster than average. Thus, it hints at a bad deal for middle classes at the cost of elite 1%. This is a damning indictment of the UPA rule itself, as Narendra Modi took over only in 2014. The report says :

We find that the bottom 50% group grew at a substantially lower rate than average growth (Figure 1a) since the 1980s. Middle 40% grew at a slower rate than the average (Figure 1b). On the contrary, top 10% and top 1% grew substantially faster than the average since 1980 (Figure 1c).

Huge embarrassment for Rahul Gandhi

The Congress president’s attempt to take a potshot at Narendra Modi backfired as social media users pointed out that the article shared by him highlights the growth of income inequality during the tenure of his own government.

73% of wealth owned by the rich is also a lie. Wealth of top 1% of population has fallen

Rahul Gandhi claimed that the 1% of the population controls 73% of the wealth. But even this claim turned out to be a lie. The Credit Suisse ‘Global Wealth Databook‘ that is the source for Oxfam report said that the top 10% of the population had 73% of the wealth and the top 1% had 45% of the wealth. In fact that the wealth of top 1% of the population had reduced from 58% in 2016 to the current 45% level in 2017 according to Credit Suisse.

However, it is also telling that Oxfam included a new data point that found “73% wealth accumulated in 2017 went to top 1% of the population”, without mentioning that the income disparity had actually been reduced between 2016 and 2017. It is also telling how many media houses, chose to say “India’s 73% wealth goes to 1% population” when that specific data point was only for 2017.

Apart from this, the following graph makes it extremely clear how the income disparity has risen over the years, and it got really stark during the UPA years.

Appears that Rahul Gandhi has decided to continuously peddle lies in order to take potshots against the Narendra Modi government. One can only expect them to increase the frequency of propaganda as the 2019 elections approach.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

Related Articles

Trending now

As Yogi Sarkar lodges FIR against Twitter, 8 others, Alt News co-founder Zubair deletes fake hate crime video: Details

The UP Govt has initiated action against Twitter for failing to take down tweets that spread misinformation about a crime in the state.

Yogi Adityanath slams Rahul Gandhi for spreading fake news, tells him to stop defaming UP citizens: Here’s what he said

Uttar Pradesh Chief Minister Yogi Adityanath has slammed former Congress president Rahul Gandhi for spreading fake news.

Government debunks propaganda article published in The Hindu on the surge in FDI inflows for 2020-21: Details

GoI has debunked the propaganda article published in The Hindu on 2 June 2021 over the surge in FDI inflows

British Pakistani rapper Frenzo Harami spews venom on Hindus. Here is what we know about him

Pakistan-born British rapper, who used to sell drugs before becoming a rapper, spoke the language of terrorists, used Gaumutra jibe

Rahul Gandhi shares fake news related to Lord Ram, twice in two days. This is what it shows

What made Rahul Gandhi share a fake news about 'Jai Shri Ram' chant even though Police had debunked the claims?

Big Liberals, small hearts: By donating 80 vials of vaccine, America has proved to be the poorest country in the world

Do you remember when Western media and their native sepoys flew drones over cremation grounds in India? They are quiet now

Recently Popular

Here is the truth about the land deal by Ram Janmabhoomi Teerth Kshetra and how the allegations by likes of AAP are baseless

Shri Ram Janmabhoomi Teerth Kshetra and its head Champat Rai bought an additional piece of land for the purposes of additional construction to facilitate pilgrims who would be travelling to Ayodhya

Kamal R Khan calls Mika Singh ‘anpadh gawar sooar’ after the singer released a diss track titled ‘KRK Kutta’: Here is how the feud...

The feud between KRK and Mika Singh descends to calling each other ‘dogs’ and ‘pigs’, here how it unfolded

Nikhil Kamath disregarded Viswanathan Anand’s request to not use his name in public communication after cheating, says grandmaster’s wife

Zerodha co-founder Nikhil Kamath recently apologised for using unfair means to defeat Chess grandmaster Vishwanathan Anand

Young billionaire Nikhil Kamath’s account closed by as he admits cheating in charity game to defeat Vishwanathan Anand

Nikhil Kamath created quite the flutter recently after he apparently defeated Vishwanathan Anand in a game of chess.

Rohingyas settled all over UP with forged Aadhaar, voter IDs, fresh arrests reveal they are getting financial aid too: Report

ADG informed that the Rohingyas have settled in every assembly constituency with forged voter ID cards.

60-year-old woman gang-raped in front of her grandson: More horror stories emerge from Bengal as women speak up in SC

Women in West Bengal have moved the Supreme Court narrating the details of the horrifying gang-rapes they were subjected to in the post-poll violence by the members of ruling party.
- Advertisement -


Connect with us