A nation of contrasts

Can poverty co-exist with prosperity? It’s a question which inevitably arises when India slips three spots from last year’s 117 to rank 120 on the 17 Sustainable Development Goals (SDGs) adopted as part of the 2030 agenda by UN member states.

And yet when it comes to billionaires, we are at third place in the world with 145 of them, second only to the US and China! No less impressive is the number of ultra-high-net worth-individuals with net assets of USD 30 million which grew to 13,637 in 2021 from 12,287 in the previous year, up 11 per cent.

We are a nation of contradictions no doubt but can we have such glaring inequality with India falling behind most South Asian nations in 11 SDGs including zero hunger, good health, gender equality, clean water, sanitation,affordable energy, decent work, economic growth, industry, innovation, infrastructure and reduced inequality? Even Bhutan and Nepal fare better in the index at 75th and 96th place respectively!

The goals have been set to ensure better living and that has sadly not been happening. Despite all that talk on ‘sabka saath sabka vikas,’ governments have not been able to improve on basic facilities for those who need them most. There is no dearth of welfare schemes and those in power have been tom-tomming about how the lot of the deprived has substantially improved. So why do the figures in CSE’s State of India’s Environment Report say otherwise?

At the other end of the spectrum are the super-rich, whose numbers have gone up by 11 per cent. The buoyant equity markets and the digital revolution, have led to this jump, says The Wealth Report 2022. For those in the IT City aspiring to hit the heights, there is good news as Bengaluru witnessed the highest growth in high net worth individuals at 17.1 per cent to 352. In the next five years, Bengaluru’s high net-worth population is expected to touch 665.

There is no doubt a lot to be proud about for our budding entrepreneurs and startup whizzkids have been doing a lot of good to the economy but where do these mind-bogging figures place us as a nation? Are we on the right trajectory as far as development is concerned or have we deviated from the path of social justice and fairness propagated by our founding fathers? Can any nation afford to forge ahead focusing on the affluent hoping the ‘trickle down’ effect will transmit the benefits of higher wealth, growth and GDP to the poor? It’s a question every Indian will have to ponder over as we put the despair and loss wrought by the pandemic behind us and set new goals and a lofty vision for the days ahead.