Spokesperson: Smt. Supriya Shrinate: She said that India’s debt to GDP ratio is at a massive 84 per cent for emerging market economies, for developing economies and average debt to GDP ratio is at 64.5%. Why is our debt ratio so alarming?

Who is benefiting from this high debt? Is it India’s poor? Is it India’s middle class? Is it people like you and me? No, because the number of billionaires in India has certainly gone up from hundred and two in 2020, to hundred and sixty-six in 2022 and they are the biggest beneficiaries of this debt.

The bottom 50 per cent of India has 3 per cent of the country’s wealth, but, paying 64 per cent GST taxes. The top 10 per cent of India has 80 per cent of India’s wealth and is paying 3 per cent of GST collected. And what is being done about them? Nothing!

Mr. Modi as Chief Minister of Gujarat, used to call the Central Government incompetent, inefficient and corrupt and I think those three adjectives fit this government and Mr. Modi no better, than any other because economic mismanagement of this government has resulted in a ruined Indian economy.

In the end from this platform, we demand that a white paper be released on the Indian economy by the government because the fault lines are only getting deeper. Saturday, June 10, 2023