The economic equality in our nation has doubled in our country in the last two decades. And this has made India the worst performer amongst the developing nations. What is more ‘contributing’ to this widening phenomenon is that the top 10 % of the economy earn 12 times more than the bottom 10 %. When it comes to the middle line of the economy, that is the middle class, it is again the top 10 % that calls the shots. They make 5 times more than the median people, while the medians make just 0.4 % more than the bottom 10 %.
Monthly Archive: September 2012
How is the common man affected from Coal Scam?
Coal mines are the gold mines of our nation. Coal amounts to 56 percent of electricity production in our country. In the December of 2011, over 300 million Indian citizens lacked access to electricity. To add to the bitterness, over one third of our country’s rural population sunk in blackouts, and so did 6 percent of the urban populace. All this had badly disturbed irrigation and the manufacturing processed across the length and breadth of the country. What is more painful is, despite our country being the fourth largest energy consumer after USA, China and Russia, it presently suffers from acute shortage of electricity generation. The IEA (International Energy Agency) had drawn out estimates and stated that India needs an investment of around $135 billion in order to provide 24/7 power supply to its entire population of 1.2 billion. Yes, $135 billion, still less than the loss acquired because of the Coal scam.