Probity in governance

According to a recent research paper by Thomas Piketty, the eminent French economist,  top 0.1% of earners in India captured a higher share of the total growth than the bottom 50%. This shows that there has been no ‘inclusive growth’ in India.

The skewed income distribution patterns depict that the policy making in India has neither favoured the ‘utilitarian approach’ nor the ‘common goods; approach. The nexus between the politicians and corporate (‘crony capitalism’) and the resulting corruption has led to concentration of wealth and power in the hands of a small minority.

Rather than assuming the role of trustees of wealth, as Gandhi prescribed, there is an absolute lack of empathy and values like altruism and philanthropy. Due to the general degradation in the moral fibre of the society, there is unwillingness among the ‘haves’ to part with the wealth and power for the benefit of the majority.

Consequently, India is witnessing the phenomena of ‘enclaves of modernity and prosperity for a small minority at the cost of the majority’.