Number of poor rising, wealth getting concentrated in a few hands: Gadkari

In an 'admission' that can make the PM Narendra Modi uncomfortable, Union minister Nitin Gadkari on Saturday expressed concern over the rising number of poor, and said wealth was getting concentrated in the hands of a few rich people.

There is a need for decentralisation of wealth, Gadkari said during an event in Nagpur, where he touched upon a range of issues, including agriculture, manufacturing, taxation and public-private partnerships in infrastructure development.

"Slowly the number of poor people is increasing and wealth is getting centralised in the hands of some wealthy people. It should not happen," the road transport and highways minister said.

The economy must grow in a manner that creates jobs and uplifts rural areas, he said.

"We are looking at an economic option that will create jobs and (give a boost to the) growth of the economy. There is a need for decentralisation of wealth, and many changes have happened in that direction," he said.

The senior BJP leader also credited former prime ministers P.V. Narasimha Rao and Manmohan Singh for adopting liberal economic policies.

Referring to India's economic structure, he pointed out the imbalance in sectoral contributions to GDP.

"Manufacturing contributes 22-24 per cent, services 52-54 per cent, while agriculture, despite engaging 65-70 per cent of the rural population, contributes only around 12 per cent," he said.

Invoking Swami Vivekananda, Gadkari said, "Philosophy cannot be taught to someone whose stomach is empty."

Notably, the Modi government has always denied that its policies are resulting in rising economic disparity in the country. This is perhaps for the first time that a Union minister has admitted to what independent economists have been saying for years.

(With PTI inputs)