A recent study by World Economic Forum states exponential gap between the rich and poor. McKinsey defines any person earning below USD 2 per day to be poor or below poverty line. With tremendous focus on capitalization and government's preference to give tax benefits to large corporations and business to create wealth and jobs is one of the vital factors. This adversely effects economy, as its middle class and low earning income population are under tremendous pressure to pay taxes to the government.
The report states that people below poverty line intend to depend more on government benefits than trying to upskill themselves. Illiteracy, focus of industrialization in certain geographical areas, quota system play a pivotal role in demoralizing the major portion of the population.
There shall be proactive actions taken both by government and the public. There shall be focus on training based employment, train an individual in a certain area of expertise and then give equal opportunity for employment, growth and development. Low cost or free education through setting up of universities in remote areas encouraged. Primary focus on woman employment, providing monetary benefits to small enterprises are relevant factors be considered.
The tax laws of the country shall be reformed, enforcing tax slabs for the corporations to pay as per their revenue. Rural industries need to be encouraged to export their products and a fairly competitive rates as well. There shall be structural changes at the ground level in order to ensure that there is utmost transparency
A recent study by World Economic Forum states exponential gap between the rich and poor. McKinsey defines any person earning below USD 2 per day to be poor or below poverty line. With tremendous
focus
on capitalization and
government
's preference to give
tax
benefits to large corporations and business to create wealth and jobs is one of the vital factors. This
adversely
effects economy, as its middle
class
and low earning income population are under tremendous pressure to pay
taxes
to the
government
.
The report states that
people
below poverty line intend to depend more on
government
benefits than trying to upskill themselves. Illiteracy,
focus
of industrialization in certain geographical areas, quota system play a pivotal role in demoralizing the major portion of the population.
There shall be proactive actions taken both by
government
and the public. There shall be
focus
on training based employment, train an individual in a certain area of expertise and then give equal opportunity for employment, growth and development. Low cost or free education through setting up of universities in remote areas encouraged. Primary
focus
on woman employment, providing monetary benefits to
small
enterprises are relevant factors
be considered
.
The
tax
laws of the country shall
be reformed
, enforcing
tax
slabs for the corporations to pay as per their revenue. Rural industries need to
be encouraged
to export their products and a
fairly
competitive rates
as well
. There shall be structural
changes
at the ground level in order to ensure that there is utmost
transparency