RJD's Manoj Jha demands govt action to address rising income inequality

New Delhi: RJD MP Manoj Jha on Friday urged the Centre to take "urgent steps" to address rising income inequality, saying disparity in earnings was not just a challenge for the economy but also a threat to social stability.

Raising the issue during Zero Hour in the Rajya Sabha, he said the middle- and lower-income groups were witnessing a decline in their earnings while the income of the rich was rising.

"Income inequality is affecting several aspects of our lives. The income of the millionaires and the billionaires is rising ... We have no complaint with that but there is a parallel, sharp decline in the incomes of the middle- and lower-income groups, especially the unorganised sector," the Rashtriya Janata Dal (RJD) leader said.

"Post Covid, this trend has become faster. The elite class' income has increased but, in comparison, the marginalised group, the working class, is witnessing a decline in their earnings," he said.

Jha asserted that income disparity affected the economy as well as social stability.

"It also affects democracy. Because when capital becomes concentrated, it influences politics. And when capital starts dominating politics, it is our collective responsibility to get out of it," he said.

"It also affects education, health care. If we do not take strong and immediate steps, we are sitting on a volcano," the RJD MP added, urging the government to take action.