Dr Arvind Panagariya Unpacking the Claims of Rising Inequality in India

During the BT Banking & Economy Summit, Dr. Arvind Panagariya, Chairman of the 16th Finance Commission, engaged in a conversation with Siddharth Zarabi, Managing Editor of BTTV. Dr. Panagariya refuted claims of increasing income and wealth inequality in India. He emphasized that inequality encompasses various measures, and it's always possible to find metrics that indicate rising inequality. Dr. Panagariya criticized alarmists who exploit such measures, highlighting that wealth creation is inherent to economic growth. He asserted that when a country generates wealth, certain individuals are bound to create it. The crucial aspect, he emphasized, lies in how this wealth is allocated for further productive growth.