India’s extreme wealth inequality was brought to light by Shantanu Deshpande, who pointed out that 2,000 households own 18% of the country’s wealth but pay very little in taxes.
In a post on LinkedIn, the founder and CEO of Bombay Shaving Company said that the wealth disparity between the affluent and the poor is “insane.” According to Shantanu Deshpande’s analysis of contemporary workplace culture, economic disparity pushes individuals into unappealing occupations. According to him, most Indians labor to survive rather than to find fulfillment in their jobs.
2,000 households possess 18% of India’s wealth, yet they barely pay 1.8% in taxes, according to Deshpande. According to him, these families are at fault for spreading the notion that perseverance would pay off since it advances their ultimate objective. This information could not be independently verified by HT.com.
“The majority of people dislike their jobs.”
The CEO of Bombay Shaving Company stated on LinkedIn that “the majority of people don’t enjoy their jobs,” which is one of the unfortunate and late realizations he has experienced.
“99% of people in India wouldn’t report to work the following day if they were given the income and financial stability that their current jobs provide.”
According to Deshpande’s theory, people’s distaste for work is a universal phenomenon. Whether they are government employees, gig workers, or professionals at “fun and employee-friendly startups” like his own, most people would quit if they were not required to make a livelihood.
“Work is a majboori to provide for dependent siblings, elderly parents, spouses, and children,” he added.
Inquiring about the unfairness
According to Shantanu Deshpande, it has been accepted for ages to deprive individuals of their families from dawn till night, supposedly in order to support them.
He has, however, begun to wonder more and more about the rationale for such a work culture.
“With the promise of a paycheck, we usurp someone away from their homes and families for the entire day, sometimes for days or weeks, and we just assume it’s okay to do that because that’s what’s been going on for more than 250 years.”
“Nations have been constructed in this manner. We thus take action. However, the creator and CEO said on LinkedIn, “I’ve been questioning the unfairness of this more and more.”
Deshpande brought attention to the inequality of wealth in India.
Regarding the issue of wealth disparity, he offered some “crazy” figures. 18% of the nation’s wealth, according to Deshpande, is concentrated in the top 2,000 households.
He stated that these families surely do not pay even 1.8% in taxes, but he acknowledged that he was unsure of the figures’ correctness.
Eighteen per cent of India’s wealth is owned by 2000 households. That is absolutely CRAZY. “I don’t know the exact figures, but they certainly don’t pay even 1.8% of taxes,” the creator, an IIM graduate, thought.
“These families and other ‘equity builders’ like myself (the tiny version, hehe) are guilty of promoting a ‘work hard and rise up’ narrative because, apart from the fact that it is self-serving, there is no other choice. He went on, “We don’t know of any other way.”
On the professional networking site, his article caused controversy. Deshpande’s perspective was disputed by a number of people.
“Although 99 per cent of corporate workers might not be present, nations are not built only by them, which is sad. Among many others, farmers, educators, engineers, healthcare professionals, and street sellers build a nation. The majority of them will still report to work, I assure you! One individual posted in the comments area.
“I disagree with this generalization: 99% of Indians would not report to work the following day if they were given the sustenance money and financial stability that their current jobs provide,” another person stated.
