'What is the Point in $5 Trillion Economy if Majority are Poor?' Kapil Sibal Asks in Rajya Sabha
New Delhi: Achieving a $5 trillion economy will have little meaning if the majority of people in the country are poor, Congress leader Kapil Sibal said in Rajya Sabha on Thursday.
Sibal said under the circumstances the question was not of becoming a $5-trillion economy but of raising the per capita income.
"In Mumbai, 60 per cent people are poor and only one per cent are rich but its GDP is impressive," he said.
"Three of these cylinders of the economy have collapsed and the fourth is on the verge of collapsing," he alleged.
Delivering his maiden speech in Rajya Sabha, Vijay Pal Singh Tomar of the BJP said the Budget has accorded priority to women and the rural economy.