Guntur: Financial institutions urged to help mitigate inequalities

Guntur: Jana Chaitanya Vedika president Vallamreddy Lakshmana Reddy took part as a guest of honour at the annual general body meeting of Capital Consultancy Services here on Sunday

Addressing the meeting, Lakshmana Reddy appealed to the financial institutions to strive for mitigating the inequalities among people across the country.

According to the World Inequalities Lab report, 10 per cent of the families hold fifty per cent of the wealth in India and 50 per cent of the population holds only 10 per cent of the wealth. It is disheartening to note that out of every three illiterate, unemployed and poor across the world one person is Indian. India, which occupies the fifth place in gross national product, remains in the 143rd place in human resources development, Reddy said.

The financial institutions like Capital Consultancy Services should help the poor to bring down the inequalities in society. Capital Consultancy chairman D Manjunatha Reddy, Sarojani Devi, P Venkata Reddy, Subba Rao and others were present.