 if you grew up in the 1970s and early 80s your life was probably somewhat like this and when you went to the cinemas most movies were about working class heroes अम मज्दूरों का सीना लोहे की दिवार है और ये हमारे हत्यार है ये हमारा पेट पाल भी सकते हैं अद तुम जैसों का पेट फाल भी सकते हैं and then 1991 happened we have to accept the need for restructuring and reform if we are to avoid an increasing marginalization of India's in the evolving world economy the celebrated Rao Manmohan reforms, liberalization made everyone prosperous now everyone could dream of becoming a Karo Pati and remember that working class hero well he was still working but his style had now become slightly different there can be no doubt that a section of India's population has seen great prosperity in the last 30 years make a first world consumer envious but what happened to the working class hero here is the government's own data between 1991 the year before liberalization and 2019-20 over 29 years the average wages of factory workers have gone up 8.4 times from about Rs 1,750 per month to more than Rs 14,500 right now and if you compare it to the average wages in 1981-82 then the rise is 24 times from just Rs 600 to as I said more than Rs 14,500 but if wages have gone up so has the cost of living so for us to be able to compare apples to apples we have to reduce everything to Rs 81-82 prices to find out what a wage today could have bought in 81-82 now the growth looks less spectacular between 1981-82 and 1991 real wages of factory workers went up at the rate of 2.3% per year this is over and above inflation real wage growth between 1991 and 2018-19 which is the post liberalization year real wages grew at just 0.5% per year but you will ask how can that be true I was just talking about all this prosperity what happened to that all of that went to the rich the owners of assets between 1981-82 to 1990-91 before liberalization profits grew at 3.4% per year adjusted for inflation in the next 28 years the rate of growth increased to 4.3% so real wage growth in factories fell from 2.3% to just 0.5% post liberalization while annual real growth in inflation adjusted profits increased from 3.4% to 4.3% now the change in growth of profit seems like a small number but when you take into account that this has gone on for 28-29-30 years it becomes very large and it makes a huge difference to the share of income between those who work and those who own capital in the 1980s before liberalization the share of wages was 39% and profits was 24% since then the share of wages has dropped to just 19% and that of profits has risen to 58% you will notice that these two numbers don't add up to 100% because every factory actually generates income for various groups of people workers who get wages owners of the factories who get profits but there are others who lease out land, commercial property and those who give loans they get rent and interest now look at the break up those who earn from rent interest and profit are usually going to be the rich those who earn from wages are the poor who are going to be workers in the 1980s the share of profit, interest and rent in total value added was 61% after liberalization it has gone up to 81% which tells you that all the prosperity after liberalization has been garnered by a small group of asset owners not more than 2-3% of India's population probably even less this is all government data and it proves that not only has inequality increased dramatically after liberalization but in real terms it has turned out to be worse for the working classes that's the show today keep watching news click subscribe to us like this video and share it amongst your friends and family