The oft repeated slogan of india shining along with projections of high figures of GDP growth and talk of india becoming an
economic giant fast catching up with others on high growth path is very interesting.
It is realised that india growth story is consumption led with top 10% population consuming all discretionary purchases and
economy is basically producing to feed their hunger for good life.I n course of time this is likely to level off .
India's growth is not export based like ASEAN nations.We are net importers of crude oil besides food imports to to check
prices
Now this consuming class is looking outwards ,going abroad on fancy holidays, taking dual citizenship adding a foreign
country , spending and spending more abroad than in india.
All this will hurt india's poor ultimately besides shrinking existing middle class ability to be mobile upwards.
It appears india is shining only for the upper classes and future is bleak for the others.
Am I imagining or is it the likely scenario.?
economic giant fast catching up with others on high growth path is very interesting.
It is realised that india growth story is consumption led with top 10% population consuming all discretionary purchases and
economy is basically producing to feed their hunger for good life.I n course of time this is likely to level off .
India's growth is not export based like ASEAN nations.We are net importers of crude oil besides food imports to to check
prices
Now this consuming class is looking outwards ,going abroad on fancy holidays, taking dual citizenship adding a foreign
country , spending and spending more abroad than in india.
All this will hurt india's poor ultimately besides shrinking existing middle class ability to be mobile upwards.
It appears india is shining only for the upper classes and future is bleak for the others.
Am I imagining or is it the likely scenario.?