For whom is India Shining?

[krish44]

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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.?

 

[prasad1]

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.?

You and few like you are bleeding heart liberals. But unfortunately that is a dying breed like the Dodo bird.
The present generation around the world, they are self centered, and care about themselves alone.
In my case all my next generation here in the Usa and India are super rich, they think I am cheap (I am frugal). I feel this trend of consumption centered GDP growth will continue in my life time.. I can not be judgemental about the trend.

 

[krish44]

You and few like you are bleeding heart liberals. But unfortunately that is a dying breed like the Dodo bird.
The present generation around the world, they are self centered, and care about themselves alone.
In my case all my next generation here in the Usa and India are super rich, they think I am cheap (I am frugal). I feel this trend of consumption centered GDP growth will continue in my life time.. I can not be judgemental about the trend.

I personally will give a maximum of a decade for growth phase to end in india.

Only my next generation ought to worry about this growth levelling

We have changed our class from middle to slightly higher upper middle class.

My next generation is composed of high earning elitists.

They look down on my life style of staying in budget hotels and taking autos if there are no ola or uber

and consuming cheap IMFL liquor instead of Chivas Regal and smoking charminar instead of Dunhill, Buying

400rs shirts from sarojini nagar market instead of foreign brands.

I do not know for what rainy day we are saving for at the fag end of life

 

[krish44]

How can shine return to lives of have nots?

India's major political parties are working to enable industries in private sector to perform.

The private sector hardly go to backward states like jharkhand or chattisgarh and head for well developed

states besides going for high degree of automation ignoring labour intensive solutions.

There is a massive migration of skilled and unskilled labour from these states and north east to southern

states where many end up as bonded labour.

Unless this trend is reversed and govt and private sector adopt the poor states and start labour intensive

projects and even forcibly end the migration thru a package of incentives to stay and disincentive to shift

elsewhere, these states can only go further downhill.

Will central and state govts bite the bullet and take unpleasant decisions to discourage migration , Southern

states are likely to be swamped by the have nots from backward states of the north and north east

 

[krish44]

If one goes to sarojini nagar market in delhi, buys unbranded shirts costing Rs 400, one finds that these have been

made in bangladesh.

There is no particular reason that jharkand and chattisgad cannot make these shirts.No help is given to them

by govt to make this possible.

When Tatas set up steel plant in jamshedpur in 1907 and developed the city in jharkand, they did not think of

profit alone.

Both govt and private sector need to work together to make cities of jharkand and chattisgarh prosperous by

encouraging local skills and employ them in large numbers.

These states and north east should work to stop the outflow of labour class to south and destroying their

economy by putting pressure on their resources.

Chinese created zones and restricted the outflow of people from one zone to another.

Jndia being democratic is callous to the plight of the labour class in these backward states .

These states need a responsive govt to fulfill their needs of shelter, food,education ,health.

70 years of democracy have not helped these people for whom freedom from wants is a dream

 

[prasad1]

You set your goal, try hard to reach the goal. If you fail try it again, and it still eludes you, instead of accepting defeat, just change the goalpost to where you can reach.

 

[usaiyer]

Our handling of economic issues are driven by hindsight ,not based on proven realities,Mostly we are guided by or mostly mis- guided by examples of advanced west.Our nevouex rich instead
saving and investing indulge in conspicuous consumption.
expensive clothing,luxury cars ,five star dining,partying/expensive marriages are nothing but aping of the west.
We have abundant production of food grains ,vegetables ,but
still we have to spend high percentage of our income in food items unlike in the U.S
The problem in the economy is in not generation of wealth,which
any way is bound to happen,but correcting the income distribution which is skewed,
We have to pray for good days for the younger generation
and help them realize their dreams.