Insight
‘Indian economy’
by Anil Juyal
Apeejay School of
Management
‘Indian economy’, one of the fastest growing economy in the world,sensex touching new height everyday, GDP growing at more than 8%, Indian companies becoming global and are acquiring international firms bigger than their sizen (tata steel acquiring corus, tata tea acquiring Tetley), Indian middle class which is 30% of total population is on consumption spree thereby providing huge market for companies, this part of my country is known as India, where people lives in suburbs,apartments,do shopping in malls.
There is the other part which is called Bharat where farmers are committing suicide (Vidharba in Maharashtra, AP),students are studying in schools where there is no roof ,farmers are waging a battle against state acquisition of land(Nandigram in West Bengal),India is shining only for few people.
We cannot think of achieving the president’s dream of 2020(i.e. making India developed country) if there is such a huge gap between these two parts, and this gap is increasing day by day, nowadays we compare Gurgaon with Bangalore or Hyderabad, MNCs are opening their branches in this city, and this same state has the largest proportion of unemployed youth(as registered in employment exchange). Move deep into the city and you will see stray animals moving on the roads, potholes, no water, no electricity and a lack of proper sewage facility.
Agriculture which contributes 23% to GDP, supports 70% of the Indian population is in a dismissal state, growing at less than 3%, productivity is very low, given a chance most of the farmers would leave there occupation .
Some suggestions
• Excess population from agriculture should be absorbed into other areas like horticulture, SME.
• More than 35% of agricultural goods are spoiled or get destroyed before they reach the consumer, opening of retail sector to FDI would be a boon to the farmers, as these retail giants would be establishing their supply chain, but to fight against bargaining power of these giants, farmers can form cooperative groups like AMUL.
• We need globalization within India, i.e., rural villages should be connected to the rest of the country through roads, this itself will reduce the cost to the farmer, telecom connectivity will help farmers in getting information regarding weather, price of their products, etc.
• We have so many national schemes like Bharat Nirman, Sarvasiksha Abhiyan, mid day meal scheme but there is no mechanism to check whether it reaches the right people or not, there is no transparency or accountability in the whole process.
• India has a large proportion of youth which is an asset, but this could turn into a liability if they are not provided jobs.
• Indian corporate have benefited immensely from the environment provided by the govt., they too have social responsibility towards the people of this country, they can take-up the responsibility of govt. schools and ITI’s nearby their offices.
Nowadays a lot of discussion is going on SEZ policy, special economic zones can help us in bringing more FDI, Shenzhen SEZ in China attracts more FDI than the total FDI coming into India, exports from Shenzhen is more than the total export of India, if politics does not come into play we too can benefit from this policy.
India would be a developed country only if it would shine for all .
ANIL JUYAL (Apeejay School of Management)
Disclaimer : The views
expressed in the articles are author’s own views B’Cognizance or
IIITA is not liable for any objections arising out of the same.
The matter here is solely for academic use only.