Golden opportunity for India to raise living standard of millions.

Golden opportunity for India to raise living standard of millions.

Our per capita income is meager $1820 vs approx. $36000 of developed countries. Simply it’s 20 times less than developed countries. As per IMF our per capita Income ranking is 139 among 184 countries.

How it impacts us?

An average Indian faces challenge of Inferior/congested roads, slow/delayed/filthy and overcrowded trains,  lack of public transport, lack of hospitals, lack of jobs, lack of justice, low life expectancy, week intelligence system, lack of sports facilities, lack of electricity, lack of sewerage/waste disposal system, lack of safe drinking water, lack of school/teachers, lack of social security coverage, lack of arms and ammunitions for armed forces, lack of insurance penetration, lack of policing and encounter with mass scale corruption.

Why so many multi challenges we do face? Obviously various reasons are there but most important reason is shortage of fund with Govt. Do you agree that Govt needs money to provide above all facilities? Off course the answer is yes. Govt gets money mainly from taxes paid by its citizens. If by & large, citizens are poor then it’s very difficult for Govt to collect huge tax. So challenge for relatively poor countries multiply manifold in absence of large fund basket.

So it’s vicious circle. Poor citizen leads to low tax collection and low tax collection leads to less money in hand of Govt and less money with Govt leads to inadequate facilities and inadequate facilities leads to poor national wealth creation and poor wealth creation keeps it’s citizen remain poor.

Only solution to this problem in injection of money in the system  hence Govt takes loan from IMF/World Bank/Asian development Bank etc and also promotes Foreign Direct Investment (FDI). With this additional money in hand Govt tries to strengthen country’s  fundamental  economic boosters like Electricity production, road & rail infrastructure development, research, healthcare and education so that these things supports rest wealth creating industries.

Currently economy in most parts of the world is in crisis. India has emerged has bright spot.  China is losing its’ grip over mass scale production on account of raising wages. India can become manufacturing hub while will create mass scale employment. If we are able to fix our problems then there is huge scope of FDI in India.

Let’s for the sake of more than 20 crore Indians who are living below poverty line, push ourselves little more. We must support GST bill, Land bill, labor reform, pension reform and insist on removal of red tapism.

This is golden opportunity for our country to raise living standard of millions.

Let’s debate, criticize, correct ourselves but move ahead.

Let’s do it!!

 

“Jai Hind”

Manoj Tripathi

(Views are personal)