India is the fourth largest economy by purchasing power parity and it’s growing at 7-8%. India is one of the least affected countires during the current economic recession. It is set to emerge as the fastest growing economy in few years, reckons economic pundits.
India changed the tacts after the 1991 debacle and opened the doors for LPG – liberalization, privatization and globalization. India managed to remain as one of the most favorable investment destination in the last 2 decades. The growth is outbound; we got the BIG money flowing in from foreign investors.
It’s been close to two decades and we see the notion that ‘only rich grow richer and poor gets poorer’.
How do we work out equitable growth? Do policy makers really care about that?
Equitable growth largely depends on the socio-economic factors. Fulfilling the basic necessities for all is in itself a daunting task. Not that it is hard to achieve, but it’s hard to change the mindsets of vote-driven politicians. We are still far away from sorting out the issues in basic education, health and poverty. However political parties come up with fake, pleasureable and short term benefits and promises. People should reject this without any reservation and fight for their basic rights.
Globalization might have resolved many of our problems, but the path towards equitable growth is even harder. It requires strong political will for equity and justice.
Mohamed Aslam
Maheswaran
Cognitive Factor 