India: A Failed State and Sham Secular Democracy

[RiazHaq]

Capital suggestion

Dr Farrukh Saleem

HERE'S what is happening in India: The two Ambani brothers can buy 100 percent of every company listed on the Karachi Stock Exchange (KSE) and would still be left with $30 billion to spare. The four richest Indians can buy up all goods and services produced over a year by 169 million Pakistanis and still be left with $60 billion to spare. The four richest Indians are now richer than the forty richest Chinese. [current rating shows the elder brother Mukesh’s total wealth is 22 billion US dollars]


South Asia Post

The media's headlines about the newly-minted Indian billionaires need to bring sharper focus on the growing rich-poor gap in India. On its inside pages, The Times of India last year reported Communist Party leader Sitaram Yechury's as saying that "on the one hand, 36 Indian billionaires constituted 25% of India’s GDP while on the other, 70% of Indians had to do with Rs 20 a day". "A farmer commits suicide every 30 minutes. The gap between the two Indias is widening," he said.

Haq's Musings: Grinding Poverty in Resurgent India

 

[karan.1970]

In my view, India is in a transient state at this time. Now the ideal thing would be for all the citizens to get uplifted at the same time, but then we dont live in the ideal world. In a country recovering from a few centuries of exploitation due to foreign rule, the resources are surely not available in abundance. So the resources for upliftment of the masses from poverty also need to get generated. Now it can be done by the state (like China did) but then they did not have to contend with coalition politics or the slow speed of democracy. The other alternative is the capitalist way, in which the the Entrepreneurs become richer and in turn increase the over all wealth of the country and thru increased commercialization and industrialization, uplift the poor of the country to some extent. India at this time is in middle of this process where you can see the Entrepreneurs reaping the fruits of success in terms of wealth and you can see the signs of the impact this wealth has started to have on the over all economy. India baiters aside, just last 10 years have changed the complexion of the country extensively. In my view , a major event aside, the number of 40+% below $1.25 a day should get knocked down to single digits in less than 10-15 years from now...Considering this number was above 60% a couple of decades back. and the rate of decrease has been increasing year on year...

 

[Barack Obama]

Since when second fastest growing economy became a failed state?

Definition of a failed state - A country which is the epicenter of terrorism and is at the mercy of another country for aid to meet its domestic requirement is a failed state.

Well, i dont see India getting aid from another country.Yes we have our own issues like poverty, corruption etc, no one doubts that. But we solve our problems with our own money.

I can see you getting so obsessed with India's development.

Check this out, Where is INDIA?

Failed State Index 2009 - Pakistan at 10th — Pro-Pakistan

 

[RiazHaq]

Since when second fastest growing economy became a failed state?

Definition of a failed state - A country which is the epicenter of terrorism and is at the mercy of another country for aid to meet its domestic requirement is a failed state.

Well, i dont see India getting aid from another country.Yes we have our own issues like poverty, corruption etc, no one doubts that. But we solve our problems with our own money.

I can see you getting so obsessed with India's development.

Check this out, Where is INDIA?

Failed State Index 2009 - Pakistan at 10th — Pro-Pakistan

India not getting aid from another country? India still has the biggest begging bowl of all nations, and it tries to fill it with billions of dollars each year in grants and soft loans.

In spite of all of the recent news about aid to Pakistan dominating the media, the fact remains that resurgent India has received more foreign aid than any other developing nation since the end of World War II--estimated at almost $100 billion since the beginning of its First Five-Year Plan in 1951. And it continues to receive more foreign aid in spite of impressive economic growth for almost a decade. At the recent G20 meeting, India has asked the World Bank to raise the amount of money India can borrow as soft loans, generally considered aid, from the bank for its infrastructure projects, according to Times of India. At present, India can borrow up to $15.5 billion in soft loans as per the SBL (single borrower limit)in soft loans fixed by the Bank.

Britain will spend over $1.5 billion during the next three years in aid to Shining India, a nuclear-armed power that sent a spacecraft to the moon recently, to lift "hundreds of millions of people" out of poverty, the British secretary of state for international development said last November, according to the Guardian newspaper.

After the increase of British aid to $500 million (300 million pounds) a year, India will still remain the biggest recipient of Japan's official development assistance (ODA) in the near future. Since Japan's first ODA to India in 1958, the country has received monetary aid worth Rs 89,500 crore (Rs 895 billion) so far, according to Noro Motoyoshi, Japanese consul general in Kolkata. In 2008, Japan's ODA to India was up by more than 18% compared to 2007 at Rs 6916 crore (Rs 69.16 billion).

The World Bank said recently it will lend India $14 billion in soft loans by 2012 to help the country overhaul its creaking infrastructure and increase living standards in its poor states, according to Financial Express.

The Indian government has estimated it needs $500 billion over the five years to 2012 to upgrade infrastructure such as roads, ports, power and railways.

Haq's Musings: Foreign Aid Continues to Pour in Resurgent India

Haq's Musings: Right to Food in India, Pakistan and China

 

[Adwitiya]

India not getting aid from another country? India still has the biggest begging bowl of all nations, and it tries to fill it with billions of dollars each year in grants and soft loans.

In spite of all of the recent news about aid to Pakistan dominating the media, the fact remains that resurgent India has received more foreign aid than any other developing nation since the end of World War II--estimated at almost $100 billion since the beginning of its First Five-Year Plan in 1951. And it continues to receive more foreign aid in spite of impressive economic growth for almost a decade. At the recent G20 meeting, India has asked the World Bank to raise the amount of money India can borrow as soft loans, generally considered aid, from the bank for its infrastructure projects, according to Times of India. At present, India can borrow up to $15.5 billion in soft loans as per the SBL (single borrower limit)in soft loans fixed by the Bank.

Britain will spend over $1.5 billion during the next three years in aid to Shining India, a nuclear-armed power that sent a spacecraft to the moon recently, to lift "hundreds of millions of people" out of poverty, the British secretary of state for international development said last November, according to the Guardian newspaper.

After the increase of British aid to $500 million (300 million pounds) a year, India will still remain the biggest recipient of Japan's official development assistance (ODA) in the near future. Since Japan's first ODA to India in 1958, the country has received monetary aid worth Rs 89,500 crore (Rs 895 billion) so far, according to Noro Motoyoshi, Japanese consul general in Kolkata. In 2008, Japan's ODA to India was up by more than 18% compared to 2007 at Rs 6916 crore (Rs 69.16 billion).

The World Bank said recently it will lend India $14 billion in soft loans by 2012 to help the country overhaul its creaking infrastructure and increase living standards in its poor states, according to Financial Express.

The Indian government has estimated it needs $500 billion over the five years to 2012 to upgrade infrastructure such as roads, ports, power and railways.

Haq's Musings: Foreign Aid Continues to Pour in Resurgent India

Haq's Musings: Right to Food in India, Pakistan and China

Mr. Riaz I fear you dont understand the diffrence between begging and loans.

Going by the same logic US also becomes one of the biggest begging bowl. check out the loans by US.

 

[M_Saint]

Mr. Riaz I fear you dont understand the diffrence between begging and loans.

Going by the same logic US also becomes one of the biggest begging bowl. check out the loans by US.

I think Mr. Riaz knows that GOI begs by leveraging largest democracy, charming through Bollywood's glamor and taking ride on powerfuls whereas GOP gets black mailed to beg by pointed gun at its neck. Begging or loaning, in either case money ultimately needed to be returned with interest.

 

[RiazHaq]

Mr. Riaz I fear you dont understand the diffrence between begging and loans.

Going by the same logic US also becomes one of the biggest begging bowl. check out the loans by US.

I am afraid you don't understand that grants and SOFT loans are both aid.

The US has a AAA debt rating. It does not need soft loans like India or Pakistan.