India Is 3rd In Number Of Forbes Billionaires And 130th In Human Development Index

[The_Showstopper]

India Is 3rd In Number Of Forbes Billionaires And 130th In Human Development Index

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“In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed’’. Confucius



According to one statistic, India has the third highest number of billionaires in the Forbes list behind the United States and China. India barely had any billionaires during the pre-liberalisation era. The growth of a number of billionaires is commendable however it raises important questions about the development story of India itself.

Growth has reached only a few

The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. India’s position in the ranking of HDI is 130 while in 1991 it was 133. The inference is, development and the consequent availability of additional resources have not been invested “adequately” in improving health and education for the masses. To put in perspective Srilanka ranks 73 in the same HDI ranking whilst the ten countries ahead of us includes Iraq, Morocco and Tajikistan among others.

Social Expenditure is woefully low

Expenditure on education as a proportion of GDP stands at 3.4% in 2014-15 which is woefully low compared to the Kothari Commission (set up in 1964-65) and National Education Policy recommendation that recommended 6 percent of GDP.

Health expenditure as a percentage of Gross Domestic Product (GDP) for 2014-15 (BE) is 1.2 percent, one of the lowest in the world. Low health and education expenditures mean, the vast majority of the population could not get the chance to capitalize on India’s growth story.

How do we define developed country

National development refers to the ability of a nation to improve the lives of its citizens. Measures of improvement may be material, such as an increase in the gross domestic product, or social, such as literacy rates and availability of healthcare. While it is more than welcome that billionaires are rising in India, however, policymakers should focus on inclusive development by improving the health and education of the masses so that they could contribute to the growth of the country.
The Logical Indian requests the citizens of our country to raise their voice to the politicians and parties they voted and demand for better investment in health and education to ensure the benefits of development reaches to the maximum.

Author – Dr. Malar Kodi

https://thelogicalindian.com/story-...onaires-and-130th-in-human-development-index/

 

[ito]

Yes, irony. But people forget that the billionaires are those most likely to run huge companies that provide hundreds and thousands of jobs. Reliance is one of the largest private employers with more than 3 lac people working for them directly and tens of thousands earning their live hood indirectly. I don't have problem with the number of billionaires, more the better. What I am concerned more is the growing divide between rich and poor. It means the fruit of economic development in not being shared between different classes equitably. You cannot have a society where rich become richer and poor becomes poorer, a recipe for disaster.

 

[I M Sikander]

The gap is ever increasing between have and have nots all across the world.

 

[-xXx-]

The gap is ever increasing between have and have nots all across the world.

Actually its the mindset of Indian subcontinent(Ind+Pak) population.

For e.g. We may have got democracy but general population still tend toward few families which is nothing but monarchy in disguise of democracy.

The same mentality is making rich more rich and poor have redesigned their minds to be content being poor.

 

[kaykay]

Typical socialist mindset....They are the very same people who directly or indirectly create jobs....Just for eg: My father worked with Reliance Industries Limited, Jamnagar, earned some capital and now he owns a small construction company which deals with horton sphere tanks, mounded bullets etc and at least 100 workers are working with us.

 

[Sky lord]

What we forget is that infact everyone including the poorest are better off today than a hundred years ago.....much better off. A hundred years ago hardly anybody went to school today enrollment in primary is close to 100%, the same for most criteria like gender equality, health care, long life etc.

The rich are getting richer faster than the poor are leaving poverty but that doesn't mean the poor are not improving.

You need certain basic factors to improve your economic situation, unfortunately 60 years of Congress rule has only made a lot of Congress politicians and their sycophants very rich, improvements of services on the ground for the very poorest has not kept up with the need for it. The father of the guy in the picture, Dhirubhai Ambani became rich mostly through the manipulation of corrupt Congress politicians.

Hopefully this will change with better governance and awareness, let us re asses in 10 years time.