Indians say their lives are getting worse, despite fast economic growth

[Armstrong]

According to what I decipher from Indian economy statistics, their performance is pretty impressive. However, the income distribution remains a problem. India has more billionaires than China despite having a lower GDP.

Thats something that afflicts most countries ! I believe a return to some of the better ideals espoused by 'Socialism' would make the world a better place...!

 

[King Solomon]

Thats something that afflicts most countries ! I believe a return to some of the better ideals espoused by 'Socialism' would make the world a better place...!

Not really. I personally believe capitalism is the best system. Socialism, communism etc are collective systems which are never good in the long run.

Rather the real reason is the corruption rife in many developing countries like that of south asia. This is the single biggest reason of income inequality.

Nevertheless, even in a clean society, there will be those who are rich and those who are poor. This is a natural phenomenon.

 

[Roybot]

Education is the key. As per the survey, least educated are suffering the most. India needs to invest more and more in the education system, and make sure the money going into the public education system is utlized properly. Government run primary schools would be a good place to start.

 

[Armstrong]

Not really. I personally believe capitalism is the best system. Socialism, communism etc are collective systems which are never good in the long run.

Rather the real reason is the corruption rife in many developing countries like that of south asia. This is the single biggest reason of income inequality.

Nevertheless, even in a clean society, there will be those who are rich and those who are poor. This is a natural phenomenon.

I would beg to differ; a 'collective system' of economics is an extension of the most hallowed collective system of them all - Democracy ! Either way, the critics of Capitalism, argue, and perhaps rightly so, that it isn't a sustainable system in the long run because it ignores (to a very large extent) every other stakeholder in a business except those who've provided Equity ! And so that drive for profit overrides everything from a Company's Corporate Social Responsibility to the unequal distribution of wealth in the society. What we need instead, is perhaps 'Democratic Socialism' which in turn leads to 'Economic Democracy' whereby those Charged with Governance are elected to Directorship by all significant stake-holders having a vested interest in that Financial Entity just like a Democracy would work ! Let the Environmentalist, the Economists, the Workers, the Management, the Shareholders, the Suppliers, the Customers etc. - let them all decide ! And let the Purchasing Power of individuals be much more equitable to the price placed upon the Output of these Enterprises. Now one may follow the Nordic Model (to work within the existing system) or something a bit more revolutionary, to achieve a more equitable distribution of wealth and a sustainable production !

 

[FairAndUnbiased]

Not really. I personally believe capitalism is the best system. Socialism, communism etc are collective systems which are never good in the long run.

Rather the real reason is the corruption rife in many developing countries like that of south asia. This is the single biggest reason of income inequality.

Nevertheless, even in a clean society, there will be those who are rich and those who are poor. This is a natural phenomenon.

That's what they want you to think. if you play their game, play by their rules, you'll always lose. How can you possibly beat the inventor of a game, at his own game? That's why all the African and Latin American countries that copied the West failed.

A command economy is the ONLY way for poor countries to become rich. South Korea, Japan and Singapore were all command economies. Even today the Singaporean government owns 60% of the economy.

This is because for backwards countries, you cannot expect to naturally win in the market. in fact that is impossible due to the Great Wall of Patents, brain drain and invisible trade protectionism. The only way is for the government to concentrate resources on strategic sectors. This can be done with subsidies, like Japan and South Korea, but it's more easily done when the government outright owns the companies like in Russia, China and Singapore.

Russia was a medieval society in 1917 and was a superpower in 1950. China was a medieval society in 1949 and though not a superpower (because we were in a much deeper hole than Russia, with much fewer resources per capita) , at least escaped starvation, disease and illiteracy at the African level. Compare to India, Philippines or African countries.

 

[shuttler]

According to what I decipher from Indian economy statistics, their performance is pretty impressive. However, the income distribution remains a problem. India has more billionaires than China despite having a lower GDP.

I dont think so!

The list has 48 billionaires from India as well as nine of Indian-origin living in countries like Indonesia, Ireland, Thailand, UK and the US, taking the total number of billionaires hailing from India to 57.

There were 96 Russians, 95 Chinese, 55 Germans,
37 British, 37 from Hong Kong, 36 Brazilians,
25 Canadians, and 24 billionaires each from Taiwan
and Japan in the list.



Around 4% of world's billionaires Indians: Forbes

 

[takeiteasy]

India's growth is pushed back because of the few eastern states which have high population growth and remains undeveloped(includes politicians-religious people mafia). not to add the neglect of tribal belt by the governments, maoist insurgency. if Uttar Pradesh and it's nearby states lifts out of poverty, India will definitely see a fast growth.

 

[IndoUS]

India's growth is pushed back because of the few eastern states which have high population growth and remains undeveloped(includes politicians-religious people mafia). not to add the neglect of tribal belt by the governments, maoist insurgency. if Uttar Pradesh and it's nearby states lifts out of poverty, India will definitely see a fast growth.

It's not just the states its also the mindset of the government. As long as we have a weak government who is incapable of making strong and faster decisions we are not going to see a faster and better growth. The government sleeps till the last minute and when a problem is at door steps they start to cry and call foul on each other. They need to work together and stop this vote bank policy. Too many important bills have still not been passed, the mounting subsidies, and the looming debt have ruined the the economic rating. Government needs to sort out things and start to act responsibly, the Prime minister should start to act more boldly, and stop relying on other mouth piece. Come out and address the people of the country show your concern and what your wishes are. Work with the people, the people in India are not dumb f**K's that they won't understand. People will work together for a better future, they just need a strong voice to guide them.

 

[acetophenol]

I would blame the media as well as the govt. for this.

Media has gone backwards in several ways. As the article states,our poverty rate has gone down,hunger gone down,literacy is rising,but the media is showing little or no interest in reporting these WITH the importance in which they handle all the rape-corruption-scandle cases.

Our government has failed to setup new targets for the middle class india to achieve. Earlier,for the middle classes,the target was to things like to own a car,have mobile phone,own a house or have a second house etc. Now,majority have achieved them and they are sitting idle or trying desperately to achieve things that are very high for them,resulting in dissapointment.

 

[yyetttt]

I knew it was all fake...

 

[takeiteasy]

I would blame the media as well as the govt. for this.

Media has gone backwards in several ways. As the article states,our poverty rate has gone down,hunger gone down,literacy is rising,but the media is showing little or no interest in reporting these WITH the importance in which they handle all the rape-corruption-scandle cases.

Our government has failed to setup new targets for the middle class india to achieve. Earlier,for the middle classes,the target was to things like to own a car,have mobile phone,own a house or have a second house etc. Now,majority have achieved them and they are sitting idle or trying desperately to achieve things that are very high for them,resulting in dissapointment.

this middle class pheonmena is growing. it may be true for states like Kerala that middle class is stagnating without a real growth option. but, the middle class dream is yet to be satisfied by majority of states.

 

[Obsessed]

UPA - II fucked it up real good ... seriously I had despised Namo for long... but now that he has been cleared by SIT in riot case, I really think we should all vote for NDA provided we get to extract the right amount of promises from them.

 

[yyetttt]

India's economic growth is fake... Just recently the Indian government, due to it's greed for investors, has lowered its middle class status to anyone who earns over "50 cents a a day". Considering that, and how almost 70% of India is poor, India's real well-off middle class is around 100 million, not 200-300 million as other figures state.

 

[dott]

India's economic growth is fake... Just recently the Indian government, due to it's greed for investors, has lowered its middle class status to anyone who earns over "50 cents a a day". Considering that, and how almost 70% of India is poor, India's real well-off middle class is around 100 million, not 200-300 million as other figures state.

jello u posted the same thing in another thread, get a life dude. u dont know anything about india.

 

[Shardul.....the lion]

I am not happy too, I want a bigger house in centre of Pune.