That's an extremely myopic view!
India wants to expand its technological base be it in terms of defence, medicine, or even space. No knowledge is wasted. India is investing in education and training of its scientists for what may very well be the future.
Besides, India comes out net positive as it is commercializing the concept of satellite launches. In layman's terms, it is serving as a Satellite Taxi. And it is doing so at a fraction of the cost!
By this logic, you must think that the likes of SpaceX etc are stupid to invest in such far fetched endeavours when their money is better spent on other issues, is it?
Do you think that poverty allevation happens in a vaccum? It is a simultaneous process and it cannot be done at the cost of other important achievements and goals. India has not pursued its space program at the cost of its poverty alleviation program.
I'm sorry but you need to rethink your views on this.
@countryman is right when he says that one cannot fall behind in this sector. Space is the next frontier and you would not want Pakistan to be on the sidelines when other countries are making ventures into this next step for mankind.