Thursday, December 07, 2006

Economic Growth in India

Last week the CSO announced that the economic growth in India has touched 9.5%. That is very good news.. We are one in the top few countries which are achieving this kind of growth rate. This means we have more money to spend and our standard of living is improving leaps and bounds.

I guess it is true to some extent based on the amount of vehicles being added to the road, the number of apartment complexes coming up, the mall culture hotting up, consumer durable sales on the rise etc. Every one seems to want to have a refrigerator, television so on and so forth.

But on closer examination, is it really true. There are so many people whom I see still find it difficult to make their ends meet even the basic food and shelter. I can see so many of them in the cities themselves, god help the rural areas. Is this whole economic growth a farce, are they just numbers and statistics, being skewed by the growth of a small population and retrograde growth of a whole bunch of others. May be.. I am not sure. I am not an economist to be able to get to the details of these, but something does not seem right.

Today I saw an article on news media; "50% of the worlds riches is owned by 2% of the population" and "85% of the worlds riches is owned by 10% of the population". These numbers are really shocking. This shows the disparity among us. Should there be a better way of the wealth being spread among the population? I know I know where this is leading too.. but I am not talking about communism, but then this too is not good.

1 comment:

Venu said...

yeno idu - mooru blogs?! stick to one and label your posts. neenu racing raja antha gottu, adakke bere blog yeke?

good to see you putting stuff here.. I will subscribe..