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22nd October 2005, 02:25 AM
#1
Junior Member
Junior Hubber
Today, is India a rich country or a poor country ?
Rich countries of Asia such as Japan, Korea and Singapore are developped and wealthy, China is the next one. But how about India ? 65% of people can read whereas some developped countries rate literacy are 80-90%. Some specialists are sceptic about its future. If India would be as rich as Japan, we were already dead .
What is your point of view ?
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22nd October 2005 02:25 AM
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22nd October 2005, 04:45 AM
#2
Senior Member
Regular Hubber
Evey Civilization has its time of glory followed by doom, it is a cycle. India was once the wealthiest under the sun. Rich not just in materialism, but also in Religion and Spiritualism. The sucess of a civilization depends on it providing a system where individual's actions act in synergy with the system. A good example is the current US system where a mediocre person can create wonders because the system maximizes the fruit of his efforts. But this is double edged sword, a great system may inturn breed mediocrity because people do not have to work hard for success. At its peak the members of a society bask in their glory and work less and are less creative. This may lead to the demise of the civilization.
India I belive is in an upturn in that cycle, we have had our bottom. As of today we are neither rich nor poor, but going forward we would definetly be rich. The system in India is machuring. Our infrastructure and human intellectual capital is tremendously advancing. It is only good news going forward !
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24th October 2005, 07:50 PM
#3
Junior Member
Junior Hubber
I Think the basic problem in India is corruption, over-population, lack of literacy and the point you have mentionned is that intellectual and indian scientists who have studied in India have to live and work abroad (brain drain).
If India becomes a real developped country, there would be less arranged marriages, less bollywood movies, less cricket match and a lost of faith.
It's true that Manmohan Singh haven't commit any corruption like Vajpayee, but I'm sorry to say that he is not the man of the situation in India.
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24th October 2005, 09:45 PM
#4
Senior Member
Senior Hubber
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24th October 2005, 09:54 PM
#5
Poor is my answer. However it is relative.
The answer is relative to who the question is asked to. If the question is asked to an IT or IT related worker, they might say India is rich or atleast they are rich.
Most part of india is yet to improve. Education is the key and this has to spread in a rapid phase.
Politics? I don't know how much it can play a role in a common man's economy if he cares less for it. According to me Politics is a waste of time unless it is voting season.
-Venki
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24th October 2005, 10:03 PM
#6
Senior Member
Senior Hubber
Why would an IT man say India is rich, when most to 'em end up working abroad 'cos India couldn't pay 'em good!
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25th October 2005, 10:11 AM
#7
Senior Member
Seasoned Hubber
India is a poor country because India has the largest number of people under proverty line (followed by china).
Though India has the 10th biggest GDP the population is equally big.
Total GDP 2004
(millions of
Ranking Economy US dollars)
1 United States 11,667,515
2 Japan 4,623,398
3 Germany 2,714,418
4 United Kingdom 2,140,898
5 France 2,002,582 a
6 Italy 1,672,302
7 China 1,649,329
8 Spain 991,442
9 Canada 979,764
10 India 691,876
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25th October 2005, 10:14 AM
#8
Senior Member
Seasoned Hubber
Originally Posted by
Idiappam
Why would an IT man say India is rich, when most to 'em end up working abroad 'cos India couldn't pay 'em good!
IT employees are well paid in India. Comparing Income/Expense ratio IT Employee is having much better salary in India. Then why do IT guys go outside because there they dont spend much (by controling needs) and thus when converted to Indian ruppees its Jackpot.
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25th October 2005, 02:56 PM
#9
Junior Member
Junior Hubber
India's GDP per capita (per one people) is ranked 154th in the world according to the source : http://www.cia.gov/cia/publications/.../2004rank.html in 2004. The reality is a corrupted minister, having a big swimming pool and wearing a golden chain around his neck, is richer as 1000 times as poor people income, that is why the global GDP of India is ranked 10th in the world, and it is not a proof that India is a rich country.
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26th October 2005, 06:55 AM
#10
Senior Member
Seasoned Hubber
Even the 154th place in Per capita GDP is doesnot show the reality. It only divides the Total GDP with the population. Which means with the number of millionaires and billionaires increasing in India Per capita GDP is going to increase. Also a good part of the countries GDP is with MNC's (which means not actually with Indians).
So even with a GDP growth of 8.1% the number of people under proverty line MAY BE increasing. So while GDP is a very important metric we need to give equal importance to the percentage under proverty line.
By the way can anybody tell me the process for determining the Proverty line ?
How about the index of Gross National Happiness (GNH) which requires an evaluation of the effect of economic activity to welfare. Its implemented in Butan and incresingly interesting the western thinkers.
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