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  • Category: Miscellaneous

    India 6th wealthiest country with total wealth of $8,230 billion

    Afraasia Bank, Mauritius released the latest report on the wealth index of various countries and in that India secured sixth place. America is in the first place. In the next two positions, China and Japan are there. 4th and 5th positions are occupied by Britan and Germany. The total wealth of our country is estimated at around $8,230 billion. The good Education system, IT, BPO, business, Health services and news agencies are strong in India and they are helping India in becoming rich, the report says. It is very good to hear that in the coming ten years India may go to the 4th position in the list.
    It is very good to note this. But the problem in the country is that the rich are becoming very rich and poor are becoming poorer. How to control this is the million dollar question. I like to know the comments of the other friends on this subject.
  • #636940
    There is no doubt that India is developing wealth wise and the estimate of $8230 billion may be true as per the Afraasia Bank statement, but what is the use of such huge wealth when it is concentrated with few Individuals who virtually control the economy of the country. On the government part they may get the tax and other benefits. But what is the use for the common man from these figures. He is still struggling for two square meals daily and has to work and toil till the end of his life with meager salary of no savings. How the banks are arriving at these figures when they are not checking the reality at all.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #636950
    Even the most optimistic estimates on distribution on wealth in India, do not give more than ten rupees of out each one hundred spent on any scheme, reaching the poor. Even the late Rajiv Gandhi had the guts to admit this truth.

    So, we have the poor, who do not know English, do not have any education, or training on any particular skill, living on the poverty line or just about it. This problem is more acute in the Hindi areas, where the some politicians only want Hindi, and totally neglect English. Mulayam Singh Yadav, for example, sought to do away totally with English, when he was in power. There was a huge protest and he had to change track. In the South of India, the standard of English is very good in so many places and, hence the standard of overall Higher Education is that much better.

    We have other problems too. The poor do not get their quantity of rations as per their eligibility. They are robbed so systematically, as the so-called "market forces" , where the cost of single commodity is beyond their reach, makes life miserable for them. For example, they cannot afford to even buy a good brand of branded pickle from the open market. They can never travel by AC class and can never even buy a costly shirt.

    This is exactly why, when all other things are equal to all, they should be given a huge amount of rations at hugely subsidized prices, so that the equality in terms of nutrition or at least basic survival is available to them. When the population increases and the jobs only increase in the service sector, these electricians, plumbers, electricians, carpenters, security guards, servant maids and a whole lot of educated people who draw salaries as less as 8000/- in 2018 prices, in the cities, suffer so much in terms of being able to just survive as human beings. For them, every single day is a huge struggle that they are unsure of what they can do the very next minute.

    So, the poor always remain poor and the rich, who happen to control the Government, the banks, the private sector, the trading sector and the huge farms as far as agriculture is concerned, have a whale of a time. Worse, even the small loans made available to them are those that come at huge costs , in terms of interest costs. The politicians swindle money at every single opportunity, and go all out of the way to keep their momentum going.

    Unless we bridge the gaps by strengthening investment in social security schemes, public health in terms of good Government hospitals, very good Government schools and so on. Some social contributions from the huge IT companies, for example, in Tamil Nadu, have made public hospitals that much cleaner, better in terms of infrastructure and so on.

    Why not run the Government schools as public-private partnerships, where the Corporate Social Responsibility Expenses go all out to strengthen such schools?

    We need to seek fresh answers to familiar problems. There should be a huge amount of debate on such issues, so that the gap between the rich and poor becomes that much smaller in the years to come.

    [Response edited. Do not make too personal comments about people. Avoid needlessly lengthy responses]

  • #637091
    Coming with in the 10th wealthiest nations may look good for the rest of the world. But for us Indians, this is meaningless. Somewhere along the line we have become like capitalists and lost a good amount of humanity.

    To some like me, this would be an embarrassment because the life of the common man has no relation to wealth of our country. We still have to struggle to have basic health care, women and children dread being abused, kith and kin of the dead have to pay bribes to get the body or drag them to lack of transport, dalits and the underprivileged killed senselessly. Last, no the least, we need the SC to work in the dead of the night to say which party can form a state Government.

    So, I think instead of being proud, we need to introspect but that would be a separate thread.

  • #637101
    So the main problem is to go for the options which can manage the uneven distribution of wealth in our country. Possibly, if we able to find the causes behind this fact of uneven wealth distributions then on to the other side we got the solutions too.

    So what could be the reasons & how this could be settled?

    In throughout our country, this can easily be observed that few of the regions are well developed, while the many parts we haven't been reached out to. This is the result of the "Regional Imbalances In Development". And because of this the regions still lacking the basic facilities like the quality education & proper food. This directly impacting their personal growth. As a result of which they work as a daily wage workers or the contract labors, as unable to find out the full employment possibilities.

    The another main reasons can be referred to as "political". This remains a sad part that even after so many years of our independence the remote locations are still not having the infrastructure which will enable the investors to invest on those places.

    But now the time is changing & as per government record the electricity is now in access to all the villages in India & that the roads are being constructed. Along with this the tax regime has been simplified so as to get relieved from the complexity of environment here which wasn't the case earlier. This remained the first time ever fact that in so less time period the bank accounts have been opened for the poor during demonetization. There are other preparations are being carried on behalf of the governments to attract the investments & at the same time keeping mandatory the electronic transactions so as to end up the corruption level.


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