How do you describe India? Rather how would a non-Indian describe India??
The 10th largest economy in world in terms of GDP? Or 3rd largest country by PPP? Or a 5,000 year old ancient civilization? Or the world’s largest democracy? Or the largest English speaking nation in the world? Or the country with 3 rd largest standing army force? Or the country with 2nd largest pool of scientists and engineers? Or a country with abundant resources?
Sounds good! But where is India going with all this? Well if we have such good statistics then the country must not be going down the drain. Recently we saw how the mighty $ took its toll on the fragile Re. and how our economy went into doldrums. From a record high of Rs. 39 per USD in 2007 to a record low of Rs. 68.80 per USD in 2013, the INR has stooped instead of the constant GDP growth.
Now, is India just a country with corrupt good for nothing netas, huge population, unequal distribution of resources and 170th rank for literacy rate? For most of us (the common class) India seems to have no hope, the politicians will keep hogging…the “20%” will control the economy and the “80%” will keep on paying for it!
One the difficulty with India is its diversity. Even after 66 years of freedom Indians have failed to follow the so called concept of “unity in diversity”. India is a merger between many socio-economically diverse organizations which need to get used to a disciplined and uniform management structure and a board of directors (the netajis) who know well the macroeconomics of a country. Only then will India emerge as a developed country and have a stabilized currency.
This blog is a platform that will cover the anything and everything going in and around the Indian economy – a genuine effort to do our bit in educating and encouraging the youth about the macroeconomics of India!
