Everything is not right!!?? June 22, 2007Posted by nsworld in Business and Economy.
I think the entire theme for the month of June was , money , money and more money everywhere. First it started with entire National Media highlighting the takeover of substantial stake in Deccan Airways by flambuyont businessman Mallya. Then everywhere there was the news of two major public issues, one IPO and another FPO by DLF and ICICI Bank respectively which together runs into some thousand crores of Rupees.This month also saw the hot debate over recently released film `Sivaji` ,the money spent on it and the remuneration paid to Mr. Rajanikanth.
Suddenly I am feeling `Oh am fed up yaar`. So much `money` news around and discussion on hundreds and thousands of crores. (Let me be honest I may take little too longer to figure out exact zeros to be put in these figures)
All these news bytes and regular corporate news which involves buyouts, private equity investments here and there makes at least a particular section of Indian society to believe that everything is great about India and we Indians are happy and rocking.
But is this true????_______ NO !!!!!
Not so representative ,Stock market indicies, GDP figures, and Whole sale Price Index numbers can never tell you the real story of majority of People especially for a country like India which is so vast and heterogeneous.
Still we have millions of people living below `Poverty Line`,millions suffering from malnutrition, millions without proper housing, sanitation, potable water, millions waiting for that elusive job, and still many more millions of farmers waiting for rain god and thinking of there overburdened debt to be repaid.
You need not be an Economist or a Statistician to sense this. Just step out of your metro (or State capital) and enter any semi urban (tier II city) or rural area, you will notice that lopsided development, imbalance. Greatest theory in Economics, `The Trickle down effect` is not at all working for these poor chaps. Why it is not working?? Because they don`t have proper connectivity, and infrastructure to attract big investments to their part of the world . Who will create this condusive atmosphere so that some trickle down happens there also??? Definitely it is the responsiblity of the state.
It is high time that our policy makers should think of Inclusive growth and revisit their Urban centric policies.