INDIA


     India is facing dire economic problems. Prior to arrival of Corona Virus, for eight consecutive quarters, India's GDP growth was on a downward spiral. Kovid-19 epidemic has added fuel to the fire. Financial year 2020-21 is likely to be marked by recession and significantly negative GDP growth.

     The current central govt. is not taking any forceful steps. According to most economic experts the path out lies in stimulating demand even at the cost of increasing fiscal deficit. While most developed countries have provided substantial support and stimulus  to their people India has done very little. 
     Political opposition is splintered and it is a shame that it has failed to come up with an effective challenge to the party in power. For a long time since independence and specially at present, economic upliftment of the poor is India's priority #1, 2 and 3. For the poor, food and other basic necessities of life are the priority, nothing else is of any significant value.

     The current divisive religious attitudes and actions of the ruling party are of no help. We can only hope that the ruling party will be wise now to seek expert input from all sections of society in order to turn the economy around.

     The first step is to admit, with all humility, that there is a problem and then to seek cooperation from all parties.







Comments

Post a Comment

Popular posts from this blog

                                                            ATTITUDE           In our life and death  there are very few things we can control. Our mental attitude is one of those things which we can relatively control. Our attitude toward things and  people plays a large role in our being happy or miserable.           Some of our suffering is caused by being bothered about what other people think or  talk about  us. Think: "other people's feelings or opinions do not touch my skin. Why  should   I be bothered? It is OK if some people do not like me. So what?"           We often make ourselves miserable by brooding about regrets and resentments  of the past: Why did my father always put me down? Why did I not get admission to a...
Read more
                                                TO BE GRATEFUL  &  TO BE FORGIVING                Remembering somebody who has enriched our life, with a sense of gratitude, gives a  soothing feeling to our heart. From our parents, our teachers, great writers, to inspiring leaders:  frequently and sincerely expressing our gratefulness to those who have helped us in any way, brings  peace to our mind.                Another thing to do to be happier is to let go of past resentments. To forgive someone who may have offended us in the past is a wise thing to do. Just as carrying a light luggage in travel  makes our journey more comfortable, reducing vengefulness toward  persons who may have caused us  a grief at some point in life, relieves us of a bu...
Read more
ISM      Ism is an ideology held with such fervor by its believers that it leads them to forcefully oppose any system which differs from their own. History is replete with such ideologies and they are prevalent even today. The genocide of Jews that took place in Europe during the middle of twentieth century under Hitler's Nazism (belief in Aryan Supremacy) still makes our heart tremble with disbelief. Under Stalin's communist rule in Soviet Union, millions of innocent people lost their lives. During the campaign of collective farming enforced in 1950s under Mao's communism, hundreds of thousands of people died of starvation or systematic killing in China.      We have witnessed the collapse of communist economic system near the end of twentieth century. We have also seen deep recession that occurred in U.S.A. in 2008, when capitalist market system was allowed to run without any checks.      No one holds monopoly on truth. Mahatma Gandhi's lif...
Read more