I have been covering Indian economy for more than 8 months and most of the time; I can see glamorous news items about Indian economy in the media. Many observers are excited about the continuous growth in Indian economy and success in the outsourcing field.
We often see predictions that India would emerge as the third largest economy within our life time. However, it seems that everything is not so rosy after all. I found an interesting report in Monsters and Critics.com with the title Major shortcomings in India's growth: official. I am quoting from the report here:
* Agriculture, on which 60 percent of India's population was dependant, had grown only three percent.
* Agricultural and industrial growth in the states of Bihar, Madhya Pradesh, Rajasthan and Orissa that account for 50 percent of the country's geographical area had been marginal.
*Industrial growth in the rest of the country was wayward as it was confined to only a few states - and, in many cases, to only some cities.
* Increasing farmers' suicides due to crop failures.
* The benefits of IT had not filtered down to the farm sector.
The bottom line is that Indian economy may be growing fast but most people of the country are out of its benefit. They are silent spectators. I feel that both Indian government and the private sector are now ignoring the ordinary people in India. The ordinary people are getting more and more marginalized gradually and they are finding it increasingly difficult to have a decent life. Needless to say that this is a recipe for social violence.
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