Lets understand most used parameters all of which reflect not so good picture…
Hard Fact About present Indian Economy. Lecture Should be backed with Fact
not Coverup by Speeches……….
1- India has worst Debt/GDP ratio among all the developing countries. (67.7%)
2-India has worst Austerity measures -5.3 budget (only country among developing countries other than pakistan(which we know is going through a internal war) discounting pakistan India has worst parameter
3- India needs to improve data collection capability for Job aspect.
4- Inflation 6.16 % is worst in all of countries (Excluding countries under war like egypt)
5- GDP growth rate india is now 6th in Asia (behind iraq, malasia, indonesia, philipines, china) and 9th in world. (Which is Shock considering india got so much FDI, reforms, and per capita is almost lowest in Asia).
6- Current Account Deficit is 4th worst in world. and actually double of where it should be (- 4.6) sustainable level where it would not affect Rupee downfall in (2-2.2 %)
Even Country under War have 2% account deficit.
7- Does Corruption is reduced in India? Do people on ground feel like this in India…Then What is ?Use of RTI when people cannot be prosecuted.
8-India is Ranked 61 in World on various Economic parameter.
9- accumulated Trade deficit last 10 yrs is almost 1.5 trillion dollar (This money could have been used to build infrastructure in country) Now Compare this with Any BRIC or developing world Not even Once we had Trade surplus but Each of these countries had trade surplus at least 2-3 times in 10 yrs
Non of developing world has so much deficit as India Has .
Where is comparison? From What should we compare 9th in Asia in Tourism, in world despite iron and coal reserve not even 1 company in top 10 compare china has 35 in top 50. same is in banking, in oil companies, in maritime , port parameters, per capita income of country just 1 dollar more than afgannistan per day basis
People of country Ask What is happening in country is there any war going why parameters are so bad?
Bombay per capita income: 5.47 dollar per day
Afghanistan per capita: 3.28 dollar per day
Is it Very Great performance parameter ? Is there Some war which is going on in India in Cities? Why per capita in not growing at least to level of not war torned countries?
Do people have no right to Ask this Question? What you want to do in future is no one can see that What was done in past ? Why after 60 yrs of peaceful coexistence india is not developing despite having all resources?
1.5 trillion dollar trade deficit see picture below…