IS INDIA AN ECONOMIC POWER?

Once I was invited to a Forum of students at nearby my village. There, they asked my views about
our country’s economic power. The young eyes looked at me with a great hope that I may unveil
the mystery of our economic power.

Though I am not the Adam Smith-the Father of Economics, I tried to explain a part of his theory i.
e. “Decrease is compensated by corresponding increase in some other sphere” in a way to suit my
view on India’s economic power –

“Decrease in the income of the general public is compensated by a corresponding increase in the
income of the rich”- In other way, the power of our economy rests not with the majority
populace, but with a few rich and with the most corrupted and unscrupulous elements.  Destiny
of our country’s economy is in their hands.

I asked the audience to name a village or a town or a city where they can find the Public toilets (if
available) are kept cleaned, where all the roads laid are worthy for public conveyance, and where
all the basic amenities and efficient public utility services are made easily available. No one could
answer.

Further, I asked them to name a constituency that got rid of corrupt politicians, bureaucracy and
businessmen.  For this also they maintained silence.

I told them that GDP (Gross Domestic Product) is a yard stick to measure a country’s economic
growth. But, if that yard stick fails to measure the inclusive growth of common men, then, that
country can no longer be called as an Economic Power.

“When we can not assure the fundamental needs of our citizens and remove the wide ranging
disparities in our society, how can we call our country as an economic power”?

At last, I could hear the reverberation of my view from their nodding heads.

Compiled by:                    J.EDMOND V.RAYEN, VIRAPANDIAN PATNAM