Saturday, April 18, 2015

What economic changes, if made to India over the course of the coming 25 years can bring it at par with the top 25 richest countries in the world?

There are many questions like these that have been lurking in my mind as well. Thanks for articulating it. In my opinion, more than economic changes, we have to make political and personal changes and invest a lot in financial ethical education. We could see much faster growth if every one of us was ethical in our dealings. 1. A small country like Singapore or Hong Kong (until it was recently handed over to China), which has no natural resources of its own, has been a bigger economy than India in nominal terms. 2. A small country like Japan happens to be in the top 5 economic powers. 3. I can quote several such examples, just to help understand what is differentiating small resource-less countries from India when it comes to managing the economy. Are the large number of poor people suddenly going to become rich and can the benefits that are given to them be suddenly removed? If so, how will they get on with their lives, without skill or education or job opportunities? Will they move from agriculture which is not productive to industry which fetches more per capita gdp? If they moved away from agriculture, who would feed the majority? What would be the cost of importing food from other countries? How long are the benefits programs going to continue? Will people give up their benefits at least for the shorter term? Are we 100% ethical in our dealings in day to day life? Do fellow citizens perceive us normally or as aliens from a different planet if we behave financially ethically? How do our politicians account for their public and private spending and are they really accountable for every rupee of tax payer's money?

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I wanted to be a brahmachari all my life when I was 16. I wanted to become a singer when I was 19. I want to be neither now. I started becoming a computer programmer when I was 22. But I am more of an imperfect human being than anything else, but I am evolving.

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