- Is India too big to fall?
India: too big to fall?
Since 1991 when liberalization and globalization drama was started with much noise and rhetoric Indians have acquired a syndrome of Greatness and being a super power (or super beggers/).
The fallacy is that Indians take sheer size of population and consequent higher economics figures as a sign of being super power. But if we view the same figures per capita we drop to an abysmally low level in list of countries in the world. India is also one of the few countries with highest numbers of unemployed, highest number of underemployed, highest number of poor, one of the lowest per capita income in nominal terms, highest level of corruption, highest mal nutrition in population, a sick and shameless inefficient and corrupt judiciary, lowest per capita fertile land and fraudulent democracy which is limited only to giving votes every five years.Not only that India ranks lower even than pakistan in Human development index and corruption ranking.No one obesys RTI Act as no one actually want it.
Not learning from mistakes of USA and other overactive economies landing themselves into trouble, MM Singh government run by western capital stooges ,brainless and corrupt mafia politicians and supported by a corrupt boneless media is blindly aping american systems merely to benefit corrupt businessmen, babus ,politicians and western MNCs for facilitating loot and plunder of this poor country.
'Fault line' an acclaimed book recently written by Raghuram Rajan of a university in USA brings out the bad policies and practices in USA and other major countries like China and Germany. How the banking or financial system releases brainless products in greed and how money is generated in thin air by these banks to create bubbles and how these sick banks are supported by federal treasuries to perpetuate their jaundice in banking system are well revealed by the economist. On other side how countries like China have neglected internal development and relied on huge exports to financial deficit countries like USA keeping their currency low and collecting huge amount of syrplus dollars is explained by the economist.
Even china has realised its follies and have started corrcting but MM DSingh Government blinded by directives from Foreign masters and foolish concepts of growth refuse to moderate.
But who is learning from these observations?
Are our fraudulent economists and dummy politicians like MM Singh and his cabinet colleagues aware of this all? Are they at all in charge? Or is India being run by a small mafia focused on loot and weakening the very social, economic and political fabric of India?
Too high growth rate is neither feasible nor sustainable for long period. It may well look good for 3-4 years. The repeated emphasis of MM Singh on double digit growth is foolish, unrealostic and idiotic stand and shows that he hardly understands economics and social dimensions of growth. India in isolation cannot grow at double digit figures and we are repeatedly failing to maintain this level. The currant IIP is below 5% and agriculture is already stuck up below 2%. But so much of noise is being made to show development specially by raising several times land prices in India that has completely distorted economic picture of the country and is now beyond repair.
India with very less fertile and usable land of 1500 sq yards per person is facing future food security threat in coming years. Just imagine after 10 years what is going to happen with less than 1000 sq yards agriculture land per Person and additional population of 15 crores in the country. It will be impossible to produce even basic food items. In Delhi railways have shamelessly sold land @ 100,000 INR per sq yard to a developer company. This is highest price in the world and will have further spiralling effect on real estate prices already many times and out of reach of common man.Real estate and fuel prices have universal imoavt of infaltion in country.No where in any country inflation rate is so high at 20-25% per year (excpeting for badly managed few countries like venezuela). MM Singh government calls it growth and development as if China is managed by fools.
The capitalist stooge government has agreed to open up multi brand foreign retail chains in India under US pressure which will not only make goods costly but result in mass scale unemployment rising in coming years. No one in USA appreciates Wal-Mart.
Fancy slogans have been floated through corrupt media about great economist background of Singh, India shining and India being almost a super power under plan of USA mafia. India is more worried to generate jobs in USA than in India.Economcs as a subject is of theoretical use and is main casue for socail problems in countries and failed economis. Economics required perfect and ideal conitions of models to exist, which is not just possible.
Even a fool knows that with rising production and automation and less government controls prices should fall in economy.But reverse has happened in India. The only exception is electronics which is genuinely following principles of economics due to rapid changes in technology.
See how tata has fooled the coutnry by lauching a fraudulent small car at self whimsically fixed Rs 1 lac price level for cheap publicity which tata could never achieve despite so many concenssions and popular support and government support. This also shows that other large global manufacturers like GM, Toyoto, vox wagen and others as a bunch of idiots who need to learn from tata for making cars.
The Indian rupee is also being kept low like in China by various overt and covert policies and acts by Singh government.Indian rupee is not worth even rs 55 to a dollar. Main reason may be to make huge imports cheaper and reduce current account Forex deficit, but it is same mistake USA has been doing and is now in trouble. It is like helping foreign experters to make money from India, Financial markets have been recklessly opened by Singh Government to facilitate loot in India as returns are much lower in developed countries having stagnant economies and very low interest rates there. But Indians are happy that dollars are coming not realizing that proportional dollars are also going out actually as much higher earnings on that inflow. It is not free of cost. The only help we are getting is a temporary relief in dollar deficit for imports due to rising forex reserves.
In due course of time India will collapse under its own weight, real estate bubble being deliberately created by this rampantly corrupt and shameless government run by a mafia and mismanagement of country socially, politically and economically.
We hardly understand the tremendous cost Indian citizens pay for NRIs going out to USA and other places for their own dreams and benefits. They pay them higher salaries there and know about it and these countries in turn charge many times more in goods and services exported to India. These NRIs actually create wealth for Host country who then export and charge huge margins from us.We are so much happy that NRIs earn for the country. Do they? The Indian businessmen are now donating millions of dollars to American universities instead of helping schools and colleges in India and that includes guys like Ratan Tata. It is a fact that Indians being low wage earners and due to unemployement make beeline to work as slaves in foreign countries and our exporters being small and third rate producers without any innovation and R D and technology base export at very low margins and even at negative margins sometimes, and that too in buyer decided prices in US currency rates. While developed countries export to us in dollars at their own determined prices and charge 20 to 1000% margins in various categories. The amount of money being made by MNCs in India, FIIs and insurance and other companies is good percentage of Indian GDP which is now having higher contribution by foreign firms in India. Even the GDP figures are higher mainly due to inflation based economy and not real growth. While salaries of common man have increased by 60% on average in 8 years, the purchasing power of rupee has gone down by 300%.
The bitter truth is that those who have retired before 2004 when this MM Singh took over are now in very bad condition as they had lower salaries and savings and majority of them having no pensions or aids from state are facing problems of survival thanks to 300% consumer price rise since MM Singh took over. Even FD rates have been almost halved and the interest income is not sufficient to buy food for these retired persons.
Where is food security and safety net in India while MM Singh government blindly apes American capitalist model of free for all and loot but not the legal systems and social security and welfare systems of USA? In few years India will face severe social unrest and basic survival problems as food will diminish and these superannuated people will face extinction due to no aid. Fact remains that 90 % of retired and old age people in India have no post retirement help and benefits and neither any aid from State. But prices are rising every day since MM Singh took over.
India is slowly moving towards collapse not only in economy but socially and politically also as almost 12 states in India are reeling under serparatist campaingns based on religion and general dissatifaction due to bad economic conditions and poor law and order and judicial system.
No wonder that in a recent Chinese website article appeared suggesting breaking up india with help of Pakistan, Bangladesh and Bhutan in 18-20 smaller states or for balkanisation of India like in EU. India is not only internally and externally weak but is considered as a blockade for growth of south east Asea being a way ward caste ridden Hindu state. Whereas fact remains that Hindus are actually having no say in India are fradulent secularists and are weakened, internally fighting, corrupt and weak community busy in attacking itself.
If we critically look at contents of such articles and statements of people like Arundhiti Roy, I dont think they are very much away from reality. This we can appreciate only if we keep aside our fraudulent patriotism and emotions limited to tri color and singing vande matram. First we should ask are we really patriotic? Do we have any pride and sense of being Indian and do we respect Indian constitution and great dharma and ethics of ancient civilisation.Merely shouting that India is a Union, it is unbreakable,India is great and we are proud indians is just fooling ourselves and others. It is like living in state of self denial.It can't last for ever.
Prof R K Gupta
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