Economic Development

The Indian economy is doing well. That is a blessing as well as a curse. It is a blessing because it helps the country grow, it improves the living conditions when the growth is
evenly distributed, it provides more room for the government to target its expenditure
better, etc. But in the current scenario, it is also a curse. The government is not doing
enough to take the development measures forward. India has come this far only because of these development measures, slowing or halting these measures will really hurt the Indian economy in the long term.

Another worrying factor is that the growth is not evenly distributed, the rich are getting
richer and the poor are staying where they are. This is something which really needs to be dealt with in an appropriate manner. Not by increasing taxes, as is being suggested by many politicians. The better way is to take measures to provide more opportunities to
everyone, especially the underprivileged. This is very important. As the economic divide
grows it will create a lot of social issues; more violence and more crime. Managing it at a later point of time will be very challenging and time consuming. The damage it will cause to the society will be devastating.

It is high time the government took measures to take the development forward and take
measures to provide more opportunities to everyone, especially the poor. India has entered an era of growth; let’s take it forward, Mr. Prime Minister.

(This article was published in The Economic Times issue dated 22 May 2007)