Future Major Economy but Major Issues Still Unsolved

According to World Bank report, India will be a major economy by 2020 and has been increasingly looked at as an engine that will steer global development in future. This is reason adequate to look at the economic prospects of India over the current decade. Each sector of Indian economy will be much different in 2020 as it is now. India will be among one of the five economical powerhouses after 8 years i.e. 2020.

Let’s put aside all this and think about the actual circumstances of our country. GDP of India might be increasing gradually but the condition of some states is really thinkable. There are two India in our country, one is a building economy that competes with the world and the other one is the striving hard to earn food for its people. One India is hosting commonwealth games, spending billions on metros and the other one is hosting millions of families without home and food.

Recently Formula One was organised in Greater Noida, event was a major success and everyone was saying that India is now among the US, France and many other big countries. But if given a thought, is Formula one really significant in our country, is Formula one really need of the time. Billions of rupees were spent to make the race track for formula one racing, a racing which will take place once in five years. How many people in our country actually understand the formula one racing, and people who attended the race event were among the rich people of our country including the politicians and their families, big business honchos and movie stars, Rest of the India was just wondering what this is all about. One just needs to move out from some 15-20 cities of India and see the bitter condition of rest of the country.

Imagine this amount of money being used for rural education and other beneficiary programmes, half of the money would go in ministers pocket and then half money would go into the state officials pocket. That’s how we are able to see such big scams in our country and that’s why there are series of corruption scams. There are numbers of persistent problems in the country like less income, less opportunities, the criminalisation of politics, the political corruption, and several internal terrorist groups. Aren’t these problems enough important to be tackled and solved rather than things like Formula one and all.

Transition stage through which India too is going is very crucial and market regulation, political oversight and the other institutions of governance strictly need to improve and become very effective. Doing so would surely make the path to 2020 easy for India and one day world. Recently International Monetary Fund (IMF) has released data and according to it, India is now the third largest economy in terms of Purchasing Power GDP. Japan is at 4th while United States of American and China are first and second respectively. It’s a very positive and moral boosting fact for India but at the same time, crucial issues should also be not ignored and concrete steps should be taken because Real India is different and needs effective measures.