A Must Listen BBC Audio Program - What are the reasons India was a shining star in the BRICS and now it is being questioned whether it is really a part of BRICS?
This program also has lessons for lovers of the current democratic style of government.
http://www.bbc.co.uk/programmes/p01568lr
Points from this 28 minutes audio - for those who donot think they should listen to the audio.
The Indian economy is stalling. It was one of the fastest growing economies in the world. Now growth has declined dramatically. China has outpaced India and Indias democracy is often blamed for slowing decisions and actions. Peter Day investigates what has caused the slowdown in the worlds largest democracy. Are the problems deeply rooted, or can they be quickly fixed?
Below are some of the comments from prominent people interviewed in the program.
A/ Professor Raguram Rajan - Chied Economic Advisor:
1/ We were growing at such a pace that we outran our institutions.
2/ We can grow like China provided we dont have the democracy constraints
B/ Kacharan Das - CEO, Procter and Gamble
1/ Environment Ministry does not agree with anything - Bureaucracy is at its heights. Manmohan Singh is just a technical person, he is not a leader who has the courage to jump in when needed.
C/ Pravin Chakroborty - Leader of some big organization - dont remember the name of the company
1/ The real issue is India itself. The problem is India.
2/ Democracy has let down India. In a democracy mega projects run into protests(here I would link it to the fate of Kalabagh Dam because of the very democracy that we have in Pakistan)
3/ India cannot be centrally controlled - There is no one language, no one religion, no one food item - We are one nation only because of Cricket and thats it.
4/ Whatever growth India has achieved, why has it not been able to lift 3/4th of its population above poverty? At any point in time the poverty ranges from 600 to 800 million people.
D/ Shaima Chaoudry from Tehelka Magazine
1/ Maoists insurgency is the surface of it. Beneath it is the many many layer of severly dispossessed people who are cooking under pressure and can blast of any time. This is not sustainable.
E/ R. Ranakuna, Economist at Tata Institute
1/ Poverty in India is linked to its love of the Caste System. India cannot erode poverty without doing away with the Caste System.Also Muslims in India are largely outside the growth benefits.
2/ 46% of the children in India are malnourished? Does that get reported in the Media. Because media is controlled by Corporate Houses who decide what to report based on the Image they want to portray.
3/ There is enormous poverty in India which is declining very slowly and there is enormous Injustice in India whic is rising rapidly. Hence at any point in time the dis balance is rising.
F/ Anand Mahindra, Chairman Mahindra and Mahindra
1/ India does not have the luxury to grow at the rates, developed economies grow. It has to grove in excess of 7% to come out of the vicious circle of poverty.
2/ India grew at a very fast pace but did not have proper roads and railway and other infrastructure to support it beyond a certain level. (This is what happenned to Pakistan also in the Musharraf Era - Not a single MW of power added during his time.)
3/ Is India Outside BRICS? It can come back to BRICS if it learns to Plan.
This program also has lessons for lovers of the current democratic style of government.
http://www.bbc.co.uk/programmes/p01568lr
Points from this 28 minutes audio - for those who donot think they should listen to the audio.
The Indian economy is stalling. It was one of the fastest growing economies in the world. Now growth has declined dramatically. China has outpaced India and Indias democracy is often blamed for slowing decisions and actions. Peter Day investigates what has caused the slowdown in the worlds largest democracy. Are the problems deeply rooted, or can they be quickly fixed?
Below are some of the comments from prominent people interviewed in the program.
A/ Professor Raguram Rajan - Chied Economic Advisor:
1/ We were growing at such a pace that we outran our institutions.
2/ We can grow like China provided we dont have the democracy constraints
B/ Kacharan Das - CEO, Procter and Gamble
1/ Environment Ministry does not agree with anything - Bureaucracy is at its heights. Manmohan Singh is just a technical person, he is not a leader who has the courage to jump in when needed.
C/ Pravin Chakroborty - Leader of some big organization - dont remember the name of the company
1/ The real issue is India itself. The problem is India.
2/ Democracy has let down India. In a democracy mega projects run into protests(here I would link it to the fate of Kalabagh Dam because of the very democracy that we have in Pakistan)
3/ India cannot be centrally controlled - There is no one language, no one religion, no one food item - We are one nation only because of Cricket and thats it.
4/ Whatever growth India has achieved, why has it not been able to lift 3/4th of its population above poverty? At any point in time the poverty ranges from 600 to 800 million people.
D/ Shaima Chaoudry from Tehelka Magazine
1/ Maoists insurgency is the surface of it. Beneath it is the many many layer of severly dispossessed people who are cooking under pressure and can blast of any time. This is not sustainable.
E/ R. Ranakuna, Economist at Tata Institute
1/ Poverty in India is linked to its love of the Caste System. India cannot erode poverty without doing away with the Caste System.Also Muslims in India are largely outside the growth benefits.
2/ 46% of the children in India are malnourished? Does that get reported in the Media. Because media is controlled by Corporate Houses who decide what to report based on the Image they want to portray.
3/ There is enormous poverty in India which is declining very slowly and there is enormous Injustice in India whic is rising rapidly. Hence at any point in time the dis balance is rising.
F/ Anand Mahindra, Chairman Mahindra and Mahindra
1/ India does not have the luxury to grow at the rates, developed economies grow. It has to grove in excess of 7% to come out of the vicious circle of poverty.
2/ India grew at a very fast pace but did not have proper roads and railway and other infrastructure to support it beyond a certain level. (This is what happenned to Pakistan also in the Musharraf Era - Not a single MW of power added during his time.)
3/ Is India Outside BRICS? It can come back to BRICS if it learns to Plan.