Showing posts with label ECONOMY. Show all posts
Showing posts with label ECONOMY. Show all posts

Monday, May 25, 2020

INDIA in 2050

                                       
                            
                                                   India is the Country of diversity. It is the beauty if diversity that makes India a unique country in every aspect were it technical, scientific, social, or environmental. Every Indian is worth of accomplishing every task that can flourishes the economy of the nation. Even history has proved that Indians are worth gems for world in the form of the Swami Vivekananda, Mahatma Gandhi, Mother Teresa, Satuyajit Ray, Sam Pitroda and many to specify. It is proved that we Indians has more innovativeness than many other public in the world. Then the question stuck in our mind that according to current situation how India will look in 2050? What will be its socioeconomic status, science and technological development, living standard and other related fields?
                                               Though having busy roads, tight schedule, population density, health hazards etc., we Indians are still proud of our culture. in spite of serving MNC’s with cheap labour, still being the biggest reason of success of our culture that focus on Eco-friendliness, our actions that we though indirectly indulge in serving humanity.
                                               India has experienced extraordinary population growth: between 2001 and 2011 India added 181 million people to the world, slightly less than the entire population of Brazil. But 76 per cent of India’s population lives on less than US$2 per day (at purchasing power parity rates). India ranks at the bottom of the pyramid in per capita-level consumption indicators not only in energy or electricity but in almost all other relevant per capita-level consumption indicators, despite high rates of growth in the last decade.
                                               Much of India’s population increase has occurred among the poorest socioeconomic percentile. Relatively socioeconomically advanced Indian states had a fertility rate of less than 2.1 in 2009 — less than the level needed to maintain a stable population following infant mortality standards in developed nations. But in poorer states like Bihar, fertility rates were nearer to 4.0.
                                            Does this growth mean India can rely on the ‘demographic dividend’ to spur development? This phenomenon, which refers to the period in which a large proportion of a country’s population is of working age, is said to have accounted for between one-fourth and two-fifths of East Asia’s ‘economic miracle’ as observed late last century.
                                             But India is not East Asia. Its population density is almost three times the average in East Asia and more than eight times the world average of 45 people per square kilometer. If India has anywhere near 1.69 billion people in 2050, it will have more than 500 people per square kilometer. Besides, in terms of infrastructure development India currently is nowhere near where East Asian nations were before their boom. In terms of soft to hard infrastructure, spanning education, healthcare, roads, electricity, housing, employment growth and more, India is visibly strained.
                                            For example, India has an installed energy capacity of little more than 200 gigawatts; China has more than 1000 gigawatts and aims to generate 600 gigawatts of clean electricity by 2020. To make matters worse, many of the newly installed power stations in India face an acute shortage of coal, and future supply is not guaranteed. China mines close to four billion tons of coal per year, which has a negative effect on both local and global air quality. At some stage, it is probably inevitable that India will need much greater capacity than its present rate of mining 600 million tons of coal per year, which is also causing local and global pollution levels to rise — parts of India face air quality problems similar to those in China. On oil, India imports close to 80 per cent of its crude oil requirements, while it also runs an unsustainable current account deficit of more than 5 per cent of its GDP, and reserves for new energy sources like shale gas do not look promising either.
                                           India’s food supply is in an even worse position. As a member of India’s Planning Commission put it, ‘we have a problem and it can be starkly put in the following way: around 2004–2005, our per capita food grains production was back to the 1970s level’. In 2005–07, the average Indian consumed only 2,300 calories per day — below the defined poverty line in rural areas of 2,400 calories a day. The trend in recent years is for Indians to eat even less.
                                          So, for India, treating lightly Malthusian predictions about food supply until 2050 or beyond may not be prudent. Worldwide food prices have been on the rise to unforeseen levels, and India too has been suffering from high food inflation.
                                           Even if India manages to feed its burgeoning population, its growth may not be ecologically sustainable. The global demand for water in 2050 is projected to be more than 50 per cent of what it was in 2000, and demand for food will double. On average, a thousand tons of water is required to produce one ton of food grains. It’s not surprising, then, that international disputes about water have increasingly been replicated among states in India, where the Supreme Court is frequently asked to intervene.
                                           The probable answer is that policy makers have failed miserably on all measurable counts. If one compares India to China this becomes clear. While China’s one-child policy has been criticized as against human dignity and rights — and there is no denying that such measures should be avoided as far as possible — the history of human civilization teaches us that extreme situations call for extreme actions. There will be ample time for multiple schools to have their postmortems on the success and failure of the one-child policy, but it has helped China to control its population by a possible 400 million people.
                                           There are still millions of people still surviving in India on income of less than one dollar a day. India will never be consider developed country unless and until the poverty, hunger and pain of the poor on the streets and those living in the slums is curbed.
According to the wealth report 2012 by Knight Frunk and Citi private bank, India will emerge as the economic superpower in 2050, beating U.S. and china with a GDP of $85.97 trillion and India will witness an economic growth of 8% by 2050.
                                          There must be upward mobility in economic terms and recognition is through performance and results, and not through other metrics, which suit special interest groups. Indian high-tech companies should create their own top position in the world by identifying world and fulfilling those by leveraging technologies. They should identify what services need to be developed and delivered to meet the need of our underdeveloped population to improve health-care, education and new economic models to benefit backward sections of the society. The high-tech industry is going through disruptive changes because of transition to cloud- delivered services.
                                         Thus an Optimistic view of emerging India as a fully developed not only as a superpower nation but also as a wholesome development in the fields of health, education, business, urban and special emphasis on rural development with a poverty free, slum free, high employment opportunity are the thoughts and dreams that every Indian might be seeing. with the efforts of all of us we will surely see our proud INDIA IN 2050 as a prosperous, happy and overall developed nation.

Wednesday, February 5, 2014

Globalization Reacts

In simple terms globalization Is the process of growing interconnectedness between various parts of the world. It is a process through which diverse world is unified into a single society. Globalization touches almost all spheres of human life; social, economic, political, cultural, environmental.

Economic impact:
Positive impact:

             a.       Trade with other countries tremendously increased. Exports and imports boomed due to opening up of trade markets.
             b.      Liberalization of Indian markets for foreign players. This has increased the inflow of men, money, material, labor, technology etc from foreign countries to India.
             c.       Markets expanded. Many of the Indian industries have global markets and India serves as a market for many foreign companies.
             d.      Globalization is responsible for the growth of many industries in India and especially software industry.
             e.       It has given nations greater access to global markets, technology, financial resources and quality services and skilled human resources.
             f.        Improvement in and greater access to quality goods and services and an exponential increase in the volume of trade.
             g.      Access to global capital resources via the stock market and international debt depending on the economic potential of nations and their markets.
             h.      Access to technologies depending on the nation’s responsiveness to respect to protection of IPR and the responsible usage of technologies.
             i.         Access to the world markets to the skilled human resources from nations with inherent intellectual and technical capabilities.
             j.        Increase in exports of goods and services in which nations have their respective competencies.
             k.      Increased the purchasing capability of the nation through the creation of a sizeable middle class which is hungry for quality goods and services while there is a large poor class whose time is yet to come.
             l.        Shifting of labor force from agricultural sector to industrial sector and thus reducing disguised employment in agricultural sector.
            m.    High quality and low cost products flooded Indian markets increasing consumers’ choices.
             n.      Just few years back in India landline phone was a prestige symbol but now mobiles can be seen in the hands of many people.
            o.      In agricultural sector new varieties of farm equipment, new agricultural practices, applications of biotechnology like drought resistant, pest resistant varieties etc are indirectly due to globalization.
             p.      Indian companies adopting international standards in the areas of accounting, inventory management, Human resource, marketing, customer relationship management practices etc.
             q.      Increase in flow of investments from developed countries to developing countries, which can be used for economic reconstruction.
             r.        India gained highly from the LPG model as its GDP increased to 9.7% in 2007-2008. (It is now in low level but hoping it will make some upside graph)
             s.       The free flow of Information both general and commercial.
Negative impact:
             a.       Rich poor divide increased due to unequal distribution of wealth.
             b.      Ethical responsibility of business diminished.
             c.       Tribes are unable to integrate in the era of globalization and they are facing many problems due to industrial expansion like land alienation, loss of livelihood, displacement etc.
             d.      High growth but problem of unemployment.
             e.       Price hike and inflation of every daily usable commodities.
             f.       Native traditional industries in India got badly affected as they are unable to compete with foreign players.
             g.      Government driven public sector units are in sale due to increased privatization.
             h.      Growth in different sectors became uneven.
             i.        More inflow of money has aggravated the problem of corruption.


Cultural impact:

·         Language: (India is only place in world having more than 1000 local + regional languages, but from past 50 years most of them are completely gone)
Positive impact:
a.       Many people in India became bilingual or multilingual than before.
b.      Prominence of English as a language increased and importance of many regional languages decreased.
Negative impact:
a.       Some languages got extinct.
b.      Traditional knowledge that is expressed in the languages that are becoming extinct is getting unutilized. Many patents are filed internationally which is already mentioned in our traditional literature.

·         Music, Dance, Entertainment:
Positive impact:
a.       Many foreign musical instruments flooded Indian market.
b.      Foreign movies became widely available in Indian markets.
c.       Indian classical music has gained worldwide recognition
d.      Fusing western music with Indian traditional music is encouraged among musicians.
e.      Many foreigners are learning Indian dance forms like Bharatanatyam while many Indians are getting attracted to foreign dance forms like salsa, hip-hop etc.
Negative impact:
a.       The penetration of global pop music has marginalized the traditional Indian music.
b.      There is an increase in tendency of playing western songs and pop music during marriage functions, birthday celebrations, engagements etc.
c.       Folk and tribal music is nearly extinct. Government is taking steps to preserve it.
d.      One can see in India that inhibitions have been diluted because of the advent of media and the medium of entertainment. This has also naturally had some affect on the old cultural values with the focus now being on consumerism and success.

·         Food and Dress:
Positive impact:
a.       Many dresses of foreign brands are available in Indian local markets. Dressing style, costumes, etc of Indians changed due to globalization
b.      Male and female dresses distinction is getting blurred.
c.       Food and dress habits are internationalized
d.      Pizzas, burgers, Chinese foods, and other western foods have become quite popular.
e.       Fusion of Indo western clothing is the latest trend. Ex: wearing western jeans and Indian pajama or kurtha.
f.       A distinct change in life-styles with rapid adaptation to worldwide trends
Negative impact:
a.       Our traditional food and dress habits are getting changed generation after generation
b.      Due to intake of western and fast foods there is a threat of non communicable diseases like obesity, hyper tension, cardio vascular diseases etc.

Religion:
Positive impact:
a.        India is birth place of different religions like Hinduism, Buddhism, Jainism, Sikhism etc. Due to globalization new religions like Christianity entered India and have multi dimensional impact on the culture of India.
Negative impact:
a.       Conversions to Christianity increased by the financial and institutional support of western players.

·         Festivals:
Positive impact:
a.       Western festivals like Valentine ’s Day, friendship day etc are spreading across India.
Negative impact:
a.       Importance of our traditional native festivals getting decreased.
b.      Sacred component in our religious festivals is getting decreased and there is increase of secular component in the form of social gatherings during festivals.

·         There is increase in interaction between people of different countries leading to admixture of cultures.
·         Nations have built greater awareness of themselves and the other countries and cultures of the world. India is not an exception

Social impact:
·          Marriage:
Positive impact:
a.       Love marriages increased and thus parents preference for children wishes increased.
b.      Inter religious and inter caste marriages increased and thus caste rigidities and inequalities getting reduced.
Negative impact:
a.       Divorce rate increased
b.      Marriage changed from religious sacrament to civil contract.
c.       Unmarried boys and girls are sharing same apartment and staying away from their parents. Thus without marriage live-in relationships are happening in India

·         Family:
Positive impact:
a.       Previously all the members of the family did the same type of work but after globalization the same family has adapted different types of work depending upon availability and their economic benefits.
b.      As husband and wife are employed in most of the cases the child care is taken by day care centers or crèches.
c.       Family controls on children are getting weekend and children wishes are seldom ignored
d.      Social gatherings are getting increased than religious gatherings.
Negative impact:
a.       Nuclear families increased at the expense of joint families
b.      Family ceased to be a unit of production.
c.       The voice and decision of elders in the family matters decreased.

·         Education:
Positive impact:
a.       Foreign universities tie up with Indian universities increased.
b.      Literacy rate increased
c.       Scientific and technological innovations have made life comfortable, pleasant and enjoyable.
d.      Extension of internet facilities to rural areas and thus increasing awareness in rural youth.
e.       Increased access to better and qualitative education.
f.       The choices for the children increased as there are many streams in education to pursue.
g.      Extensive use of information communication technology.
Negative impact:
a.       Education became commercialized
b.      Pressure on children increased by parents, teachers, peers to get succeed in education which is essential to compete in this globalized world
c.       Education is measured in the number of degrees a person holds rather than the useful knowledge he gained.
·         Society:
Positive impact:
a.       People shifting from unorganized sector to organized sector
b.      Distinction between polluting and non polluting castes getting weakened.
c.       Social taboos are getting weakened
d.      Caste based occupations are getting converted to merit based occupations.
Negative impact:
a.       Rural, urban divide increased
b.      Migration of people from rural areas to urban areas due to urbanization
c.       Due to extreme mechanization demand for manual labor is decreasing day by day. This leads to increase in unemployment

Political impact:
Positive impact:
                a.       Awareness about the right to vote increased.
                b.      Opinion forming in many political issues increased with the help of ICT.
                c.       International obligations creating pressures on domestic political system.
                d.      India say in international matters increased.
                e.       Financial support from international organizations to India became possible due to globalization
Negative impact:
               a.       Politico-bureaucracy-industrial nexus increased which is affecting badly the common man.
               b.      Criminalization of politics and politicization of criminals increased.
               c.       Organized crime with political support increased.

Environmental impact:
Positive impact:
a.       Awareness and concern about environmental problems increased
b.      Technology and financial support from international organizations to combat climate change
Negative impact:
a.       Excessive emission of green house gases which leads to climate change and global warming
b.      Land degradation due to excessive use of chemical fertilizers
c.       Degradation of ozone layer due to release of ozone depleting substances like chloro floro carbons (CFCs)
d.      Excessive mining and deforestation caused displacement of millions of people without proper rehabilitation and resettlement provisions.
Source via - thehindu.com/
economictimes.indiatimes.com/