India - Advanced Economy

7/13/2018

According to the World Bank updated assessment India has become world’s 6th largest economy replacing France in the list of 7 nations. The calculation on rupee in the list of the nations the America is first with GDP of 1379 lakh crores of rupees, the second is China with GDP of 963 lakh crores, the third is Japan with 351 lakh crores, 4th is Germany 289 lakh crores, the 5th is Britain with 202 lakh crores, 6th is India with 168 lakh crores of rupees and 7th is France with 178 lakh crores. It is a matter of happiness that we are advancing economy but not a matter of satisfaction with the feeling of achievement. Because with France we are very marginally ahead with just one lakh crores. We in no way in economic race with a European country France. In the 7 nation list the China is in second position with GDP of 963 lakh crores ahead of India with massive 785 lakh crores. We are big in size and population of 134 crores people while France is middle size nation with the population of 6.7 crores only. But the China is larger in size with India and a population also. Corruption in Government is the biggest obstacle in our development and growth of economy. But the Chinese Government has also acknowledged openly that China is also facing the problem corruption in administration and tax evasions. The Education, updated infrastructure and corruption free administration are the basic of development and growth. We lack in all these tests. We must ensure primary school in each village with school building and teaching staff, complete infrastructure particularly roads and electricity and ruthless action against corruption. What to say of road, in the just beginning of rainy season it is shown on TV Channels that there are big holes in Mumbai roads causing many road accidents and death every day. The roads of Capital Bhopal also presenting the same situation. The other day bus turned turtle in the city on a hole. What is to say of contradiction of Chief Minister Mr.Shivraj Singh Chouhan, once he said that roads of Madhya Pradesh are so damaged that it is exercise on moving on it and on the other hand he said that roads of Madhya Pradesh are better than that of America. The World Bank assessment said that after demonetization and GST setback to the Indian economy now it has rebounded and it is capable of giving stable development. After the unsuccessful phase of nationalization now with entry of private sector in the economy the investment and production and business have picked up. The growth in economy is visible. The Government must ensure the fiscal deficit in always within the permissible limit and corruption free administration is there for quality development.

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