INDIA - PRESENT SCENARIO

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Some Facts and Comparison:

 India is a diversified country having populous of peoples belonging to different race, caste and religions. According to the recent census, 2011, the population of India is estimated as 1210 millions. India is ranked second largest populated country in the world, right behind China whose population is 1340 millions (census 2010). It is evident from the trend of the growth that India is going to leave behind China in coming years, and will become the most populated country in the the world.

India holds 17.5% of the total world population but has only 2.4% of total land area in the world, while China hold 20% population and has 7% of land area. USA has 6% of world population and 7% of the land area, while Russia holds only 5% of the population and has 12% of the land area.

Latest Trend of Population (source: google.co.in)

Achievements and failures by Indian Governments in past 67 years:

Achievements: 

  • Governments since Independence, 1947, were/are doing what was/is in their hands to meet the basic requirements and needs of the people of India. In the last 67 years of independence,we, India, have mastered and proved world-class in some/different sectors of economy which include agricultural, industrial and service sectors, in fact our IT services are of world class. 
  • India has pioneered in space technology. and for now India's MOM (Mars Orbital Mission) is an indegeniously made mission. 
  • Infrastructure projects have been boosted up in recent years like introduction of Metro Rail projects in different cities of India learning from the success of DMRC (Delhi Metro Rail Corporation), developing High Speed Corridor Roads to reduce the travel time of the heavy motor vehicles, construction of dams for generation of electricity to meet the rising daily energy demand, and many other projects which are going to directly or indirectly benefit the common people of India.


Failures:

  • In the past 67 years of Independent India, different governments have not been able to break the jinks of poverty due to which our per-capita income remains a lowly USD 1450. 
  • Equity growth which is one of the main goals of five-year plan have been partially fulfilled so far.
  • There is also a large scale leakage and corruption in the system which has yet not been reduced/ended despite of many efforts of the governments.


Present Scenarios and problem:

  • Presently, the proportion of Working-Age Population (WAP) in India is increasing rapidly which is a good sign for the economy and it is an estimation that WAP is about to increase from 58% in 2001 to 64% in 2021. In contrary to the that, there is addition of approximately 1.25 crores of students/people every year who are looking for new jobs in different sectors, and the jobs have not been generated with the same pace so far. This leads to increase in the unemployment percentage of the country.
  • Increase in WAP means:

      1. The demand in the market increases, so there is huge pressure on the production/supply side which has to cope-up with the increasing demand. If this demand and supply ratio increases, inflation increases. 
      2. If the demand is increasing then it is an opportunity for the firms to hire more people to increase the production, so that demanding side can be satisfied. So, increase in WAP increases the employment rate by an indirect relation.
  • Increasing population is also a big problem for India as it doesn't matter how much infrastructure is developed by the government it is always going to outrun the population.


Way Ahead/Solutions:
  • Improve job-market to reduce the unemployment by doing several things:
      1. Improving the infrastructure as poor infrastructure kills the manufacturing jobs and the respective companies can't grow enough.
      2. Currently India has very rigid Labour Law, which needs a reform as rigid Labour Law force companies to hire labour on contract basis and not on permanent basis which in turn increase disguise unemployment.
      3. Apprentices Act, 1961 also need a reform as according to current Apprentices act, if any country hires Apprentices then it considered as permanent employee, so no company wants to hire Apprentices, so basic learning stage is lost.
  • Indian government also needs to focus on stabilizing the population of the country in near future so that benefits can trickle-down from top to bottom effectively. 

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