India needs a correction
Sunday, November 04, 2007
It's a known story that India is growing at a faster rate and very well on the track to create billion dollar individuals. But, is this growth sustainable on a long run. As the PM warned, what happens when the success is not shared with the fellow citizens of India. I'm no economics expert, but I strongly believe India needs a correction and that too an immediate one. Resources are stretched and country seems to be running on steroids without the fundamental things being met. Infrastructure is worn out, yet cars in thousands on the road everyday. Infrastructure building needs labor, but it is in a huge shortage in India. Perhaps we need to consider importing them from Dubai and the rest of Gulf to whom we previously exported. Real estate prices are ridiculous and we are building islands inside India with the poor living just by the side. This trend clearly needs a correction, if the country is hoping to to jump to the next level of development without any social upheaval. A strong correction now in the economy is the only way out. Perhaps, the rising tensions in our immediate neighborhood and the slow down in the US economy can just be start of it.
Posted byPraveen J at 3:50 PM
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