Foreign Direct Investments In India
May 5th, 2010
Question: Does the present economy of India benefit the common man of India? Why?
India at present it showing tremedous progress in terms of economic growth. At present the nation is being considered to be the second fastest developing economy after China. Foreign Direct Investments are flowing in at a larger volume than ever before. But the question is does the common man benefit from it? There might be innappropriate contribution in certain policies and taxation. (Please give your answers in realistic sense apart from fiction words heartrendering in nature! PLEASE)
Answer: for the ‘common man’ of india development has been a mixed blessing.
this must be looked at from the point of the fact that ’size of the pie must increase for the individual slices to increase’. now if the country’s income increases and it develops then so shall the common man develop (which is the present scenario)
our country’s development is led to an increase in incomes, in employment, avalability of goods and services, education, health services etc. for everyone including the common man. infact one can go on and on….. true the development has been a little lopsided but for the ‘trickle down effect’ to fully take shape it will take some while and in any case some disparity in benefits derived can never be eleminated.
one can appreciate the benefits of development in light of a few example:
before our ‘fast paced’ development could be dream of world class health facilities? true some health facilities seem expensive but that was the case earlier also. However today doctors and hospitals are a lot more readily available and at more competitive prices. Medicines and treatments in india are a lot more cheaper than anywhere in the world and not any lesser in terms of quality. Why else do we have patients coming in even from Pakistan?
apart from this communication and information is more accessible. this has led to awareness among the common people. Right to information act etc are a consequence of development and are tool which can be used especially by the common man for his good as well as for the greater good of the society.
Our media has become so active that even plight of ‘nithari’ victims gets highlighted that even the government is forced to look up and act. Today because of strict implementation of laws even a common maid can see her children in a public school (we have a quota for poor people in schools). Could this happen 3 decades ago?
Everyone has had some benefits of development in some form or the other….in some small or big way… but it has happened. However one must realise that a ‘utopian’ society can not be achieved. if on one hand we have small rickshaw pullers having mobile phones then we will also hav some farmers committing suicide (like in vidhabha). But with development such incidents will happen less and we would see more of good.
Speech on Foreign Direct Investment FDI in India by Julie Rosenthal
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Tags: business, fdi, foreign direct investments in india, india, investment, investments