Essays on Contemporary Indian Economy

Corporate honchos-management gurus-intellectuals are all in agreement that India is on its way to becoming an economic superpower. An essential feature of all developed societies is: they spend huge amounts – 30% of their GDP – on providing education, health, old age security, clean drinking water, sanitation, etc. to their people…In contrast, India spends just 7% of its GDP on welfare services…How can a country which is home to one-third of the world’s malnourished children, where 42% of children drop out of school without completing basic schooling, which is the disease capital of the world, claim that it is on its way to becoming an economic superpower? And now, the new BJP Government has further cut government spending on health, education, drinking water, sanitation… Why is the government hell-bent on privatising India’s public sector insurance companies, which are amongst the best run companies in the world, and handing them over to foreign insurance companies, who are known to be crooks, scoundrels and fast operators?