INDIA IS A WEALTHY OR A POOR NATION?

This is a question we must ask ourselves. Wealth is denoted by GDP, pci and ppp of a country. We will find the top countries in GDP.

USA, China, Japan, Germany, India, UK, France, Brazil, Italy and Canada can be found in this list.

However the GDP per capita varies from the above list.

Quatar, Macao, Luxembourg, Singapore, Brunei, Ireland, UAE, Kuwait, Switzerland and San Marino come on top in this list.

What makes a country wealthy? It is nothing but the natural resources available in that country and the man power available  there  to exploit those. According to IMF,  on a per capita income basis, India ranked 142nd by GDP (nominal) and 125th by GDP (ppp). While placed at 4th in the world ranking in GDP why we become low placed in per capita income? Economists may say it is because of the high population. It must be wrong. It is the same high population that brought the high GDP. When it is distributed it is shared by more numbers. That is the fact. Less people are allowed to put their efforts and more are made to share it.

When we have such amount of manpower our GDP should have been much higher, may be two or three times more. Then the per capita income too become proportionately higher. What happens in our country is not a targeted production. We should use cent per cent of our man power to exploit all available resources. If we try to find the unexploited resources, we may first identify the arena of oil. For one reason or the other we are reluctant to tap more oil sources within our country. There are many such fields that can be utilised effectively.

In short, if we can provide employment to all, our GDP will become more and more, our per capita income too become proportionately higher, people will be contented, and we will become a rich country. Government need not spend much of a money for this. All we need is a firm will and timely implementation. Let us all stand behind the government towards this direction.

K V George