India is classified by the World Bank as the “lower middle income” country. It comes in the same category of our neighbour Pakistan. What is lower middle-income country and why India is one of those? While the countries of India’s size like Brazil are higher middle-income countries; India despite having the manpower and natural resources is lagging.
Much of the economic downturn can be attributed to India’s caste system. Caste system deprives people of different castes the equal opportunities hence only a few privileged caste groups enjoy the fruits.
To begin with, India is endowed with abundant natural resources. The geographic advantage of India is not yet cashed by Indian policy makers. There is too much concentration on the service sector and financial sector, and the sectors that really matter are neglected.
The fanatic madness of RSS/BJP government to convert India into a brahminical dictatorship is further pulling the economy down. Yes, the foreign investment is only flowing into the coffers of the established businesses and Indian capitalists businesses. There is hardly any inflow in the sectors that matters. The government is bent on outsourcing even the governance to the private parties.
There is an urgent need to convert Indian government accountable to the citizens and not to the corporate capitalists. We might end up with poverty and unemployment if the issues are not urgently addressed.
A lower middle-class economy tag and a lot of public money by the Indian corporate sector is a shame for all of us.
Author- Mangesh Dahiwale, Human Rights Activist