Noor Khan, Trainee Reporter, MassCoMedia
A famous saying “History repeat itself” has been again proven with the development of world’s largest democracy – India.
India was once believed to be a land that was symbolised as golden bird which has now emerged as the land of golden economy after 60 years of its independence.
The India of today is quite different from what is used to be in the past, as far as close study of its growth chart presents. It has changed for the better as the analyst all over the world find. They present their view in a very objective way relying on the data collected painstakingly over the year All expert, both at home and abbroad , agree that India hash made a remarkable progress with regard to the income of people, individually as well as collectively. Common people as well as the knowledgeable one emerged and atmosphere has become conducive for the commencement as well as growth of business today. On the whole, we can say though the modern advancement and growth of our country have benefited mainly the urban middle classes, quantum of benefit has varied across classes throughout the country. The most significant fact is that oour country moved a step forward in the direction of development, while the biggest economies of the world reeled under the worst impact of global meltdown. As our country fared well during the time of global slow down dat the world witness during the later years of the first decade of the 21 century, we can hope do the best during the year it is passing through and in the decade to fallow. The factor that ensured the growth of Indian economy are chiefly said to be the country’s manpower ( which consisted of younger and more productive person than in the past), money ( to fund investment and consumption), confidence (that entrepreneurship and investment will result in significant returns) and competition (that proved fiercer yet healthier and ever-increasing). As far as the factors are concerned, thy are still present and not going to vanish very soon, so we can look forward to more growth and prosperity.
We should, however, not ignore d factor that impeded our growth in the past. When the country ushered in the past new century, the greatest problem that it faced was uncontrollable population explosion. Now, the scene has completely changed. The country is harvesting its population’s strength to its benefit rather than considering it unmanageable. How ironical it looks now when we are in a position to give international Monetary Fund, There fore the scene is just the reverse now. The vistas of opportunity during the first decade of this century fallowed the change in perception when business-idea not the business-licence came to regarded as the key ingredient for a start-up. That becomes possible when the politicians at the helm of affairs started recognising, new political parties. They not only promised but many of them actually fulfilled also what they had promised. And un like their past behaviour, they start talking on growth without any hesitation. In 2007, the Finance minister of India Mr. P. Chidambaram told a gathering abroad that “without growth, India will remain a poor, rich nation”. What he meant to say was that the size of the cake is necessary to determine the slice of the cake. In other word, economic policies should stress more on wealth creation which would in turn decide the wealth distribution.
Impact of Indian economy was seen when U.S.A ‘s president mentioned in his speech at Mumbai at “India is not emerging, but has already a emerged Nation. It has a very crucial role to play in global economy rise. The rock of Indian economy was even excepted by world biggest economy’s when Chinese president said dat India is not a rival but a partner for its rise.
The rise of India can be seen in every possible field. India holds the record of worlds second largest arm buyer and is said to be a pool of engineers and doctors. Beside these India is making a marvellous development in field of agriculture after been declared as third most producer of wheat and second most producer of tea after china. In field of technology India holds the number one position in software technology.
India’s capacity in sports was seen when its sport stars performed wonderfully in Commonwealth Games (CWG) and Asian games. Indian cricket always proved to be his iron in world.
India’s strength was seen in international sphere when many ‘Veto Nation’ themselves showed their open support for India’s seat for (UNSC) United Nation Security Council. Hillary Clinton herself said dat India has herself earned a seat in UNSC.