Indian Economy: Old Wine in New Bottle!

Hi all, the topic Indian economy is old wine in new bottle, is to me is partially correct & partially wrong. Because, every view shows the way of seeing it. If I am not mistaken, those who are participating in this discussion are mostly belonged to young age & middle class. (Of course, I also. Because the worst affected layer is middle class&rich due to inflation, poor people are benefiting from the high inflationary situation. Nobody would talk about middle class & rich). And are frustrated due to very less employment opportunities& high costly Education system.

The reason & solution you people are (some) suggesting & obviously eager to implement are impracticable & don't suit Indian conditions. Guys. I request you all that, don't blame the system or GOI schemes simply because, it didn't yield any fruits for you. Obviously, we are all part of the system & I believe that every one of us is directly responsible to the current scenarios, whether it is economical, political, , cultural. We must not exclude ourselves from this very system. (one eg. I would like to give you here. We all know the value of water, yet we used to preach the value of it, but when comes to our home, we don't utilize it judiciously.

So for the shortage of water supply, we blame local govt forgetting our role of importance as a responsible citizen of India) of course it's a necessary situation, if you follow some global countries you can understand why I am saying this. I am saying these because, there is a linkage between all the present scenarios. Now, let us come to the topic, , economic situation has worsened in the recent times. When comes to the reasons & solutions, I understand that, no principle or theory is absolutely useful in India. Please remember, India is a pluralistic country.

Moreover it is secular, vast. So, , India can't initiative any reforms regarding issues, because of its geopolitical position, diverse conditions in every aspect. So balanced, flexible solutions would certainly do workout. I understand that GOI is doing well, but its not in its control, yes. Only one area which the govt should consider, they are implementing wonderful schemes but neglecting community involvement. If any scheme's success not in implementation only, if it yield fruitful results, then it should have been there available for you all the time. GOI implement schemes only to a certain period of time, forgetting its future consequences. Corruption at the administrative level is also a big drawback to the effective implementation.

To avoid all these & success, community involvement is very much required. Every citizen of India should understand the responsibilities & act for the sake of big India. So please suggest implementable solutions. As for as politics & politicians are concerned, Indian people are sole responsible as they need to vote eligible persons. So the ball is in our boundary, We should act wisely. Quality Education will solve almost all problems of India. For now, there are no easy answers for current economic situation of India, as wide range of policies are need tobe follow regarding high fiscal deficit, high CAD, high inflation, Rupee depreciation, high interest rates, drop in investments, &power sector crisis. If we suggest & implement one solution, it should also work in the long term, otherwise, it will deteriorate Theocritus. I do not think, the GOI has too many options regarding current Indian financial crisis. Short term goals are tend to pose another challenge one after another.

I am sure government is ready for the challenge & find solutions, the situation will calm down within 1-2yrs. So guys let us all wait & contribute ourselves to it without hesitation. I accept one of my suggested to use the abundant& highly energetic Indian human resources. We urge the government to do so. Thank you.

Speaking about Indian economy, whether its old wine in new bottle or new wine in old bottle.... Many of us are unaware about the major parameters that determine the foundation of Indian economy. Let me just list out the few parameters which forms the basics of Indian economy.

1. Education - This is the top priority of India right now. Because, everybody knows, India is second largest populated country in the world. Population one of our strengths should be directed in the right way to achieve maximum efficiency. Therefore, to move this population in the right track, EDUCATION is MUST.

2. Electricity - This is the basic critieria to run any industry. At present there is a huge gap of supply and demand in electricity. The economy of India mainly depends on Industries and their growth. To improve the industrial efficiency, ELECTRICITY is MUST.

3. Infrastructure - This is another important criteria when we speak about Indian economy. If you see other developed nations, their infrastructure is way ahead if you compare it in India. Therefore, we must lay our concentration in infrastructure if you want India to be a developed nation. Therefore INFRASTRUCTURE is MUST

4.Governing body - As we all know, we must have a good administration to have a good control over all the rules and regulations prevailing in India. The rules need to be more stringent and all corrupts should be punished. Here there is a lot of scope to be improved. Therefore GOVERNING BODY is MUST

5.Agriculture - Basically India is a Agricultural country. But now agriculture is under prioritized and all the agricultural lands are turning out to be commercial lands. This trend must change. All our newly invented technologies should be used to bring agricultual reforms. Therefore AGRICULTURE is MUST

6.Resources must be routed properly - India is still having a lot of resources to be utilized and it must be properly routed. For instance electricity is wasted in many ways like electricity thefts, subsidy for electricity for farmers. These things can not be done when there is a scarcity of electricity. Therefore all the resources must be routed properly.

All these are a few parameters that all Indians must know who wants India do be a developed nation. Even though we all say "OLD WINE IN A NEW BOTTLE", many of us doesnt even know about the old wine. So please read it and spread it and let us create an awareness in the mindset of people and lets make India a developed nation soon.........

Given argument implies - "Is the core of Indian economy unfit for the new age and only a show off to the world?".

Yes, very much agreeable because the momentum of old economy is still there and can only be renewed by younger generation, outward shining will only please your mind.

But despite, I would say Indian economy is a fresh and strong wine being served un-chilled with added water.

We all think we are lagging behind because our skills are being misused because of corruption. We believe that we can go far beyond.

It is not only the administration or the corporate to be blamed for poor strategy, but also we people, yes the common you and me.

Because, it is a chain, you cannot deny it. If here at the lowest level is you and me hoping for the right strategies by the authorities, then there is also a same you and me at the top level hoping for their employees to give their best.

Then what happened? why is it not working? Its not working because we usually don't feel like it. To be a unit. The best we can think is. "I have enough potential to change everything, but if I work hard, will the other employees work hard as me, is the boss paying attention to my hard-work, will I be rewarded for it or all my work will be demolished by corruption?".

If a single member gives up, the chain is broken and scattered. It is unable to drive the economy. It will produce only a GDP of iron piece/kg.

On the other hand if we want to do something really powerful. The best thing to do is simply work hard as per our potential without a second thought.

Because you don't work hard for the reward, reward is destined to come after the hard work.

You and me are the most vital person in the whole world, our product is the only input to our superiors which in turn is the only input for the reward we are looking for. And if you worry about corruption, then I can say, if the seed sown is pure, then corruption is a parasite and will be eliminated by the whole body.

Hi
Today i m speaking on the topic.
INDIAN ECONOMY AS THE OLD WINE IN NEW BOTTLE, I disagree with this statement. Indian economy is the new wine in the old bottle. The whole outline is old but the inner beauty is new,its different from the encient wine. Since 1991, libralization,urbanization, globalization, has changed the Indian economy.

Our economy is moving for better acheivement. After independence Indian economy has raised its flag of success.

The educated or litterate peopl of India who are in now foreign countries should come in their country. Many Indians are working in other countries. They are working their for the development of that country . They are helping in to improve their economic conditions. But those Indian people who in other countries should come in their countries. They should come in India. It will help us to improve our economic conditions.

We are seeing that by 1991 the Indian public sector and the private sector are boomong in all over the world. These sectors are providing employment to the unemployed person but willing to do work. By this the economic condition is becoming beter. Our country's GDP rate has been increasing . The litteracy level of our country is also increasing.

In the past years on our country only agriculture was in more use but now the manufacturing and service sector is in demand and making more profits.People have their talent n wllingness to do work. Some new and intelligent politicians are in our country (sachin pailot,Rahul Gandhi n etc)who visiting in the every staste of our country n trying to the economic condition of every staste.

Therefore ,i want to suggest that try to encourage our youngesterby which they come forward help to change the wine very costly ,so that nobody can destroy it!

How many remember the name of 'ARCHARYA CHANAKYA'? The great Indian Economist. His thought are known as 'CHANAKYANITI'. I am telling this because the topic directly get related to 'CHANAKYANITI'.

-Chankya was responsible for the thought process of SINGLE NATION in the era of different kingdoms within the boundary of India. Chanakya talked about the dirty politics and the remedies to handle it.

-He pin pointed the importance of teacher in building the one nation.

-He was only the person who actually finishes the rule of 'KING DHANANAD', the most corrupted king of MHAGADH kingdom, without having a battle with him.

-He was the person who united all kingdoms when ALEXANDER the great attacked from north. Under his guidance only kingdoms like PANCHALI, NEPAL Naresh etc. Which were on boundaries got united against ALEXANDER though they were rivals of each other.

-Chankya gave a lessons to his student about their responsibilities toward the nation.

-He told the importance of Agriculture and Trading between kingdom.

---- Now tell me all my dear friends is this a complete match of Indian Economy? which includes.

1. United INDIA in different states.

2. Trading and agriculture within country and outside too.

3. Corruption in politicians, As remedy and chance of correction, Election that is to be held after every 5 years.

4. Importance of Education as a backbone of Indian Economy.

These are the main pillars of Indian Economy. Smoothness in this in addition of the aspects of globalization and international economy is nothing but today's economy.

The same case with wine also, IT IS NOT ABOUT THE FAKE WINE OR SOMETHING, older wine is amazing at its taste, smell and its fully fermented ingredients.

SO YES INDIAN ECONOMY IS OLD WINE IN NEW BOTTLE.

Hi,

Today I'm speaking on the topic INDIAN ECONOMY AS THE OLD WINE IN NEW BOTTLE, I disagree with this statement. Indian economy is the new wine in the old bottle. The whole outline is old but the inner beauty is new, it's different from the ancient wine. Since 1991, liberalization, urbanization, globalization, has changed the Indian economy.

Our economy is moving for better achievement. After independence Indian economy has raised its flag of success.

The educated or literate people of India who are in now foreign countries should come in their country. Many Indians are working in other countries. They are working their for the development of that country. They are helping in to improve their economic conditions. But those Indian people who in other countries should come in their countries. They should come in India. It will help us to improve our economic conditions.

We are seeing that by 1991 the Indian public sector and the private sector are booming in all over the world. These sectors are providing employment to the unemployed person but willing to do work. By this the economic condition is becoming better. Our country's GDP rate has been increasing. The literacy level of our country is also increasing.

In the past years on our country only agriculture was in more use but now the manufacturing and service sector is in demand and making more profits. People have their talent and willingness to do work. Some new and intelligent politicians are in our country who visiting in the every state of our country and trying to the economic condition of every state.

Therefore, I want to suggest that try to encourage our youngster by which they come forward help to change the wine very costly, so that nobody can destroy it!

I beg to disagree with the tag that Indian economy is being given "Old Wine in a New Bottle". I agree with the fact that the economy is a new bottle having various new policies being implemented to account for the handling of multiple aspects of economy like Retail, Agriculture, Military, Power, Banking etc.

But the Indian economy is not an old wine. More number of young graduates and engineers are taking up interest in economic sector jobs from IITs, NITs to give wise inputs into the sector. Having said all that the GDP of India has lowered down from 9.3% to 4.7% in past three years starting from 2010. Precisely the Indian economy abolished the policy of License Raj, which involved the intervention of government towards decision making and were able to maximize the per-capita income substantially during 1991-96.

But the current situation is worse than that in terms of per-capita income and GDP. The reason is probably because of the fact that 51% FDI allowance in non-branded retail and 100% in branded retail has invoked a huge number of policies to be implemented. Numerous such policies have some inherent complications within them which are not flexibly interpreted by the authority of a particular section of economy. Hence seek the government intervention which bears a combination of capitalist and socialist policies. Such anomaly in interpretation creates confusion in the sectors for which the smooth implementation fails to occur. This is only the negative aspect.

So given the current resources I think that Indian economy is there to grow with increasing FDI if the policies are in sync with the concerned demands of the customer with as little intervention of the government as possible.

Good morning everyone,

According to me, Indian economy is still in the condition of OLD WINE IN NEW BOTTLE. To those who said differently, No disrespect I instead appreciate your point but the above is just my point of view. India is still operating at a slow pace, using the old methods, techniques, habits, policies, processes, etc. If compared with the time.

We are in 2012 and still if you want a tatkal railway ticket, you would have to stay awake and stand in line for hours to get a conform ticket. Instead of guarding your position in the Que for the whole night, there could be ensuring electronic entry of data at every railway station.

Not just the policies but also the people planning them and the people executing them are, well more of OLD WINE compared to the NEW BOTTLE of 2012.

I am not saying that new population should be the in-charge but the contribution should increase from current levels. OLD WINE tastes of experience, NEW WINE has innovative and fresh taste. To avoid economical disasters and cause riotous growth both are necessary. The economy and the lives of people of a country should be developing and evolving continuously.

The governing body should have experience and new way of thinking both, a combination of old wine and new wine to get the best of the two.

India is evolving, but at a very slow pace w.r.t. The rocket-speed developments and changes around the world. It is time increasingly new methods are planned and corrected and implemented with old experience. It is time to make INDIAN ECONOMY the APPROPRIATE MIX of OLD AND NEW WINE in the NEW BOTTLE.

My friends you all are right, however I would like to share an example here - If you see the economic status - The Indian currency has plunged a little over 13 percent so far in the month of August alone to mark its worst monthly fall since the year 1993.

This great fall was seen due to some decisions taken in parliament in last 2-3 days. Those decisions are just going to profit the people who are marked at lower class or we can say people living in rural areas or the poor people. However, the actual public who can stabilize the conditions are not being assured for their health and wealth.

When our current government took over the positions, they were expected to bring growth and which they brought, however their strategies were different, still I think it was correct to some extent as we saw a great foreign investment in India. However, overall what we saw is development of literate people, people who are aware of economic conditions and who can predict the future values.

Since investors are looking ahead for their profits and also towards the stability of INR, the government Has been unable to assure the investors for their future profits. The reason why I mentioned this is, the Indian economy now depends on the foreign investment and not on domestic investors as they have never been profited as per their expectations.

Indian economy can only be stabilized if investors invest in India, may it be foreign or domestic. And this can only be done when correct decisions are taken by government To ensure people investing in India are being profited.

After reading the views of all the people I am surprised that so many people are really interested to improve our country. Because myself busy in my working thinking about myself.

We really need to do something to bring the situation in good condition. But who will start. We even don't know What is to be done? Who will do it? How To do It? When is to be done?

We don't have any plans or answers to this above questions. Rich people are becoming rich. Poor people are not willing to be rich in-spite of so many government facilities given to them. Nobody wants to do agriculture. Middle class people are busy in solving and fulfilling their basic needs of family. Politicians are enjoying their life by dumping the money in their Swiss bank Accounts. Only best place to work in India is enter the politics. If we just recover the black money from the politicians or if these people pay the tax on the money earned in scandals our economy will grow like any thing.

In Budget govt announces.

1. 20000 crores for road developments.

2. 25000 crores for education system.

3. 20000 crores for women development.

But in the above mentioned amounts only 20% percent is used for development. Rest all the money is in Swiss bank accounts. This is the situation of our country.

It is the duty of every citizen to ask questions to our govt regarding this scandals.