Indian Economy: Old Wine in New Bottle!

Hi friends,

The topic of our discussion is "Indian Economy: Old Wine In New Bottle". In my opinion, the "old wine" here refers to the traditional economy of our country and all the older methods by which people harnessed the natural resources for earning their livelihood. And the "New Bottle" here refers to the latest infrastructure and new technologies on which our economy prospers.

For example, in ancient India people used to borrow money from SAHUKAARs at some interest rate to fulfil their emergency needs. But now this facility is provided by various banks in our country in a more advanced and hi-tech way. Our country was an agriculture based country and now also agriculture comes under priority sector of our economy and farmers are the backbone of Indian economy. That's why govt. has been providing various facilities at subsidised rates to our farmers.

In ancient India, people used to burn woods to get heat and light. But now this wood is used in thermal power plants for generation of electricity which gives us light and heat.

So, through these examples, I want to say that with judicious use of our resources, keeping agriculture always at the top of our priority list and by erasing the problem of corruption, our Indian economy will grow manyfold in this "new bottle".

Thank You!!

In my point of view these politicians are the main culprits for this Indian Economy.

In each and every field everyone is corrupted. This scam that scam like that everyone is saying about that but the problem is not solving and that scams. That culprits are in front of us but govt is not bothered about that because of the politicians how play a major role in this. Simply this politicians displaying the Budget that we have done this work that work but how much quality of work they have done they don't want that they want to show this much of budget and swallow remaining.

By this how the Indian economy can be increased.

Some of the indians after completing this Graduation. They are interested to study in abroad. They want to stay over there earn money over there increase that countries economy.

Like this our Abdul kalam and our sachin will think like them.

They are not bothered about that foreign country dollar or pound they are think about their Nation, their mother land.

In each and every field there many competitive exams like this.

There should me some should be something like this for the young political leaders to enter into politics.

So, at last my conclusion is study here, stay here, earn here, pay tax here, live here and make a good Nation and increase Indian Economy.

Jai hind!

I agree with all of you. In my point of view each every individual is responsible for the condition of Indian economy today. We are not paying the taxes to the government properly and saving all of our money by showing wrong accounts. Most of the talented people are going to other countries because in India the other people are not allowing to grow them, this is known by everyone as there is an example stating that if all the Indian frogs are kept in an container they will not go outside since the other frog does not allows one frog to go out of it.

Agriculture is backbone of our country but the people who are having fields, does not know anything about the crop patterns. Also the people who are designated in the posts like MRO, Collectors also does not have any knowledge about it. What I feel is whether they are studying other courses, the people must have basic knowledge about crops.

Because of government there was increase in prices of all the products and land cost is also increased, so many of the agriculture lands are getting converted to barren lands. Many buildings are constructed on those lands and were sold. Actually a buildings cannot be build on agriculture land but government is not taking any action on this.

I agree with you all of my friend but in my point of view you can't blame only the politians or N. Are. I's because India is democratic country and we choose our government. And no government is free from corruption. My friend we all known the problem of our economy faces but we have to sugges some ideas to overcome the prblems of our faces. I think government have to take reasonable steps to make our economy strong no doubt India is a big country and its a developing country so we have opportunity and have platform to perform so why people go aboard for studies and work because somewhere our country fails to provide the higher education and platform to perform. Why the people of India work for another country because they get more salary and everyone wants to make money.

So I think government have to take some steps to overcome the problems. Its not about old wine or new wine its about the wine should be pure. In our present economy we have many opportunities but we have to aware and grabe our chance. New economy like our technogy, infrastructure, urbanisation, globalisation taking place we have many opportunity so from my point of view its a new wine in old bottle.

Trade union is a weapon of the disrupted workers. Whenever industrial authority tortures workers to work inhumanly and deprive them of their financial support, helpless workers will be speechless audience due to social and financial impact of the management authority. Growth of economy does mean growth of garner of country with people from different sectors. If workers are deprived of their financial justice, their children will suffer from lack of nutrition, education etc. Food, cloth, home is man's primitive demand. If they deprived of it, they can not work most efficiently. Then also industrial product will be less than the previous. So growth of economy will be victim of it.

We also keep in mind that workers are not like commodities sold in the market. They also have their right to protest against injustice. Besides growth of economy does not mean only growth of the financial garner of country as well as people from the upper rank of society. It is because government of the people, by the people, for the people. If people from different sectors can live with sufficient financial support, then manpower can be utilized better for the growth of economy.

I think we should not blame others for the poverty that growing day to day and also the worst political leaders way of guiding which leads to corruption. We should 1st aware about what will be the right way to drive the economic and political ethics. The 1st thing is to promote the educational facility in rural areas for which they would also able to understand their rights as well as duties. Then 2nd our country has lot of valuable resource which our country always used to export to the foreign countries and other countries use our resources to become more powerful economically. So we should not export these valuable resources which our country has. Each n every person should aware about his/her duties, responsibility as well as rights for which they will come forward to help others and our country as a whole. So its not to blame others if we are doing so not tried to capable ourselves for our duties then our country can't be developed. So 1st thing is to develop ourselves n dedicated towards our duties for our country. And by which we can decrease the level of corruption in our country. And can have foreign black money back to our country. Thank you.

If we see our Indian history we were always strong in our population. More than population the number of eligible workforce we have either knowledge industrylike IT or banking or Govt services or in manufacturing take for eg. TVS or Ambani or Tatas. We never lagged in our talent or hard workship.

On the other hand, India is blessed with good amount of minerals like Rice, Wheat, Coffee, Cash crops like Cashew, etc. So now we have materials and man.

We have always banked upon our strengths like our knowledgeable work forces I the recent years esp. From 1990s. Do not forget Agriculture in the end is a mfg sector which contributed to 65% of our GDP and now it contributed to mere 25%. This is good for our economy as well because We are good at services industry now. More than 50% GDP is from services. If you compare this with developed nation like USwhere service industry contributes to 60% nearly to their GDP. So we are now a right mix of services + mfg. But with little more emphasis on mfg we are ready to rock the world. After all do not forget India is one of few countries who were not affected by that 2007 recession!

Hello, friends.

Many of you said your opinion but I'm differing with you, the economy of India is the seventh largest economy in the world. The country is classified as a newly industrialized country. One of the G-20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. The long-term growth perspective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century.

Yes, we have politicians who are corrupted and we do face lots of scams in the last few decades. However India is the largest democratic country, we Indians failed to select and elect least corrupt politicians.

But people are changing their attitudes, future India is younger's India. We, young people, are the future of the India. "Little drops of rain makes a mighty ocean". Thanking you for a better India.

Hello people!

My name is Parag.

I read most of the responses and I personally believe that wine is improving. The rate of improvement with respect to time is slow. May be some of you know about the term CAPITALISM 24902. That means to bring capitalism to the whole world. That implies creating more and more entrepreneurs in the world. (24902 is perimeter of earth). Here I am talking globally but it will definitely serve at national level.

Like all the private companies should provide more and more support in terms of money, strategy, ideas to the wanna be entrepreneurs so that they can develop and create employment. It will eventually lead to rise in GDP and country will prosper and yeah we are definitely forgetting the backbone of our economy i.e. AGRICULTURE. Government is spending a lot but due to lack of education, corruption and awareness our farmers aren't able to utilize it properly.

So I think to make the wine fresh or keeping it with the pace of changing bottles we need to unite instead of the diversity which is our strength and work for each other. LIVE AND LET LIVE.

Hello everyone. I would like to share a few words about Indian economy and why its still lacking behind in achieving successful economy. I agree with many who have shared their views here that its mainly because inefficient utilization of the resources which we are gifted with.

We are unaware of human resource which we have and its a main strength of the country and its not directed properly. Good quality education is must to create awareness of all these and lead the nation in right way.

Agriculture is the backbone of our country it has to be improved using the modern technology. But our govt are giving minor priority to the agriculture sector. Mainly the politicians who rule the nation are corrupted and only running behind the money.

So we, the youths who are the present and future of our country has to think seriously about this have to educate our neighbors relatives each n everyone regarding the economic crisis we have been facing. We have the right to elect the good leader who can lead us in good direction and develop our nation in right way.