Indian Economy: Old Wine in New Bottle!

I agree with all of you, politics, new economic policies, new RBI governor all are playing a lead role in making India a country worth living but have you ever wondered about a country in which people can dream big. I am a student and can say that we are living in a world in which we are thinking about a secure live rather than a challenging one. Yes there is a need to change the old policies prevailing in India; now we the youths of new India have to come out of our shelter and show some bright light to our people.

We cannot change the world in one day, we can contribute step by step. Firstly we have to gain deep knowledge about the issues our India is suffering from and educate peoples to make them aware of their rights. Its high time and we need to gear up.

The topic of our discussion is "old wine in new bottle". I completely agree with the statement, as old wine indicates old model or method that getting updated by new infrastructure (new bottle). India having their strategies for upcoming years but also we are planning for long run goals which are in pip line and when that will be executed, we need to plan for next long run goal. So basically on going process and it will continue till we are not equal or more then developed countries.

Hi,

Though my friends have come up with good points to discuss in favor of the topic, I personally do not agree on Indian Economy being termed as old wine in a new bottle. A lot has changed in terms of economic plans, surely we have come up a long way from the time of independence. Infrastructural policies, educational reforms, foreign reserves and so on have contributed a great deal to help India develop and gain a global recognition.

Rather than discussing the politicians here, I think if we shift our focus to the development that has taken place in India so far we definitely cannot ignore the role played by the strong financial plans that were laid down by manmohan singh in 1990 or the measures that are being taken by the current RBI Governor Raghuram Rajan to curb inflation. Thank you.

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.

Indian economy is very bad because many poor people in India. Many children can't study because they are working. This situation was continue many years. Politician and some rich people does not help to poor people this is very sad news. When will the poverty decrease that time the Indian economy will peak increase.

I believe that mostly politicians ruling are old age people and we need a young politician with a unique thought of mind. But no chances are seem to having a capable, young and intelligent politician who can change our country's position. I feel that politicians in present time will not let such type of person come and stay in this field. They just concerned about how they can make money by ruling over nation. And they use their power on those people who can be threat for them in their mission "money making".

Dear friend,

As per my point of view Indian economy is totally depend on political aspect. We should keep in our mind economy is ultimately depend on political leader, if political leader will young n free from corruption then Indian economy will be so bright.

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.

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.

Indian economy is not in so bad condition, we as public have to do so much of thing like unemployable: jobs are there but right people is not there who can sit on the chair. Its not always government who is responsible for the condition. Of course public is also having some demerits.