Indian Economy: Old Wine in 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.

Now in India, Thuglak rules following by our politicians because:

1]. (in karnataka) rice is selling to poor people at Rs.1 per kg. From this, people will not think about their livelihood. They will not work efficiently.

2]. Not necessary to announcing the act of food safety act in this situation.

3]. Reducing the foreign trade and develop the rural factory products.

4]. Peoples have to keep their petroleum based vehicles in their home and use cycles for work.

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.

Hi friends. In my point of view Indian economy is bad, Because INDIAN peoples studied well but they went outside countries for earn money. If they live here they will use their skills and improve the economy of INDIA. In INDIA so many talented peoples was there but they exhibit a great talent in foreign countries, if they did like that foreign countries were improved but our country was not developed.

And also in Indian education mostly preferred for categories. So many talented peoples are not going to higher studies and also not getting seats in good colleges.

Politicians are not help for poor peoples, they are helped only rich peoples. They will do in this way rich peoples are becoming rich. Poor peoples are not developed.

So I concluded peoples once think about it what you are, what you want, what you have to do as a INDIAN.

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.

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.

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.

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.

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".