Every other business paper and news channel would flaunt a story on booming Indian economy nowadays and if we look around, it is actually booming. In fact, it is overwhelming, compare it to the old days of chitrahaar/rangoli's. What was the best known individual salaries to us? when could one think of buying a house or a car ?

So, India is really booming!

There is another side of the story as well. Surely, its booming but what and where has this led to? Has anybody sensed power centers building up in our economy in last few years? Have you heard Ambanis, Tatas, Mallayas, ICICIs getting richer multifold everyday? So what's really going on?
True, the economy is booming, but who is getting benefit of the turnaround of the elephant? (moreover, Mallayas are now in Parliament making laws & policies!)

Now when you buy a house, ICICIs get richer by the same or more amount; when you buy a car they again get richer; the Ambanis gets richer when you play stocks and Mallayas gets richer every Friday night! And rest to the builders, brokers..and who not in a "Metro".

Point is not that they are getting richer, point is - is the prosperity coming out of this boom?

The economy boom lands up everybody around a metro trap where everybody would try to suck the last penny out of you while you are earning multifold what your parents might have expected. At the same time the small towns remain the same - untouched of the economic booms except for the new generation moved away to some metro for "prosperity".

So right now, what this economy boom means to us?

• Development of Metros
• Artificial price escalations -> High costs of living -> need creation ->Economic power centers

while the "other" India simply watches and appreciates the fancies of metros.

The need today is to have a uniform development throughout India and try to eliminate the "move out of small town" syndrome. Uniform development would also eliminate the need to overcome problems and nuisances of the metros. Fortunately, now with the support of the technologies and infrastructure, it is quire possible.

The IT boom - with the help of technologies companies can surely minimize this tendency and can have centers around small towns or even people working from home anywhere within India. Now we could have a uniform development in true sense where the cash flow is uniform across India.

Imagine what could an IT company of , say, as small as 20 people strength, could offer to a small town. The people could actually be able to see and touch the development. The cash would flow from economy to IT to the local employees and vendors (the chaiwallas, the cab drivers, the admin, the housekeeping) and moreover the money is not coming from government's pocket. This would also be most cost effective setup for companies as compared to in metros. And with less nuisances like - traffic, pollution, high rates etc.

Similarly, an agricultural boom could be induced uniformly by inviting corporate shares (shared with the farmer, always) in the sector. I am sure this would be the greatest success. Where farming is not possible, need is to look at the local businesses and provide global reach through corporate, education etc.

Only then we could have a developed India!


(apologies for writing the article in a rush and in haphazard structure)

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Will tell you later  - Re:   |18-05-2008 09:59:12 Baaten to achchhi hain but isme communism ki boo aa rahee hai... Mallya aur Ambani rich ho rahe hain to usme unko koi dosh nahi hai... nor they are obligated to work towards the society (although some of them actually do). It is the responsibility of the government to maintain equilibrium. baaki sab theek hai, bus mai yahi kahna chahta tha ki sab log ek status pe kabhi nahi aa sakte, haan gap zaroor kam hona chahiye. Reply 0   1 Prashant Parashar  - Re:   |18-05-2008 12:30:22 Need to read the full article to comment on it as communism. Just want to clarify my position. The crux of the article is - uniform development and efficient governance. (communism in fact, never came to my mind while writing the article) Reply 0   0 Powered by !JoomlaComment 3.23

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