Inclusive growth

We as a nation boast on robust economic growth but isn’t’ our growth superficial and peripheral or have we achieved an all Inclusive growth

Economic Growth

Wealth of High net worth individuals soared drastically even though we have not fully recovered from the downturn. With economy knocking 8-10% growth rate rich yet got richer but contrary life has not changed much for a big chunk of peoples for whom the struggle for bread& butter is a never ending battle.

Unemployment

Villagers seeking better life; migrate to the cities, adding inorganic element to the growth of cities; in form of slums and load on the resources like potable water, energy, housing, sanitation and transportation. Unavailability of accommodation results in slums wherein many people share the resources, life in such slums is really harrowing and living condition extremely difficult.

Gender equality

Many of the unemployed migrated workers work on pity jobs like construction sites carrying all sorts of head load and with there children play around the site. Nursing mother taking out time in between to feed there babies and such breaks results in lower pay scale as compared to there counterparts males. Moreover women are seen as physically weaker then men and compromises on wages as compared to men.

Socio economic

Gap between rich and poor is widening, we boast on increased number of millionaires on y-o-y basis; implicitly we mean that in increase in number of poor on y-o-y basis. One side we have plush residential complexes with all the amenities and lavishness; also we have people who stay on pavement, huts on the other side, striving to meet there ends meet

Infrastructure

Overcrowded cities with denizens having higher disposable income putting a lot of load on infrastructure. Rapidly growing cities attracts lot number of people to participate in the growth story and be a part of growth as a result of which cities are running short of roads, portable water, power and hygiene, demand of power, water is constantly increasing and we are always in deficit to meet the demands.

Conclusions: Looking at this I think that the numbers can be indicators for the external world to show that we are not only alive but are growing; but these numbers do not justify growth in its entirety and are not all inclusive.

Image Source: economic-growth.info

How Monsoon can affect my country

Monsoon directly impacts economy because it directly impacts the agriculture (an important segment of the economy) because:

· Agriculture contributes to a one forth of the GDP.
· Agriculture provides raw materials to a fifth of the industry.
· Generate demand for industrial goods.
· Nearly 40 per cent of the manufactured consumer goods are sold in rural areas.
· 60% of the population depends on agriculture for livelihood.

A fall in agricultural production therefore leads to a fall in industrial output. The timely arrival of the monsoon and sufficient rains are thus key for India's economic growth because farmers' success depends heavily on the monsoon rains. Though new growth drivers have emerged in the Indian economy still agriculture is likely to play a very significant role in incremental growth as it did in the past. Indian Economy can absorb the shock of poor rain but it is not immune to. We need to find alternative ways to immunize.

In the time of global meltdown where we are already struggling to increase demand and consumption, and keeping fingers crossed to see a GDP between 7-8% a bad monsoon can drag the figures to 5-6%. Analysts worry that bad monsoon could be even worse for the economy this year.

Some states are already facing a drought like situation, even drinking water is getting supplied only once in ten days. When there is such a scarcity of water there is no question and point discussing water availability for the irrigation purpose and this is a bad news for agriculture and especially to the small farmers.

Some farmers have already tilled their lands and sown their seeds and if rain gets deferred, their seeds will dry up and when the rains do come, the farmer may not be left with any more seeds to cultivate.

Food production will be affected and after three years of good monsoons, a dry spell could spell disaster for a recession-hit Indian economy, with lower food production the prices of agricultural commodities will shoot up.

Indian Two-thirds of the population lives in rural areas and is, directly or indirectly, dependent on the agriculture sector. With failure of crop and lower rainfall more and more rural population will be shifting to urban base and will create a pressure on the overall system.
FMCGs, textile industries, agricultural good industries, industrial goods sell about one-third of their total products in rural areas. A fall in rural income, following a bad monsoon, can substantially change their fate.

According to the Noble report on Indian FMCGs, HUL, 50 per cent of its revenues comes from rural India, while it is 45 per cent for Dabur, 35 per cent for Colgate Palmolive, 30-35 per cent for Godrej Consumer products and 25 per cent for Marico.Falling income from bad crops means that lower demand, lower GDP and a higher draft on available government resources on account of relief measures and in this time of crises government would not be ready for another relief package for the farmers.

A bad monsoon will impact us in many ways and I would like to give a wake up call to save water, plant trees, go echo friendly and reduce carbon emission.

Sources:
http://www.valuenotes.com/
http://ibnlive.in.com/
http://www.deccanchronicle.com/
http://www.financialexpress.com/
http://www.koi-hai.com/gowrimohanakrishnan.html