Observing the recent developments in India it becomes quite obvious that another myth collapses. Or in this case many. Being a member country of BRICS India's high population growth rates would be expected to also have beneficial effects for the population of the country. But this is far from the case.
After decades of dynamic growth 32.7% of all people in India still live in extreme poverty. With the international poverty line of US$ 1.25 per day and 68.7% of the population living on less than US$ 2 per day there are perhaps too many conclusions to be drawn. Considering the fact that since the early 1980's when India was upgraded to the status of emerging market, only 35 million people were able to come out of extreme poverty. Someone may think perhaps the number itself is too high, but such misinterpretation could only arise if one does not take into account the economic values of the “world's largest democracy”.The fact alone that from 1980 to 2010 the population of India has increased by more than half a billion people- from 700 million to 1.2 billion- is enough to point out the true scale of inequality. At the same time in China 678 million people came out of extreme poverty.
Thus , while India is estimated to have1/3 of the world's poor, is also home to the fifth largest group of billionaires in the world -58 of them are on the list of world's richest people. After decades of economic development and growth the wealth gap instead of reducing constantly increases .The population living in urban areas of India is growing rapidly. Already containing 17.5% of the world's population, India is projected to be the world's most populous country by 2025 (38 % of the population), surpassing China, -its population will be reaching 1.6 billion by 2050. This will result the further exacerbation of social contrasts and inequality. Low electrification rates and low training level of the incoming rural populations will result an everything but smooth integration of this specific group into civil structure.
Of course capitalism is not to blame for this situation but according to few the “structural weaknesses” of the Indian economy. According to the Finance Minister of India , the “Achilles heel” of the economy is the construction sector , which in addition to a number of other problems suffers from “the rigid binding recruitment and dismissal practices”. The liberalisation of massive dismissals (ie the complete deregulation of labor relations) is a key objective of the capital worldwide and not another obsessesion of some IMF bureaucrat's ...
Thus , while India is estimated to have1/3 of the world's poor, is also home to the fifth largest group of billionaires in the world -58 of them are on the list of world's richest people. After decades of economic development and growth the wealth gap instead of reducing constantly increases .The population living in urban areas of India is growing rapidly. Already containing 17.5% of the world's population, India is projected to be the world's most populous country by 2025 (38 % of the population), surpassing China, -its population will be reaching 1.6 billion by 2050. This will result the further exacerbation of social contrasts and inequality. Low electrification rates and low training level of the incoming rural populations will result an everything but smooth integration of this specific group into civil structure.
Of course capitalism is not to blame for this situation but according to few the “structural weaknesses” of the Indian economy. According to the Finance Minister of India , the “Achilles heel” of the economy is the construction sector , which in addition to a number of other problems suffers from “the rigid binding recruitment and dismissal practices”. The liberalisation of massive dismissals (ie the complete deregulation of labor relations) is a key objective of the capital worldwide and not another obsessesion of some IMF bureaucrat's ...