GOOD GDP BAD ECONOMICS

GOOD GDP , BAD ECONOMICS

A high rate or even a good rate of increase in GDP and PCI is claimed as a sign of booming economy. This is a plea given by Indian Power elites and this is been advertised by Godi media. But is it true that even when this may be true it is of no good use for future of India's political economy? Propaganda are always eye catching which fix the people to think in a particular way. But what you see when you keep your eys open you see entirely different scene. 

    You dont need to be a trained economist or even a knower of macroeconomics. Simple common sense and open mind are two pre requisits to understand. If it is true that GDP and PCI are increasing its is also true that unemployment is also increasing and population is in the same way has increasing trend(though now the rate is more or less satisfactory). What does it mean?. 

    1. Increasing unemployment means less and less people have opportunities for earning for a fixed period leadinh to decline in purchasing capacity and so decline in consumption rate.

    2. But it is claimed that GDP is increasing. If GDP is increasing withour corresponding increase in job and employment this means growth is taking place in a small circle of affluents and most are out of this circle.

    3. It is also claimed that PCI is increasing. This means people's earning is increasing. If most people di not get access to meaningful job and employment opportunities it is clear that earning of  people of that small circle is increasing very much and their income rise is compensating for other's loss .

    4. Even if we leave other major indicators like price rise, inflation, interst rate, Consumption Index etc it is clear that whatever growth is taking place it is taking place within a small circle benifitting a small percentage of population and most are not getting benifits of this growth.

    5. This situation is respinsible for rapid rise in inequality  and even the government own data in form of MPI as published by the Niti Ayog reveals this.

    6. Thus Indian growth story is a growth story of selected affluents. Or you also conclude by going through the real stories that Indian growth story is the growth story of cronies and general middle and lower classes have nithing to do this story.

    7. This unequal growth is no doubt creating vast inequality which has potential to brust as some major social unrest and polutical upheavels as history shows us that whenever elites become too rich at the expense of masses that civilization invariably falls under the weight of its elites.

    8. Many people may argue that despite inequality society is at peace as people have faith in our system, in the New India and in the Government. Of course this arguments seems to be solid as this argument has political backing also as election results of national elections have shown that people are hopeful for furure and they have no grudge against inequality. Rather common masses are ready to endorse inequality of income and consumption for the bigger cause of nation buliding  akka for the sake of becoming Vishwaguru.

    9. But this is not reality. Its not a question of pure economics. Politics has its own role. The gap created by inequality is being filled by communal tensions, fake news and hate spoech & hate actions. Failure at the front of job market is being compensated by arousing communal tensions all over the country by prpagandist fake news and hate crimes. Vigilantism has been let loose and people who are at the receiving end of economic failures are being increasingly engaged in communal franzies . This is a design to keep people away from economic hardships which they suffer. If someone wants to sense the heat he or she may become a membet of such any  whatsapp group and he or she will start getting all sorts of communally framed fake and hate news/speeches 24×7.

    10. But such fake things have their own age. They have to subside as people can not avoid real problems for long. You can defer anything but not hunger for a long time. This will create a very disturbed social tension. Because of communal franzy and hateful fake enviornment social fabric is already torn in India and a slight push may cause seismic disturbances. 

         We have entered into a socio economic seismic zone and if economy is not going to be designed to create meaningful earning we may soon witness one of the most disturbing moments in the world history. Dont forget the reality that we are the largest nation population wise. We are not small like European or African countries so our upheavels will also be enormous.