East Asia United
FULL MEMBER
- Joined
- Aug 21, 2012
- Messages
- 483
- Reaction score
- 2
ahh so now you are talking about the intellectual discourse of Indians!well then you better should talk to me as first of all i wanna see your intellectual level..
man believe it or not but the Indian economy (though it has been going through a slowdown for the past couple of years) is still growing @5% each year (that's equivalent to about $100 billions) and this year the prediction is that we'll grow at around 5.5-5.8%.well from the international point of view its actually way above the average growth.
First of all, 5% growth is not really 5% growth if the rupee depreciates to the point that it is negating the real GDP growth rate of the country.
For example, India is indeed (optimistically) projected to grow at 5.5%-6% for 2013, but the rupee depreciation has led the IMF to publish numbers that project a net GDP decrease for India in 2013.
When you are a poor country with a budget deficit worth 5% of GDP, a total public debt reaching 70% of GDP (higher than any emerging economy), and a trade deficit that is the 2nd worst on Earth, you should not expect your economy to do good.
And your foreign reserves, worth approx. $300 billion in 2012 dollars, can't stem the tide for long. India is collapsing because she has a huge population with very low technical skills. Other than the few islands of programming – in reality, much of which is actually pretty low-level stuff – and widespread knowledge of the English language (which makes India a good destination for call centers but not much else), there is nothing else that will push India into further high-paced growth.
The low quality of Indians human capital reveals the “demographic dividend” that India is supposed to enjoy in the coming decades is a wild fantasy. A large cohort of young people is worse than useless when most of them are functionally illiterate and innumerate; instead of fostering well-compensated jobs that drive productivity forwards, they will form reservoirs of poverty and potential instability.
Are you certain that you are a human being ? 
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