Is India Really Shinning

Is India Really Shinning

  • Submitted By: vibha
  • Date Submitted: 03/17/2009 10:09 AM
  • Category: Social Issues
  • Words: 709
  • Page: 3
  • Views: 901

GDP growth is estimated at a stunning 8 percent-plus.

Foreign exchange reserves are at over $103 billion.

The stockmarket is going through the roof.

Check out the mushrooming malls, improving telecom connectivity, booming industry.

A great monsoon last year has heralded greater growth.

The government has ambitious plans to link rivers, to build superhighways -- both concrete and wireless, criss-crossing the nation.

A South Asia Free Trade Agreement has been created.

Plus radical economic and strategic pacts with the United States, the European Union, and Southeast Asia.

There is no better time to be an Indian, declares Prime Minister Atal Bihari Vajpayee.

The nationwide media blitz -- India Shining -- would have us believe that we are now looking at a resurgent India, an economic and military powerhouse striding firmly towards its rightful place in the world.

But there are many who disagree.

Global corporations cite corruption, red tape, high inflation, poor laws and an infirm infrastructure as reasons for their not wishing to invest in India.hey demanded that substantial government funds be invested in economic services and activities to generate jobs, increase farm productivity and enable the country to achieve food self-sufficiency.

Arze Glipo, TFFS lead convener, said the continuing rise in food prices will certainly increase the number of hungry Filipinos. TFFS is a national network of food-security advocates composed of farmer leaders, NGO representatives and other members of civil society.

According to Glipo, the financial crisis is leading to a global economic recession, where forecasts of factory closures, including decreased trade, will render millions of Filipinos jobless in the next few months.

“This may mean more hunger and impoverishment for an increasing percentage of our population,” Glipo said.

“The 2009 national budget is an opportunity for Congress and the Arroyo government to confront...

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