INDIAN ECONOMY AT A GLANCE: my notes

INDIAN ECONOMY AT A GLANCE: my notes
1.ONE INDIA on WAY TO SUPER POWER OR INDIA -2020
THIS is the dream of all Indian. Whether we call this picture of India Shining as Paramvaibhav, or Climax of Glory as Thengadi has said in Third Way or India 2020 by APJ Abdul klam, there is a pointer of one thing. For India on way to becoming a SUPER POWER 20 examples are given and four areas covered,(1) Agriculture, (2) IT, and (3)Space Research, and Youth power. And then again three examples of our supremacy are given in different fields.
2. Was INDIA a Golden Bird or World Guru at any time. :
ONCE A GOLDEN BIRD Is it the first time to our prosperity or our track record also is such: P /Chidambaram chiding india never a prosperous country, Foreign writers and traveler of yore and at presents also Meddison, and what Kalam sahib has told us. As lso told that how English people looted us in several ways, 8 examples of their plunder were given (However examples FromDesher Gatha, Dharampal and Delrymple should be quoted.
3.Our Positives on the Bases of Which India Will become a SUER POWER: Our positive points POTENTIALS are six: one Increasing Youth power, two, Family System, 3. Intellectual power and deep study,4.Economy is Based on inner demand,5.Enterepreneruship of world class, 6. Natural resources
4. Our Challenges or weaknesses are also seven: (1)Inequality, 2.Unemployment, 3. Poor Agriculture, fourth; Black Money and Coruption and fifth Retail sector in poor shape;
5. And to remove these weaknesses Our preferences are five, Food Security or food for All, second Human Resource improvement or Education, 3. Employment to All, 4. Health for all 5. Infrastructure. (SIMILARLY IF THE ISSUE OF energy IS ALSO AS IMPORTANT FOR India.
6. Present GLOBAL SCENERIO 1. WTO and FTA, 2. American Global Financial Crisis; (Chinese Threat)
7. WHICH WAY INDIA SHOULD ADOPT: The wish of the people was Swadeshi, 2. Socialistic pattern after independence, Globalisation and India, Indian Economic Thought in history, 4. Gandhi, Deendayal ad and Thengadi ji.
8. Role of the Youth in the National Reconstruction.
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1. Chapter one: India on the way to becoming a WORLD SUPER POWER
1. The dream of all the patriots and martyrs was India should become a super power; Bhagat Singh, Rajguru and Sukhdev,, and their quotations in this regards to be selected and poetic exerpts to be selected.
2. Swami Vivekanand was a visionary and prophetic and his prophecies cannot be false: I am seeing that Bharatmata is again rising to its pristine glory and is ascending the Vishwaguru Throne.”
3. Yogiraj Arvind again prophesized the same wording and similar said Swami Ram Tirth
4. King of Youth, APJ Abdul Kalam, hopes similarly about his concept of India 2020. So WILL. IT REMAIN A DREAM OR A DAYLIGHT REALITY?
5. What Obama is saying today may be much like Krishana’s speech in the other country where he was reading Purtugese FM letter, saying opening is usually the same: but he has said it on other occasions as well, the time he has spent n our country, and similar is the state of affairs in all the world level conferences.
6. IMF report sayis that Indian GDP $35,26,124 MILLIONS and it is fourth in no. to the world level countries: America: $1,42,56,275 ms, Chinse: $ 90,46,990 and Japan’s $41,59,432. India has left behind economies of developed countries like Germany, England, and other big European countries.
7. The ratio in GDP IS : 55% services, 28% Industry, 17% agriculture,,
8. Our Growth rate is 8.8% and second fastest after China which is 10.5%, whereas big countries are facing a meltdown effect as America: 2.5%, Japan: 0.9% England 0.8% Germany 0.7% and Russia: 2.7%. Due to this Depression: China to came from 13 to 6% but India sustained. It appears wonder that 7% growth rate is maintained > 60-70: 3.5%, 80 to 90 5.4%, 90-2000: 4.4% 2000-09: 6.4% .
9. the role of Industrial products is 12% and Mining: 9% though agriculture is a merely 2.8%
10. PER CAPITA INCOME: 02-03: 19,040, 3-4 20,989, 4-5 23,241, 08-09: 37,490 whereas in 09-10 Rs.46,492 (on 23-2-11) Ashwani Kumar State Planning Minister told the Loksabha.
11. Goldman Sach: in its report India’s Rising Growth Potential: 8% growth is expected by India 2020 and by 2050 it will left America behind and will be next only to China. Report says that in 13 years 2007-2020 India’s growth will increase by FOUR TIMES, Following reasons assigned the report for this rise: 1. Increase in Youth power, increasing urban population, expert mechanics, IT based economy.
12. INDUSTRIAL PRODCTION: 8.2% IN 2009 AND India’s place was 9th in the world list, From April-August 2010, it rose to 10.6%. Good example of Car Industry: 2009 in first six months India EXPORTED 20% more cars than China. Besides India’s domestic demand for cars is also increasing by 30% annually. Tata produced the cheapest Nano for the world. And after that Ford, and other companies are vying with each other to make India a hub for small cars.
13. In two-wheelers too India is producing 10 lack motor-cycles are purchased monthly.
14. In the last four years: 2005-9 indian entrepreneurs have acquired 800 foreign companies and even symbolic East India company too was purchased by an Indian, leaving aside the purchase of famous Jaguar motors and Korus by Tata. Lakshmi Mittal too.
15. INDIANS HOLDING HIGH POSTS IN WORLD:Indians are sitting atop at least 50 American companies: Indira Nui of PepsiCo’s chairman, Vikram Pandit of CITI bank CEO, to toe it out of depression mire, Rajat Gupta CEO of McKinsy, Vinod Khosla is considered one of five top Venture Capitalist of America.
16. AGRICULTURE; Though not so much progress, even then largest exporter of agricultural products. Rice, Wheat, Sugar, cotton, silk, second largest producer of the world, AND LARGEST PRODUCERS OF milk, kaju narial , tea turmeric adarakh, and kali mirch. Largest grower of fruits, and almost 10% produced here. 3rd largest producer of fish.
17. IT SECTOR: IN 2006-7, 4.8%but in 2008 it 7% , and world’s largest 15 companies of outsoursing 8 are Indians. In IT sector india earned $600 cror in 2009 and upto 2020 expected upto $2250. In mobile industry too 10-15 lakh mobiles are purchased every year,and total number of connection has touched the 50cr mark, and half of this number is in the rural area. India has sold about 6 cr. Mobiles to the about 60 countries by this time and the number is expected to reach 25 crores by 2012.( It is other thing that the numberof mobile phones has exceeded the total number of latrines n this country.)
18. SPACE TECHNOLOGY: $ 7.5 cr expenditure on Chandrayan 1, and searched water in Moon, and NASA expressed its happiness by conducting a Press Conference on this event. @20% less expenditure than any of such efforts. And became the sixth member of the Lunar Club besides America, Russia, China, Japan and European U.
19. Our Debts are half of China: but growth rate is not so less, highest saving society of the world
INDIA – GOLDEN BIRD OF YORE
First thing to see, whether the way to prosperity is an abrupt phenomenon or an inherent quality. Acc. To some people India never tasted prosperity in the past but mostly people think that it is the inherent quality of India to become superpower and it was a super power previously as well.
1.A few years ago present Home Minister said in a programme in Oxford University ? that it is a myth that India was a rich country in the past, and that whatever prosperity we are witnessing it is only in the present. Perhaps he also advised that such mythical books which show such myths should be burnt and he also published a new book of his own.
2. Angus Meddison’s world famous book: The World Economy: A Millenial Perspective: in the first century the total share of GDP of india was 32.9% and by 100 remained 28.9% and was followed by China and France. It is strange that upto now this ratio has not been acquired by any country that one third of the whole of world GDP coming from a single country. In the second edition of the book the data was corroborated to be true. (GURU DATA) .” The next book “The World Economy: Historical Statistics” by Angus Maddison (published in 2004 by the Organisation for Economic Co-operation and Development) affirmed what his earlier book on world economy had asserted about India as the lead economy of the world.

3.The Wikipedia adds, “Among other things, it (Maddison’s new book) confirms Adam Smith’s view that China and India were at a level with Europe in the late 18th century, but also static whereas Europe was fast progressing.”

4. Even in the Mughal period which is so called: India’s had controlled 25%whereas Britishers controlled only 2% of world trade.

5.One of the oldest dams of the world was made by Chol kings and agricultural products were surplus, and similarly diamond, textile, leather, trade was prospering and india’s exports increased by leaps and bounds. This attracted the foreigner to attack india.

5. Mehmud Gajni 6,00,98,300 Dirham were looted from India which included 20-20 crore dirham from Somnath and Kannauj. In 1398 Temurlang looted delhi and north, but at that time also the kingdoms of Bengal, Gujarat and Vijaynagar were at their peak. Vijaynagar was considered the best organised city of the world at that time- a so many foreign travellers explained this.
6. Babar in his Babarnama writes about the prosperity, that the country was full with grains and other products. In the 16th century Mughal period, 24.5% portion of the world trade india was second to China. Even Akbar’s period India was well above British.

7. Gandhian Thinker Dharampal had done a lot of research on India’s condition before the arrival of Britishers in his book The Beautiful Tree.He explains that in the prosperity of India at that time the biggest share was of our scientific agricultural practices.Britishers appointed an agricultural expert Albert Harward from their country and after spending so much time in India doing research here became a fan of Indian agricultural system. In his book “An Agricultural Testament he says that we have nothing to teach India in agriculture bt rather we can learn a lot from it. He described different techniques adopted in different parts of India.

8. How Britishers reversed the prosperity Trend: From 1775to 1825 in the 50 years East India Company started the new taxation system which oozed every penny from India. By 1800 the Company started collecting 11,000 dollars from India, which was mostly used for wars with Nepolean. With India’s loot they started the industrial revolution in their country and by 1850 eminent economist Inderjit Roy says that 30% of India was importing British cloth which affected badly 28%textile production of our country.

9. By 1860 more than five and half lakh (5,63,000) people became unemployed in our country. One by one restrictions were imposed in our industries and agricultural products and our prosperity was destroyed due to British policies one by one.(hundred percent agricultural tax and indiscriminate tariff policy shattered India’s economy)

10. Famous economist Ramesh Chandra Dutta held English defence expenditure, royal extravaganza of officers and its burden on India the real cause of India’s poverty. India was the solitary example which has to borne the expenditure of Company’s attack on it, as well as Britishers attacks to Persia, tibbet and Afganstan, China, Sudan and Egypt – all were to be borne by India.

11. Famous Historian William Digby in his book Prosperous India: in 19th century took away 4,25,561 crore rupees from India. Salisbury, the Secretary of States said: As India must be bled, it must be done judiciously. So b 1925 Britishers income from India reached 12.5 crore dollars.

12. Due to Zamndari system heavy taxes were imposed on agriculture, and by 1925 instead of an exporting country india started importing foodgrains. (Desher Gatha and famines in India data.). 1929 internation depression hit India badly and taxed salt also which persuaded Gandhi for his well-known Dandi Yatra.
13. British Parliamentarian Edmund Burke disrobed this loot well.(Dell Rymple and Koenrad Elst)

13.Dadabhai Nauroji exposition of economic drain theory.

14. When all the authors, Britishers as well as Indian lament the loot of India by Britishers, strange thing that Dr Manmohan Singh eulogises the role of Britishers in British Parliament and thanked them for their contribution to India in the colonial rule.

15. In 1700 BC India’s contribution in the worlds income was 24.4% whereas the whole of Eruope was a slightly les 3.8% but after 200 years of british rule India’s portion came to a mere 3.8% in 1952 after gaining Independence.

16. by historian William Dalrymple in Time Asia (
In 1600, when the East India Company was founded, Britain was generating 1.8% of the world's GDP, while India was producing 22.5%. By 1870, at the peak of the Raj, Britain was generating 9.1%, while India had been reduced for the first time to the epitome of a Third World nation, a symbol across the globe of famine, poverty and deprivation.
In hindsight, what is happening today with the rise of India and China is not some miraculous novelty — as it is usually depicted in the Western press — so much as a return to the traditional pattern of global trade in the medieval and ancient world ...
17. How it is that Prime Minister Man Mohan Singh praised in the Oxford lecture the britishers legacy saying exactly An honorary degree of doctorate was to be conferred by that University where he has studied previously his Alma meter: 'Our notions of the rule of law, of a constitutional government, of a free press, of a professional civil service, of modern universities and research laboratories have all been fashioned in the crucible where an age old civilisation of India met the dominant empire of the day. These are all elements which we still value and cherish. Our judiciary, our legal system, our bureaucracy and our police are all great institutions, derived from British-Indian administration and they have served our country exceedingly well.