POVERTY IN INDIA

POVERTY IN INDIA IS A PROBLEM SINCE DADABHAI NAROJI IN 1860S CALCULATED THAT EACH YEAR 2 % OF INDIA'S GDP WAS GOING OVER TO BRITAIN IN FORMS OF RAW MATERIAL.BY 1950 MORE THAT 50% OF OUR INDIAN POPULATION LIVED BELOW THE POVERTY LINE.IN 1979,INDIAN PLANNING COMMISSION-YOJNA BHAWAN PUT IN THAT 2400 CALORIES TAKEN BY PER PERSON PER CAPITA PER DAY IN RURAL AREAS AND 1800 CALORIES IN URBAN AREAS PER PERSON PER DAY.THENCAME THE LPG ECONOMIC REFORMS ERA IN JULY 1991 WHEN WE WERE AS A NATION TO DEFAULT ON A DEBT TRAP HOWEVER WE AVOIDED IT BY RECEIVIND BOP DEFICIT LOAN OF $650 MILLION FROM IMF AND GRANTS TO BUILD OUR SOCIAL INFRASTRUCURE FROM WORLD BANK.CONCERN WAS IN 130 NATION WE HAD THE REFORMS SCENARIO IMPLEMENTED FISCAL DEFICIT,REVENUE DEFICIT,CURRENT ACCOUNT DEFICIT-CAD,IT WAS MENTIONED IN THE WORLD DEVELOPMENT REPORT-1991 FROM THE WORLD BANK HOW COUNTRIES IN CRISIS TIMES DEVELOP AND IN REFORMS POVERTY INCREASES BUT LATER ON DECREASES.HOWEVER,THIS DEBATE OF INCREASE OR DECREASE OF POVERTY IN INDIA AFTER REFORMS STILL CONTINUES AND THE ECONOMIC REVIEW OF GOVERNMENT OF INDIA SAYS THAT 25% OF POPULATION IN INDIA IS BELOW THE POVERTY LINE-BPL WHILE PRIVATE CONSULTANCY ORGANIZATION'S LIKE PROF SURJIT BHALLA'S OXUS BELIEVES THAT 40% OF INDIA'S POPULATION IS BELOW BPL.THIS IS A CHALLENGE TO BE SOLVED BY ENTREPRENEURSHIP,LEADERSHIP,RISK TAKING,EDUCATION,POSITIVE MENTAL ATTITUDE-PMA,TOTAL MOTIVATION FOR PROACTIVITY,SYNERGY,PRIVATE INITIATIVE,MICROFINANCE AS DONE BY GRAMEEN BANK WITH MOHD YUNUS OF BANGLADESH GETTING THE NOBEL PEACE PRIZE IN 2006,WELFARE ECONOMICS-PROF AMARTYA SEN -INCREASING THE WELFARE OF EVERYBODY BUT NOT DECREASING THE WELFARE OF ANYBODY-RISE OF MERIT GOODS SOCIAL GOODS AND PUBLIC GOODS.CREATING A GOOD ENVIRONMENT FOR BUSINESS NOT HAVING OIL MAFIA WHICH MIXED KEROSENE WITH PETROL AND DEISEL AND WHEN CAUGHT BY MANJUNATH SHANMUGAM OF INDIAN OIL CORPORATION-IOC-THE MAFIA KILLED HIM IN 2005 THE CASE CONTINUES.POVERTY BREEDS POVERTY.PROSPERITY BREEDS PROSPERITY.HUMAN WILL AND ATTITUDE PLAYS A BIG VARIABLE.I CHANE THE RAGNER NURKSE 1958 VICIOUS CIRCLE OF POVERTY THEORY FROM LOW INVESTMENT,LOW SAVINGS,LOW INCOME,LOW CONSUMPTION TO REVERSE GEAR HIGH SPEED TOP GEAR THAT HIGH INVESTMENT TO HIGH SAVING TO HIGH CONSUMPTION TO HIGH INCOME LEVELS WHICH I CALL IT THE VICIOUS CIRCLE OF PROSPERITY.WE HAVE GOT TO ATTAIN THIS LOGIC TO BREAK THE SCENE OF POVERTY TO BE NO.1 ECONOMY OF THE WORLD PUTTING CHINA BEHIND BY 2050 AS FORECASTED BY GOLDMAN SACHS INVESTMENT BANKERS WORLWIDE.