It is predicted from recent news that india will grow 6.5% in 2016 and will surpass china's growth ( which will be 6.3% in 2016 ), Lets its be very clear that it is GDP Growth rate and not actual GDP. China's Per Capita income and GDP's Actual size is approximately 3 times the india's PCI/GDP .
We need to differentiate between Growth and development , India's growth not necessarily bring Development in india . China's growth in with job , human development and their social parameters way above india and thats the reason sometimes india's growth is called Jobless growth ( it is clear from the fact that in india from 2000 to 2005 , no new actual job created ).
Lets compare some Facts between India and China :-
1. India's per capital income ( GNI per capita in terms of PPP, 2011 in $ terms ) = 5450$
While China's PCI ( GNI per capita in terms of PPP, 2011 in $ terms ) = 11870$
2. India 's Literacy rate is 74% way behind China's 95% .
3. India' Infant mortality rate is 44 ( per thousand child births ) also way behind China's IMR only at 11 ( per thousand child births).
4. If you compare human development Index Ranking :- China ( ranked 91 with and HDI index of 0.784 ) is far superior than India ( with HDI rank of 135 out of 186 countries with an HDI index of 0.586 ) .
5.Indian People Life Expectancy at birth ( 66.4 Yrs ) is also way behind China 's Life expectancy of 75.3 Yrs .
6. India Leads Malnutrition Chart of south asia with about 1 million indian kids under 5 yrs of age die due to acute malnutrition .
7.India performed poorly in Gender Gap index with rank of 114 out of 142 countries (with Gender gap index of 0.6455 way behind China's Gender gap rank of 87 with gender gap index of 0.6830 ) in world economic forum -2014 gender gap index scoring below average on parameters like economic participation , education attainment and health and survival .
8. India is among 20 worst performing countries on the labour force participation , estimated earned income , literacy rate and sex ratio at birth indicators.
Although , recently new government is formed in india and growth rate is propelled by reform push by new government as can be seen form recent GDP growth projections , Stock markets peaks and investments pulling from many countries and domestic investments also growing .
India needs green growth strategy ( because its growth push in times when world is also facing Climate change ) . Recently GOI has announced of making 100 smart cities .urbanization is good when it will be done with infrastructure focus /investment in cleaner energy options / more focus on manufacturing because manufacturing can bring equitable growth opportunities . India 's growth was till now focus on Service only ( quite clear from the fact that india's agriculture growth rate was only 2-3 % in last decade when its manufacturing and service were growing at 6-8 % .
Agriculture sector in india contributes only 13.7% to GDP while it provides employement to more than 50 % of india's population.
China attained much of human development before it took ut on the path of growth , india on the other hand continues to rank low in human development indicators .
Steps That should be taken to a meaning and sustainable growth in india are :-
Poverty elimination should be the first goal of indian government ( and that is actually ), Growth needs to bring necessary development to essential parameters ( because growth alone cant bring development.
We need to change our mentality ( like in western countries money expenditure for social developments as Social expenditure while in india we call it SUBSIDY) .
We needs to focus on manufacturing ( by Skill developments of people , Government should make invisible investment in social parameters , govt. needs to spend more to provide better hygiene, better healthcare facilities and better sanitation ( Swachh Bharat mission is a good step taken by new govt.) and also to develop homes for indian people .
From recent reports , it is clear that slavery in india in form of trafekking is increasing , government needs to take appropriate steps to stop this.
We have 200 millions people below poverty line , 400 millions people vulnerable to poverty and on other hand we have huge middles class whose aspirations are increasing day by day and creating Demand at the domestic level itself , we dont need to go anywhere , world knows india better thats what brings many counties and welcoming our new government biggest mission MAKE IN INDIA .
In the end ,We can say that India needs Growth ( quite clear because growth will increase revenue and that will ultimately increase income which will increase demand ) but growth should be with development ( human development with social security to all class of indian people ) .
JAI HIND JAI BHARAT !!!!!!!!
We need to differentiate between Growth and development , India's growth not necessarily bring Development in india . China's growth in with job , human development and their social parameters way above india and thats the reason sometimes india's growth is called Jobless growth ( it is clear from the fact that in india from 2000 to 2005 , no new actual job created ).
Lets compare some Facts between India and China :-
1. India's per capital income ( GNI per capita in terms of PPP, 2011 in $ terms ) = 5450$
While China's PCI ( GNI per capita in terms of PPP, 2011 in $ terms ) = 11870$
2. India 's Literacy rate is 74% way behind China's 95% .
3. India' Infant mortality rate is 44 ( per thousand child births ) also way behind China's IMR only at 11 ( per thousand child births).
4. If you compare human development Index Ranking :- China ( ranked 91 with and HDI index of 0.784 ) is far superior than India ( with HDI rank of 135 out of 186 countries with an HDI index of 0.586 ) .
5.Indian People Life Expectancy at birth ( 66.4 Yrs ) is also way behind China 's Life expectancy of 75.3 Yrs .
6. India Leads Malnutrition Chart of south asia with about 1 million indian kids under 5 yrs of age die due to acute malnutrition .
7.India performed poorly in Gender Gap index with rank of 114 out of 142 countries (with Gender gap index of 0.6455 way behind China's Gender gap rank of 87 with gender gap index of 0.6830 ) in world economic forum -2014 gender gap index scoring below average on parameters like economic participation , education attainment and health and survival .
8. India is among 20 worst performing countries on the labour force participation , estimated earned income , literacy rate and sex ratio at birth indicators.
Although , recently new government is formed in india and growth rate is propelled by reform push by new government as can be seen form recent GDP growth projections , Stock markets peaks and investments pulling from many countries and domestic investments also growing .
India needs green growth strategy ( because its growth push in times when world is also facing Climate change ) . Recently GOI has announced of making 100 smart cities .urbanization is good when it will be done with infrastructure focus /investment in cleaner energy options / more focus on manufacturing because manufacturing can bring equitable growth opportunities . India 's growth was till now focus on Service only ( quite clear from the fact that india's agriculture growth rate was only 2-3 % in last decade when its manufacturing and service were growing at 6-8 % .
Agriculture sector in india contributes only 13.7% to GDP while it provides employement to more than 50 % of india's population.
China attained much of human development before it took ut on the path of growth , india on the other hand continues to rank low in human development indicators .
Steps That should be taken to a meaning and sustainable growth in india are :-
Poverty elimination should be the first goal of indian government ( and that is actually ), Growth needs to bring necessary development to essential parameters ( because growth alone cant bring development.
We need to change our mentality ( like in western countries money expenditure for social developments as Social expenditure while in india we call it SUBSIDY) .
We needs to focus on manufacturing ( by Skill developments of people , Government should make invisible investment in social parameters , govt. needs to spend more to provide better hygiene, better healthcare facilities and better sanitation ( Swachh Bharat mission is a good step taken by new govt.) and also to develop homes for indian people .
From recent reports , it is clear that slavery in india in form of trafekking is increasing , government needs to take appropriate steps to stop this.
We have 200 millions people below poverty line , 400 millions people vulnerable to poverty and on other hand we have huge middles class whose aspirations are increasing day by day and creating Demand at the domestic level itself , we dont need to go anywhere , world knows india better thats what brings many counties and welcoming our new government biggest mission MAKE IN INDIA .
In the end ,We can say that India needs Growth ( quite clear because growth will increase revenue and that will ultimately increase income which will increase demand ) but growth should be with development ( human development with social security to all class of indian people ) .
JAI HIND JAI BHARAT !!!!!!!!
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