Stock Market Brief Deck for "this does not happen often".pdf
Engish fat
1. NAME: SHASWAT AGARWAL
REG NO.: 18BEM0013
COURSE CODE: ENG1011
COURSE TITLE: ENGLISH FOR ENGINEERS
SLOT: L -7/8/21/22
2. WHY INDIA IS STILL A DEVELOPING
COUNTRY
India is one of the oldest inhabitant lands of the world. Whole
world knows about the Indus valley civilisation and value its
cultural heritage. India was once the richest country in the
world. The fact that she has always been the cynosure of all
eyes, Asiatic or European, that people of less favored climes
have always cast longing looks on her glittering treasures, and
that the ambition of all conquerors has been to possess India,
prove that she has been reputed to be the richest country in
the world. Her sunny climate, unrivalled fertility, matchless
mineral resources and world-wide exports in ancient times
helped to accumulate in her bosom the wealth which made
her the happy hunting grounds of adventurers and
conquerors.
3. As we can see from the comparison above that the decline in the economy of
India started in the late 18th century. That was the time when British Raj
started in India.
So, is it correct to say that the past 200 years before the independence was
the reason why India is still not among the developed nations or is it
something else?
But before discussing this, it is important to understand what a developed
nation means? What it takes to be developed? And where does India stand
today in the world?
4. A developed country, industrialized country, more developed country,
or more economically developed country (MEDC), is a sovereign
state that has a developed economy and advanced technological
infrastructure relative to other less industrialized nations. Most
commonly, the criteria for evaluating the degree of economic
development are gross domestic product (GDP), gross national
product(GNP), the per capita income, level of industrialization, amount of
widespread infrastructure and general standard of living. Developed
countries have generally post-industrial economies, meaning the service
sector provides more wealth than the industrial sector.
According to the above definition, country with good economy should be
considered as developed. And according to another data, India, as of July
2018, ranks sixth position among the world. Also GDP of India is growing
at the world’s best rate of 7.3%. So if India has such a strong economic
background, why is she not a developed country?
5. • What makes a country truly eligible to be termed a developed
nation is not an impressive economy alone. It covers a wide
spectrum of human development indices in areas ranging from
freedom from hunger, poverty and unemployment, social welfare,
education, healthcare, gender equality, child mortality, freedom
from religious oppression, etc. High forex reserves and business-
friendly environment help but are not directly proportional to
sound human development indices in crucial areas such as the ones
mentioned above. A country can be very rich but still not be called a
developed country. An example can be of the middle east countries.
They are huge economies, but still their names never come when
we talk about developed countries. This is because of the other
factors mentioned earlier.
• There are many reasons for India to be only a developing country.
6. Very high income inequality
• Maharashtra boasts that it's the richest state in India in terms of
GDP per capita. But I doubt that. If we ask Ambani's family, Salman
Khan and Sachin Tendulkar to migrate to Bihar, then probably Bihar
could become the richest state. According to World bank, any one
living with less than 2US$ a day is deemed to be struck with
poverty and according to that statistics, over 80% (or
approximately 800 million) people live with income of < 100 Rs a
day. What did the government do to uplift them? I fear none. But,
Yes, it did one smart Math. According to India, anyone earning less
that 0.4$ a day (15Rs a day) is deemed to be poverty struck and by
this figure, only 30% of Indians are poor. This 0.4$ is calculated
using nominal GDP by India. But owing to very high
inflation nominal GDP figures is often misleading. Infact India is
third richest (richer than Japan) country in terms of nominal GDP
which shows the extent of mislead nominal GDP calculations can
have.
7. Lack of Population Control
• China has a one child policy in place to
control population. They understood the
negatives of a high population. We are nearly
90% of Chinese population yet our land area is
like one-third of China and still our
government does not bring in any reforms
here. Indian men must respect women and
our country must improve on female is to
male ratio. Girls should be permitted to born
and live after birth.
8. 100% Tolerance
• Even though events like the 26/11 Mumbai
attacks happen almost every year, we are
unperturbed. We have not retaliated. We have
rejuvenated our non-violent stance towards
such meagre events and we are sure that this
is the only way that terrorists would ever get
to be silent.
9. Caste based system
• Caste based reservation is still a very sensitive issue in India
and taken up frequently to fetch votes. This is one of the
reasons why our nation is not moving forward at a pace on
which it should be to become a developed country. If we
want to keep the caste based reservation system then a
limit must be defined for the same. Any family
should allow to use the quote just once. This means once a
person in a family has used the quote then no one else can
use it. Caste based reservation was put into practice to
benefit under privileged. So once they are out of poverty
then they can help the rest of the family. On the other
hand government can provide the required financial
support to educate them.
10. Corruption
• India must work hard to tackle the widespread problem of
social evils and issues of corruption which are pulling India
backward. Indian economy is showing positive signs but
corruption is playing a negative role. Almost every sector
in India is affected by corruption especially infrastructure
and real estate, metal and mining, aerospace and
defense and power and utilities. Corruption leads to an
increase in the transaction cost. Corruption also decreases
the efficiency and does not allow the development of a
healthy market. Corruption is a big hurdle in the growth of
the country. Due to corruption foreign investors show lack
of interest in doing business in India. Scams are unearthed
every now and then in our country. These scams are
impacting FDI inflow.
11. Agrarian Economy
• Indian economy depends on agriculture,
which in turn depends on monsoon, which is
nowadays quite unpredictable. We need a
paradigm shift from being an agrarian
economy to industrial economy.
12. Literacy
• When Kerala has a whopping 100% literacy, other states should
learn from it and try to implement a similar system in their state.
The parents who are below poverty line doesn't know the value of
the education. They send their children to work for the daily wages.
This is the reason why the people are easily cheated by the other
people. The second thing is that the people of India mostly use all
the resources from India to gain lots of knowledge and then finally
they get themselves settled in the foreign countries. This makes a
great way for the development of that particular country and it is a
major drawback for our country. Brain drain is usually done by the
one who thinks that there are now developments available in our
country. We can also tell that the point of view of the people who
settle in the other country and work for the other country is right
because, if a person has developed himself in
13. Human Development Index (HDI)
• India continued to rank low in the Human
Development Index (HDI), but climbed five notches to
the 130th rank in the latest UNDP report on account of
rise in life expectancy and per capita
income. India's 2014 HDI of 0.609 is below the average
of 0.630 for countries in the medium human
development group. Norway is highly ranked on the list
of the highly developed countries in the world by the
Human Development Index (HDI) with the highest
score of 0.944. Norway comes as the 4th country in the
world by GDP (PPP) per capita which records $55,398
and the life expectancy in this country is high as it
records 80 years for males and 84 years for females.
14. Tax Evasion
• : It is the reason why the government's revenue is
pitiable. As earning citizens of India, it is
everyone's duty to pay their taxes properly. Most
people deny completely that they have evaded
their taxes. With so much black money in Swiss
Bank Account, India would be called a poor
country. It is estimated that if all the money
Indians have in Swiss accounts is brought back to
the country, no one have to pay any taxes for
approximately 20 years. So it becomes very
important that all the tax payers become
responsible and be honest while paying the taxes.
15. Mediocre Judicial System
• More than 320 Million cases are pending in the
High courts and Subordinate courts in India as of
2012. Crime rate has increased three fold in this
time and the main cause for that is the mediocre
judicial system that takes close to three months
to pass a judgment on a simple theft case.
Though the court has taken many rightful
decisions recently like the abolition of section 377
and 497, but the overall speed of decision making
remains mediocre.
16. Politics
• The politicians apply divide and rule policy , which was
created by the British people. To tell about the people
of India, they are already divided because of the
languages, religions and even by casts. People also
fight among themselves and politics enjoys .Political
leaders focus mainly on earning lots of money when
they are in the political fields. Even people know
many bad political leaders who are in the higher
position but they have no powers and mouth to tell
about them to authorities or to question them directly
and if there is power then the illiteracy avoids the
people to do so.