Socio-economic goals for next decade (India needs to focus on what really matters)

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 Socio-economic goals for next decade (India needs to focus on what really matters)

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Read more on - Polity | Economy | Schemes | S&T | Environment

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• 2020 not 2010 or 2000: While the world was hurt badly by the global financial crisis around 2010, and by the Y2K crisis around 2000, India went unscathed. The turn of decade around 2020 is different for India, though.
• What's wrong right now: The world is enjoying the benefits of technology, but is stuck in binary politics, weakening economies, and uncertain trade. India is touched by all of these.
• Social challenges: India will reap a rich dividend if our society is well-educated and properly informed. 

1. Indian school system has 26 cr students, studying in 15 lakh schools (second only to China). Poor quality and adverse student:teacher ratio (24:1) hobble it. [China's ratio is 19:1]
2. Higher education is hamstrung by less number of teachers than the sanctioned strength - all across Central universities, IITs, State universities, etc.
3. Vocational guidance for removing skills gap is not upto the mark.

• Healthy society: As per "The Lancet", Indian healthcare ranks at 145 out of 195 countries, sadly below even N Korea and Syria. 

1. Govt. spending on health is just 1%, with primary healthcare needing the most attention. 
2. Private sector can work with excellent PSU hospitals on revenue-sharing, and serve more public (non-PSU families).

• Crucial to invest: If India does not start investing heavily in rural and backward areas, by giving high remuneration to talented people to work there, by 2030 these will be left too far behind to catch up. India's roots are education and health.
• Good economics is good politics: Despite whatever be today's trend, if GDP growth rate can be accelerated, it will do justice to one and all. A key possibility is through infrastructure building. PPP models will work best, as govt. funding is limited.
• Stark reality: 70% of the 65% rural population of India is agriculture-dependent. Change their economic status, and India will change.

1. Only 4% of India's fruits and vegetables are processed. (China processes 23% and Brazil 70%).
2. Proper storage and logistics can change all of this.

• Manufacturing and exports: The share of mfg. in GDP is stuck at 16%, while China's share is 30%. Industries lack competitiveness, leading to trade deficits. If FDI can be brought into mfg., things will change.

1. India must focus on producing goods that the world will accept, and must make them SPS- and NTB- compliant.
2. High tech exports of Vietnam stand at 31% of total exports, but for India, it's only 6%. Both are agrarian societies.

• A whole vision: So India needs a comprehensive vision for 2020s, if it is to be a successful world power by the 2030s.
• Summary : A holistic vision of growth for the 2020s alone can make India truly realise her potential.

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