India has been bragging about being a political superpower and a military might. A brief look will abundantly expose the facade of the Indian economy; which will collapse at the first signs of uncertainty or instability.
- In 2008, its external debts increased to around $221 billion.
- In 2007, Indian exports stood around $145 billion, while imports were around $217 billion; a deficit of $72 billion in a single year.
- India’s trade deficit was $117.3 billion in 2009/10, down from $118.7 billion in 2008/09. In 2010 the deficit has mushroomed beyond reasonable levels. Reuters survey in April forecast the gap would widen to $132.70 billion in 2010/11 and $154.50 billion in 2011/12 (http://in.reuters.com/article/idINIndia-49834320100702)
- Bharat is one of the largest recipient of foreign aid in the world. The UKs biggest recipient of British aid is Bharat. The UK donates 500 million Pound Sterling to Bharat every year. Many other countries also give foreign aid to Bharat. Bhart‘s biggest donor is Japan.
- India currently accounts for 1.5% of World trade as of 2007. Bharat’s trade imbalance with the US for 2010 is -7,980.5 million or around 8 billion USD.
Bharat is one of the biggest debtor nations on the planet with public and private debt estimated between $250 billion to $3 Trillion.
- India fails to distribute wealth to poor: UN Report (pakistanledger.com)
- India falls to 88th spot on World Prosperity Index (rupeenews.com)
- India behind Pakistan and Bangladesh, on human development indices: UN Report (rupeenews.com)
2010 numbers: Finance minister Pranab Mukherjee today presented a budget with a fiscal deficit of 5.5% of the gross domestic product (GDP).
He pegged the total expenditure at Rs11.09 lakh crore while the total tax and non-tax revenue was estimated at Rs6.82 lakh crore for the year 2010-11. The deficit is much lower than the budgeted estimate for the current fiscal (6.8%), which, however, has been revised to 6.9%.
Bharat has never been a net exporter like China which has colossal surpluses with almost every country of the world.
Its factory output account for 27.6% of the GDP and employs 17% of the total workforce. Rest of the workforce is largely dedicated to the agriculture sector. According to a 2008 World Bank report, 75.6% Indians live on less than $2 per day. It suffers from higher rates of malnutrition than Sub-Saharan Africa. Over 70% of its population is either illiterate or educated below the primary level. Indian tourist industry is 1/6 of Las Vegas. Recently, Standard & Poor’s announced, India risks a downgrade from BBB-minus rating to the lowest investment-grade rating. Clearly, Indians are hardly in a financial shape to even contemplate on waging a war.
Indian service industry accounts for over 55% of its GDP. Bangalore is called the Silicon Valley of India. A large number of Information Technology companies are located in the city. It is the largest contributor of India’s $33 billion IT exports (2007), . The Statesman. A Gill. Dec. 30th, 2008. It is at $50 billion (2010) in 2010 but an exponential growth faces Anti-Outsourcing laws in the US and Europe.
- Hunger in India alarming! India at bottom on Hunger Index in South Asia
- How long to extripate penury from india? 300 years!
- India’s budget– fit for a superpower
Around six out of 10 Indians live in the countryside, where abject poverty is widespread. 34.7 % of the Indian population lives with an income below $ 1 a day and 79.9 % below $ 2 a day. According to the India’s planning commission report 26.1 % of the population live below the poverty line. [World Bank's poverty line of $1 a day, but the Indian poverty line of Rs 360 a month, or 30 cents a day]
The Current Account Balance of India
“A major area of vulnerability for us is the high consolidated public-debt to GDP ratio of over 70 percent … (and) consolidated fiscal deficit,” says the Governor of Reserve Bank of India (RBI), Mr. Yaga Venugopal Reddy.
According to CIA world fact book, the Current account balance of India is -10,360,000,000 (minus) while China is the wealthiest country in the world with $ 249,900,000,000 (Plus). India is listed as 152 and China as no.1 [CIA: The world fact book].Amnesty International (AI) 2008 report on issues within India (http://rupeenews.com/2008/05/29/amnesty-int-2008-report-excoriates-horrid-india)
Human Development vs GDP growth
The Human Development Report for 2007-08 released by the UNDP ranked India 128 out of 177 countries, working it out through measures of life expectancy, education and income. Malaysia ranked 63 and listed at under High Human Development category. The report found that India’s GDP per capita (purchasing power parity) is $3,452, far below Malaysia’s $10,882. China listed as 81. Read the statistics from UNDP website.
Sudra Holocaust: Genocide of 1 million Dalits in India since 1947: About three million Dalit women have been raped and around one million Dalits killed from the time of Independence. This is 25 times more than number of soldiers killed during the wars fought after independence. That is why Dalits do not need Aryan culture or Hindu Dharma based on caste any more. …” [Dr. Tulsiram]
- India: More than 75% live below Sub Saharan poverty line
- India: 3500-yrs of massacres of Dalit-Sudra Blacks by Arya-Brahmins
- Eat Rats:Indian officials ask starving Indians to eat rodents (BBC)
- Indian girl Infanticide-Female Foeticide: 1 million girls killed before or after birth per year
- Khumb Mela India: 60 million Filthy Naked Indian sadus
According to the Indian census of 2001, the total population was 1.028 billion. Hindus numbered 827 million or 80.5 %. About 25 per cent (24 million) of those Hindus are belonging to Scheduled Castes and Tribes. About 40 per cent (400 million) are “Other Backward Castes”.
15 per cent Hindu upper castes inherited majority of India’s civil service, economy and active politics from British colonial masters. And thus the caste system virtually leaves lower caste Hindus in to an oppressed majority in India’s power structure. The 2004 World Development Report mentions that more than 25% of India’s primary school teachers and 43% of primary health care workers are absent on any given day!
Chilled Urine drinking hot in India. From Gandhi to PM Desai.
Living conditions of Indians
89 percent of rural households do not own telephones; 52 percent do not have any domestic power connection. There are daily power cuts even in the nation’s capital. The average brownout in India is three hours per day during non-monsoon months, 17 hours daily during the monsoon. The average village is 2 kilometers away from an all-weather road, and 20 percent of rural habitations have partial or no access to a safe drinking-water supply. [Tarun Khanna, Yale Center for the Study of Globalization]
Around 60 per cent people are not having access to financial institutions in India. This figure is less than 15 per cent in developed countries. (NABARD) According to the National Family Health Survey data (2005-06), only 45 per cent of households in the country had access to improved sanitation.
India has over 35 per cent of the world’s total illiterate population. [UNESCO Education for All Report 2008] Only 66 per cent people are literate in India (76 per cent men and 54 per cent women)
About 40 million primary school-age children in India are not in school. More than 92 % children cannot progress beyond secondary school. According to reports, 35 per cent schools don’t have infrastructure such as blackboards and furniture. And close to 90 per cent have no functional toilets. Half of India’s schools still have leaking roofs or no water supply.
Japan has 4,000 universities for its 127 million people and the US has 3,650 universities for its 301 million, India has only 348 universities for its 1.2 billion people. In the prestigious Academic Ranking of World Universities by Institute of Higher Education, Shanghai Jiao Tong, only two Indian Universities are included. Even those two IITs in India found only a lower slot (203-304) in 2007 report. Although Indian universities churn out three million graduates a year, only 15% of them are suitable employees for blue-chip companies. Only 1 million among them are IT professionals.
India has the single highest share of neonatal deaths in the world, 2.1 million.107,000 Leprosy patients live in India. 15.3 % of the population do not survive to the age of forty. Serpent attacks kill as many as 50,000 Indians while the cobra occupies a hallowed place in the Hindu religion. Heart disease, strokes and diabetes cost India an estimated $9 billion in lost productivity in 2005. The losses could grow to a staggering $200 billion over the next 10 years if corrective action is not taken quickly, says a study by the New Delhi-based Indian Council for Research on International Economic Relations.There are only 585 rural hospitals compared to 985 urban hospitals in the country. Out of the 6,39,729 doctors registered in India, only 67,576 are in the public sector and the rest either in private sectors or abroad, pointing towards the severity of the problem.Tuberculosis (TB) is a major public health problem in India. India accounts for one-fifth of the global TB incident cases. Each year about 1.8 million people in India develop TB, of which 0.8 million are infectious cases. It is estimated that annually around 330,000 Indians die due to TB. [WHO India]Economy under the siege of Elite HindusMap of India showing the highest concentration of Brahmins and Hindu extremists known as Hinduvta”]
In India, wealth of 36 families amounts to $ 191 billion, which is one-fourth of India's GDP. In other words, 35 elite Hindu families own quarter of India's GDP by leaving 85 % ordinary Hindus as poor!
The dominant group of Hindu nationalists come from the three upper castes ( Brahmins, Kshatriyas, and Vaishyas ) that constitute only 10 per cent of the total Indian population. But, they claim perhaps 80 % of the jobs in the new economy, in sectors such as software, biotechnology, and hotel management.
According to TI, 25 % of Indians paid bribe to obtain a service. 68 % believe that governmental efforts to stop the corruption as ineffective. More than 90 % consider police and political parties as the worst corrupt institutions. 90 % of Indians believe that corruption will increase within the next 3 years. "Corruption is a large tax on Indian growth, It delays execution, raises costs and destroys the moral fiber." says Prof. Rama Murthi. Transparency International estimates that Indian truckers pay something in the neighborhood of $5 billion annually in bribes to keep freight flowing. According to Rahul Gandhi, only 5 per cent of development funds reached their intended recipients due to hierarchical corruption in the country! [Financial Times] Discrimination against Dalits
Crime against Dalits occur every 20 minutes in India. Every day 3 Dalit women are raped, 2 Dalits are murdered and 2 Dalit houses are burnt down! These figures represent only a fraction of actual incidents since many Dalits do not register cases for fear of retaliation by the police and upper-caste Hindu individuals. Official figures show that there are still 0.343 million manual scavengers in India from Dalit community. More than 165 million Dalits in India are simply abused by their Hindu upper castes for their birth! . [HRW Report2007]
When it comes to Human Rights issues in India, it is not ratified the UN Convention against Torture, its citizens do not have the opportunity to find recourse in remedies that are available under international law. The victims are trapped with the local Hindu caste system, which in every aspect militates against their rights.India has a very poor record of protecting the privacy of its citizens, according to the latest report from Privacy International (PI). India scored 1.9 points, which makes it an ‘extensive surveillance society’. A score between 4.1 and 5.0 (the highest score) would mean a country “consistently upholds human rights standards”. PI is a watchdog on surveillance and privacy invasions by governments and corporations. [Surveillance Report 2007]
The police in India continue to remain militaristic in design and suppressive in practice. The police officials are accused of favoritism, being discourteous to the public, and ignoring the complaints of the poor. Moreover they are seen as violators of the law, open-handedly accepting bribes and fabricating various elements of investigations. Many victims conclude that a justice system accessible to the poor of the land does not exist at all.