India and 2050:
After joining as an Equity Research Analyst (analysing fortune 500 companies) in one of the leading credit rating firms, I always have many doubts like why India is not a largest economy, what is the basis for an economy to grow big, what makes a country rich and finally why India is not on the list.
I sometimes have so many queries even on
what is the basis for measuring GDP,
On what basis, a country with 300 mn people can become a huge economy when India with 1 billion cannot become the largest economy,
if only monetary values of products and services will be considered in the calculation of GDP then what goods and services they consider,
Innumerable questions without any end.
Out of my experience in Research field, I understood only economy, efficiency and effectiveness can rule this world and nothing else.
Just would like to mix this two concepts and make some important study of GDP calculation:
In an economy, services occupy a huge role specially in a developed economy:
1) Services used by 1 billion population and compare it with same used by just 1/3rd of population
2) I can go to delhi by train at cheaper cost say a couple of hundreds, what if I go in a car --------How much does it cost......If efficiency is the basis......Monetary value of a person going in a car increases in GDP than some hundred people going in a train. If economy is the basis, India should have more GDP because more is being done so more value should be there.
3) Indian Railway system is a very well established one compared to US which has been completely destroyed by lobbying of all the big 3 car companies of USA --- GM, Ford, Chevrolet.....
These are just a few examples to make you understood and they are lot more to think..........
But the fact remains India is a largest economy but number hide the truth but they can't hide it longer.
Just can't stop the imagination of my great country in 2050 with the best in the world only from and in India.
CAclubindia
