Indian economy is at crossroad. Macro factors like inflation, debt, and taxes are not so favourable. New taxes every few months are sign of something wrong with economy. Fuel prices are rocket high. Rupee is slipping day by day. RBI has huge burden to pay huge dollar loan at high exchange rate.
Cash flow seems chocking. Saving rate of common people is lowest now. Most of them are living at debt. RBI got into bad habit of cleaning NPA of books without harsh action on defaulters. Another bad habit is giving cash to Government to run the show. Money is for common man and for them only.
Rate hike by RBI has shocked lot of liquidity from market. FIIs are also taking money out. Indian market is no more their favourite.
We are facing issues from various fronts. Sign is visible indirectly. States are crying for GST amount, PF interest not coming on time. To supress job cost Agniveer kind of policies are coming up. Another sign is new taxes after few months like 194 Q, H etc. Government has closed its eyes on Chinese aggression on border as we can’t afford cost of another war. So government is running on event management or distraction management of public from key issues. Numbers are being manipulated.
What is looking bright in this dark? Education , Medicine, daily needs like FMCG, power etc. Things that a man can’t live with. Needs have new meaning. Indian will always spend on these. Drink and debt are rising. In Delhi , drink is cheaper than water. It is sign to keep people distracted from real issues.
Hope will come from new areas like organic farming, cold storage of Agri products, legal system modification, environment issues, solar or green power, medical sector like cancer treatment. IT is just working on reduction of Jobs. It should focus more to make people life easy. Platform to make people lazy are popular now like Uber, Zoom, Zomoto, Swigy, OYO etc.
Science has accelerated global growth from time to time. Electric bulb to Industrial revolution. Now space is new area where we can see growth. Virus or infections are killing people on slow pace. We need age related treatment. In India, we recently saw three big revolutions, IT, BPO, Banking, Mobile, and Platform culture (apps). We need another breakthrough to feed large population.
Till then, live on political distraction and power games. TV is new porn. Till we become new Srilanka. No politician will tell truth till the end. SOS will keep coming for Oxygen or Coal. Environment is too disturb and earth wont give much time. Science can push things ahead..