I was reading through https://www.reddit.com/r/geopolitics/comments/9xdhsz/will_a_permanently_middleincome_trapped_17/ and came across some interesting figures in the comments.
/u//RajaRajaC/ wrote both of these comments -
>India GDP growth rates by decade.
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>68-78 : 9.01%
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>78-88 : 4.54%
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>88-98 : 5.52%
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>98-08 : 6.9%
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>08-18 : 7.47%.
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>Average over 50 years? 6.7%.
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>Am not sure why these guys who almost always are the "le Confucian work ethic" types think India will some how just collapse because... They said so.
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>Half the thread here is sheer illiteracy talking. They make blind assertions and then form a position from that when even that assertion is deeply flawed.
>At the same time we have these poverty figures (also taken from him)
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>The was the period 1947-70 when we averaged something like 2-3%. Interestingly this is still faster than what a Brazil or South Africa or Argentina have achieved in the past 5 decades, so not sure why it was even called that.
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>Our per capita incomes though rose only at 1.8%, in fact in 1951 India had 45.3% of the pop living below the poverty line. In 1979 this was at 48%. So the percentage of those living in absolute poverty actually increased. It is from 1980 on that both started growing at a balanced pace.
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>Now contrast this to the explosive reduction in people living below the poverty line since 1990.
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>1990 - 45% (around the same figure since 1947),
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>1998 - 43%
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>2005 - 38.9%
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>2012 - 27%
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>2017 - 21%
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>In summation this is more tied to poverty reduction than actual GDP growth. From 1947-85 (approx end period) because of the corrupt nature of our polity GDP growth was disconnected from poverty reduction. Since then both have started to right itself.
I've always heard that liberalization caused higher economic growth, which led to poverty alleviation. However, the above figures don't support this - it seems like the Indian economy was always growing quite fast, but was not able to convert this into poverty alleviation.
What happened in 1990 that allowed this to happen? I guess the easy answer is that GDP per capita started increasing, indicating tha
... keep reading on reddit ➡
With a booming population and competitive economy, India has made a mark in the global playing field. However, nearly 60 percent of India’s population lives on $3.10 per day and 21 percent (250 million people) live on $2 per day. The uneven spread of wealth leaves many people in poor living conditions. The top 1 percent of Indians own 58 percent of India’s wealth, meaning 16 people own the wealth of 600 million people. Unfortunately, over 70 percent of the population still lives in rural villages and work labor-intensive jobs with minimal profits.
The extremely high growth rate of the population leads to a strain on resources. This leads to growing illiteracy and a lack of health care facilities and services. Some expect the total Indian population to reach 1.5 billion by 2026 which means the country will require 20 million new jobs to sustain its people. There is now a desperate need for a better solution to pull people and their families out of poverty.
The Nature of Startup Companies in India
The economy in India continues to compete on a global scale as highly intellectual individuals are progressing with new businesses and startups. In fact, India is the home of 48 million new businesses, which is more than twice the number in the United States at 23 million. The startup companies in India have unlimited access to software and intelligence, making it a competitive playing field. Due to the startups, India has the fastest growing economy and market place in the entire world, taking over China and the United States.
The number of startup companies in India is continuing to grow from 3,100 companies in 2014 to an expected number of 11,500 companies by 2020. The current day and age make India an ideal place of startups as entrepreneurs have access to the internet, educational initiatives and experienced mentors. All of these factors improve the success of startup companies. India has the third-largest startup ecosystem in the world, which was worth over $32 billion in market valuation in 2017. The ever-growing field
... keep reading on reddit ➡
Movie: https://www.youtube.com/watch?v=-ottnI65duU
Start with this time stamp: https://youtu.be/-ottnI65duU?t=805
I have done a sort of PHD on this movie. The house of the Don shown in the movie is the actual house of Shahrukh Khan now.
At least the OP was reasonable and admitted they needed to do some research, props to them. Everyone else though.... yikes.
