The whole world was talking about it in the last decade; the Great India Story. The economic climb started somewhere in 2004 and by 2006 there were talks of the laggard elephant (India) dancing in tandem with the dragon (China) and the tigers (S E Asian nations). It soon became the centerfold of the BRICS (Brazil Russia India China South Africa) club. The story was so strong that the nation started believing itself to be a world in itself. Never before had so much money poured into India from overseas and as the river of money began to flow, so did a tidal wave of arrogance and corruption. "!ncredible !ndia" was now "Invincible India". Then one day, somebody in a far far land called USA pricked a bubble called "sub prime" and the over bloated balloon called the Indian economy burst letting out the air faster than it was blown in. By the start of this decade there was no story left to tell; except, those of crimes and corruption; of injustice and inflation; and of an economic downturn and social despair.
The nation's environment sent out a clear signal that "breaking bad" was not so bad and adopting Gordon Gekko's line "greed is good" is indeed profitable. India has been celebrating itself as the "Lawless Land" where crimes go unpunished and those in power do not perish. And, when you can't beat them - join them is the principle being adopted by growing number of people.
On the other hand, the majority made up of the "Common Man" in India; one of the most tolerant in the world; is being weighed down each day bearing the brunt of the excesses that is making the rich richer and poor even poorer. Tolerance is the reason why this nation has allowed itself to be ruled for very long stints by external aggressors and even those who we call our own. For a Country of this size, it has never once attacked another for land or resources. In 1947, India finally got rid of all its foreign rulers and also the Indian "Maharajas". Independence was supposed to usher in a social revolution and the Common Man was given hope of a better tomorrow. Some 6 decades later, the story is much the same for the Indian majority. It's still under autocratic rule by the very people elected by the Common Man democratically. Despite having sent spacecrafts in the outer orbit and being counted in the top 20 economic nations of the world; India is a stark contrast where one will find a slum right next to million dollar apartments; and a place where the rich spend upwards of a 100 dollars per head on a meal and that amount sustains a family for a whole month.
This tolerance is now that is being questioned. The prices of basic commodities have gone through the roof. The inflation on basic food items is up by 100% - 300% and the anger that is building in the system will erupt sooner rather than later. When it happens; God help us. The progress in India is superficial. The supposed economic miracle that was - was based on speculation - stocks, shares, and primarily land. Today, industrial and agricultural output has declined. Service industries have contracted based on a global economic shrinkage. Setting up a business in India has become very tough based on high interest rates, official and unofficial taxation (Bribes and harassment), regulatory anomalies (many a times contradictory), and an infrastructure that is breaking down. India has reached a tipping point for sure.
Like every end, there will be a new beginning. Will it be good or bad? I really don't know. But, the Nation has to act fast if it wants to save itself. It has everything that is required to truly tell a Great Indian Story; if only we put the Country ahead of ourselves.
Disclaimer: This is a personal blog and while it is in public domain my personal property and written under the rights conferred upon its Citizens by The Constitution of India; which provides the right to freedom, given in articles 19, 20, 21 and 22, with the view of guaranteeing individual rights that were considered vital by the framers of the constitution. The right to freedom in Article 19 guarantees the Freedom of speech and expression, as one of following six freedoms:[1]
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