Empty Gas at Gandhinagar The Pravasi Bhartiya Diwas being held in Gandhinagar, Gujarat is another stunt. It must be understood that most of these NRIs are hard boiled businessmen who work for profit, not emotions like love for the country. Others are professionals who are earning a lot overseas and are unlikely to permanently return to India. So all this bonhomie at Gandhinagar is a lot of empty gas, signifying nothing. As I have repeatedly explained, the main problem in India is not how to raise production, but how to raise the purchasing power of the masses. There is no difficulty in increasing production. We have thousands of highly competent Indian engineers, managers, technicians,scientists, doctors,etc. Also, we have immense natural resources. Consequently, there is no difficulty in doubling or tripling the production of any commodity. The problem, however is of sales. Our poor people( over 75% of our population ) have little or no purchasing power, and the purchasing power of our middle classes ( 15-20% of our population ) is also rapidly eroding with the steep rise in food prices and prices of other commodities. So how will the goods produced be sold ? The NRIs can do nothing to raise the purchasing power of our masses. We have to rely on ourselves, using our own creativity for solving this fundamental problem. Unless it is solved, we cannot increase production, as the goods produced will not be sold. Reliance on a foreign market is very precarious as that market may be captured by some other country, in which case our factory will have to close down. Moreover,the Western markets are already saturated with Chinese goods, and a recession is going on for many years in the West. We must therefore rely mainly on our domestic market, and for that we have to, and I say this at the cost of repetition, raise the purchasing power of our masses
Posted on: Thu, 08 Jan 2015 08:18:22 +0000
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