The Mainstream media is drawing a rosy picture for 2010. Most of the newspapers and news channels are saying that this is the decade of India and 2010 is just a beginning of this great decade. But is it true? In fact it’s not true.
People of news media are aware of this but they are drawing a rosy picture because the character of that capital, which is running most of the media houses, is forcing them to do so. Media is saying, recession is over and good days are coming. Renowned economist Kamal Nayan Kabra says, ‘recession is not over now. It’s long term impact will be visible for few years and India is going to feel the heat of recession in 2010.’
News media and a class of economist is claiming that a number of new jobs is waiting for professionals. Kabra do not agree with that. He says, ‘It’s true that the private sector has started hiring but the number is very few. Government as well as concerned sector is not giving proper data on new hiring. Companies have fired in bulk of the name of recession. In comparison of that retrenchment, hiring is very low.’ It means, job crises is not going to over in 2010.
In this fiscal, GDP is expected to remain very close of 7%. At present this is at 6.9%. The group of economist, who is indulged in drawing a rosy picture for this year claims that the GDP will be very close to 9%. One question rises up at this point. Is GDP a real tool for calculation of absolute growth. Kabra denies. He said, ‘GDP is very superficial way of calculating growth. GDP of nation is 6.9% and common man is struggling with price rise. There is no increase in income of common man. Then what is the meaning of great GDP numbers.’ When India was growing at the rate of 9%, farmers of Vidarbha and Andhra Pradesh were committing suicide. It means GDP is related to the growth of a particular section and better numbers does not bring any kind of benefit to common man.
The Share market is also looking in very good mood. A number of economist and market expert are saying that the BSE sensex is going to cross the mark of 21,000 in 2010. It may happen but what is the meaning of booming share market to a person, who is living is a village of Bihar and struggling for his or her livelihood. According to Arjun Sen Gupta committee, 840 million Indians are living on less than 20 rupees a day. Then what is the meaning of the surge of share market to this larger section of Indian society? So, it’s very unfair to see growth in terms of the number of sensex.
In fact the whole system of development, on which policy makers of India are working, is not fair to common man. Congress lead UPA government love to sing the song of betterment of common man but they hate to do any thing for them. Their policies ensure the growth of the privileged section of the society. That’s why the asset of 100 richest Indians up by 60% in 2008, according to Forbes. But the number of those farmers, who are forced to commit suicide, is growing.