The last 17 years of Free Market economy in India has changed the economic scenario in the country. Things have changed fo the better. Economic Growth rate is high, GDP is high and India is one of the largest economies in the world. This is one side of the story that we often hear. Well, most of them are true. But on the other hand, there is another story. Largest economy means more economic growth but certainly does not mean rich economy. The largest economy is becos of the large population. This large population is a big burden for the economy. No matter how much the economy grows ,things will out of control due to overpopulation. Secondly, with the rise of GDP and economic growth, the inflation rate is also rising probably at a faster rate than the other two. The situation of the common man remains equally tight as it was 20 years before except for the fact that now he can watch corporate interest-backed Song and dance/celebrity competitions in a more well decorated Idiot Box. Hope atleast India does not turn ot to be another Argentina. Therefore the perception of India outside as gathered from the article may be quite wrong but it also does not mean India is free of poverty, starvation and provides good quality of life for the middle class(which even developing tiger economies like Malaysia, Korea and Taiwan can provide).Just an emergence of the New rich and a few high salaried IT and MNCs guys do not reflect that India is on its way to become a fully developed nation.
