The problem statement has reduced itself. How to get HIGHER ‘per capita income” with equal distribution of money; HIGHER EQUALITY. This is not an easy task!
There are two aspects where People of India should help.
1. As producers.
2. As consumers.
We need more business houses. Instead of creating large, huge, massive business houses (a lot of money concentrated in few hands), India must concentrate at creating number of small businesses. We do not want “World’s Richest’s”, we want more number of richer people. More number of businesses in nation leads to betterment in GINI index. For example, if Flipkart is doing good, this is no reason why snapdeal should not be given chance. If one day, Flipkart wins the competition and snap deal dies: the economy may move towards creating more GDP but lesser equality too. We need more e-commerce outlets. Similarly, the principle should be extended to other fields too. Let us say clothing. If we buy Pentaloon’s and never give chance to West-Side, one day, West-Side will give way to Pentaloon’s. Again killing one company.
Hence, we reach two conclusion. First Indians capable of opening business outlets should never shun away from establishing businesses. They should never take up jobs.!! Never..!! Howsoever small scale it may be, the business house is going to help India much: in generating GDP, in creating equality, eradicating poverty, reducing office harassment, improving work culture, what else we want. But these new business houses have to live the competition. There’s no respite from this. One has to maintain quality and take care of the consumers, help consumers, love consumers, live for consumers. No respite. The GDP produced could be high only if the companies are huge. But equality demands that number of huge companies should be there. This will result in very high GDP and more equitable distribution of money. Every business house got to have their R&D sector; extra-ordinary artists. Very Crucial. The Crux.
Secondly, the Indians acting like consumers should give chance to these new outlets. Indians have tendency to stick to brands. The hero-worshiping is bad. Never be brand-conscious. Or atleast never stick to one brand. Give chance to other outlets to grow.!! Just like Micromax.! Do not kill Karbon too.!! Give chance to Gionee and many more outlets. Only this will help create more job opportunities and hence, will distribute more money, creating equality thereby. This will help in increasing the value of Indian Rupee too. You see it is so evident from this mobile industry, that by sheer outburst of so many manufacturing companies, the cell phones have become cheaper, or we can say, the power of Indian Rupee as per cell phone market is concerned has increased. Here, I intend to relate the valuation and devaluation of currency in national and international markets.
Last, but not the least. The People of India should identify Indian manufacturers; the owner of the company should be Indian. The Indian Rupee should remain in India.
3. Buy majorly Indian products. Buying foreign goods is also important as per augmentation of new technology is concerned and also, to foster a healthy competition in Indian domestic and international markets. Nevertheless fostering the Indian Manufacturing Companies is also crucial. But these new business houses have to live the competition. It’s the only way to true economic independence.
There are some directives for Government of India too.
1. Make it compulsory for all the manufacturers in India to use a small symbol of “Indian Flag” on the packaging of the product. Hence, to separate it from the products of other countries. Moreover, if the products of all various countries are made to use the flag symbol of their country of origin, citizens would be aware which product belongs to which country. Hence, citizens will make choice of buying or not buying the products based on the foreign relations of that nation with India. Hence, People of India would be able to buy more products originating in friendly country. Thereby, the large potential market of India will be tapped only by friendly nations and not by nations who are not in good terms with our nation. This will give GOI a tool for economic warfare and also, diplomacy at international levels, as India is a big market. Flag symbol of country of origin should be made compulsory for all products sold in Indian market.
2. India needs more business houses. Let them first develop. GOI should provide the fresh entrepreneur with required and demanded knowledge and know how. For instance, free Hotel Management courses to small Dhaba and Hotel owners in Himachal and other tourist places so that they may understand the dynamics of marketing and management which could be pre-requisite for a healthy food business. Government should push middle class into opening and running more businesses. GOI should concentrate at creating new business men. This is the Pith.
3. Moreover, the GOI should issue advisory to People of India for how to diversify their shopping kart by suggesting the various Indian companies for each product. Or GOI can provide for such lists online. The business houses should be asked to register on that very website for preparing the exhaustive list of India based companies. People of India needs to be educated in this term. This is the Gist.
Effects which could be produced by the above said measures:
1. Population will stabilize. The Fertility rate should become equal to 2 or lesser than 2. This is very important. The Economy and Population are two independent variables but are still related. Lesser population is easier to manage.
2. GDP will grow. Buying Indian product. The total income generated by the nation will increase. By buying majorly Indian products, Indian companies would be boosted. They will have more space of money to maneuver.
3. Equality will not be negotiated. The poor of the nation will not be that poor. Today, the poor of developed country is much better than poor of our country. This statement will be held wrong. The GDP (National Income) would be almost equally distributed, thereby uprooting the poverty.
4. Poverty eradication. Poor people elevation. There is no other means of poverty eradication. Giving money straightway to poor people is a bad idea. For poverty eradication, middle class people have to rise and add themselves into upper rich business class. This will redistribute the money from the super rich towards the poor.
5. Cultural Development. Once the social security of all kind is achieved, the way for cultural development will be opened. Only then “Honesty is the best policy” will hold true. Firstly, hunger should eradicated, only then we could talk about ART. Museums will come up. Indians will then only start discussing and generating Art and Culture.
6. The respect for Employee in companies will increase. Employee harassment of all kinds will be tackled. Eve teasing and office harassment of women could also be tackled effectively. Employees would be in respectable position.
7. Unemployment will vanish. Job opportunities will increase. Everybody will be satisfied.
8. The value of Indian Rupee will increase (the things we can buy for Rs.100/- now, we will be able to buy the same number of things for just Rs.50/-); first in domestic market and then in international market. Value of Indian Currency in terms of Dollar is bound to increase. Indian Rupee Currency is so much devalued in Domestic Market itself, that Indians can not buy anything for Re.1/-. Leave aside rising the value of Indian Currency worldwide.
9. A Prosperous Innocent Nation.
Sone ki Chidiya
Please wait for my next article in the series “People’s Part in Indian Economy”. In that article, GINI coefficient would be explained. I will try to be as discrete as possible.