Economic policies of Inequality.

The globalisation and liberalisation is the buzzword these days. With the demise of communism and subsequent rise of capitalism in stature, they are here to stay and no country can remain untouched by their mighty hands. The face of Indian economy too has undergone a vast change to suit it to the taste of globalisation. and currently everything seems to be working in our favour(even monsoons too). All the efforts of government are aimed at achieving the GDP growth rate, towards getting more FDIs to keep its economy in good shape. and of course it is upbeat about its achievement of meeting the desired growth rates as projected by international monetary agencies like world bank and IMF. The government is satisfied by getting full marks in its report cards from the reputed international agencies and is aggressively pushing forward its agenda of economic development as dictated by them.

But statistics are often misleading, this can be seen in the case of Indian economy. More than the rate of GDP growth, the suicide rate of farmers is increasing which was not happening even when there used to be droughts in the country. The most alarming is the increase in the economic ineqalities between different sections of society. No doubt, the economic growth is quite essential for the nation and to cope up with the problems like unemployment and inflation. but if this growth does not penentrtes to the bottom level of society, then it becomes useless and in fact it given rise to other problems which have ever-lasting effects. The benefits of this growth has not been reaped by everyone, in fact a vast section of population has remain untouched by it.These section includes people like farmers, labourers, daily wage workers, street vendors who constitute the majority of workforce of our country. They have remained unaffected by the wind of globalisation and in some cases they have paid the price of it also.

The current model of economic growth is flawed in many respects. Clearly the government policies policies are not only negligent, but also discriminatory. The creation of SEZs and entry of MNCs inretail industry are a point in the case. The promptness shown in creating SEZs is lacking when it comes to providing adequate compensations to the farmers whose land has been forcibly taken away for it. And any voice raised against it is oppressed using brtual force or money power. Similarly government has no concrete palns for millions of small retailers who will lose their livelihood as a result of entry of MNCs in this sector. Also the current model has failed to address the regional imbalances, it is lop sided in favour of metropolitans leaving the small towns in lurch.

The economic policies followed by successive governments have been responsible for this situaton. The euphoria behind the economic growth has already started to diminish. If these kind of economic policies are pursued then things will soon be out of control of anybody.In this model the rich becomes richer and poor becomes poorer and ultimately the society is divided into two classes- haves and haven'ts . This leads to birth of class struggles as stated by Marx. It will ultimately lead to social unrest will is highly detrimental to the proper functioning of democracy. As we know the kind of influence that money brings with itself will be a tough challenge to cope up with for the various establishments, especially in the current political set up where money plays an important role in decison making. In a democratic set up like ours, the economic equality is of paramount importance. otherwise world's largest democracy might end up as an oligacracy.