Where is our Economy heading to?

Well, let me clarify at the outset that this is completely an apolitical post. We are going to put across some facts and figures related to our current economic condition in the recent years. This has nothing to do with the performance of any political party or the ruling government. This blog is more about our economic situation as a nation rather.

Layoff – A matter of prime concern

Kicking off with the trending topic of increasing unemployment, and the pace with which companies are laying off their employees, it seems as if one day almost every second person is going to be jobless. It is really a daunting thing to even think of, especially for the salaried people like us who have no other source of income except their respective jobs. Have we pondered upon the core reasons behind this yet?… I think most of us haven’t. I know the majority will blame corona for this ongoing layoff. But, let’s be practical and rational. The story doesn’t end there, in fact, it’s not even the beginning. These layoffs have been going on since last many years, it’s just that the ball got shifted to the court of corona when the rate of losing jobs got accelerated.



 

economy
Courtesy pic: www.thebalancecareers.com

Declining GDP

There has hardly been any new industry coming up in most of the states in the past five years. Do you know that we are experiencing the worst GDP rate of our economy in the last many decades?… In case one is unaware, they can check this fact from authentic resources on google for its veracity. Not just that, many of the existing companies, especially the small and medium scale industries, have either ceased to exist or come on the verge of extinction. And all this has not just happened in the recent few months, but has been happening for the last few years. So, by no means can we simply accuse corona for this decline. The only economical crime that corona has done is that it has emerged at a time when the economy was already in a bad state. Thankfully for the policy makers, corona took the responsibility for this declining gradient of the economy, and they could simply hold it responsible for this debacle.

Courtesy pic: www.jagranjosh.com

Declining FDI

Another glaring point to be noted in the dwindling economy is the constantly decreasing FDI. God knows where it will stop. Our Prime Minister, Modiji is trying his level best to attract FDI. He is personally making a visit to several developed as well as developing countries to portray a shining image of our country and to convince their investors and our NRIs there to invest in India. But, somehow, so far, despite promises from many of them, things don’t appear to be moving on the ground. MOUs are being signed, declarations are being done, but sadly, investment is not coming up.

Courtesy pic: www.thehansindia.com

Who killed SSR?

Thanks again to the recent turmoil in Bollywood, it has attracted all the attention of the jobless youth towards their personal lives, and now many of our youths are more interested in knowing the real culprits behind the SSR death case rather than finding about the accomplices behind the worsening condition of our economy. I am pretty sure, the offenders like Nirav Modi and Vijay Malya must be feeling largely relaxed that the focus of both Indian media as well as Indian public has finally got shifted from them to the personal lives of Bollywood stars at a time when they were most wanted for the bleak hopes of upsurge in the economy.

Courtesy pic: www.indiatvnews.com

Farmers under the Radar

Finally, the most disturbing factor of our economy is the increase in the plight of our farmers. These tenacious hard workers also seem to be losing hope eventually.

Our farmers had been trying hard to sell their produce at a good rate, but with the latest FPO system, they would gradually be losing hope of getting MSP as well, which was till now the most reliable reform for them in terms of getting a good value to their products. However, this topic is still debatable and many claim that this is a good initiative by the central government, but somehow it can’t be negated that if farmers are feeling perturbed with this new bill in today’s era when everybody has access to the policies through smartphones, there must be something fishy in this bill which needs to be either amended or removed.

Courtesy pic: www.hindustantimes.com

What next?????

If not taken any remedial action timely on this, this is going to be another big stumbling block in our Economy in the near future. Still, since we don’t have a dearth of cynosures in Indian Media, I’m confident that there would be something new coming up soon in the media industry as a blazing point which will draw everybody’s attention and the focus will soon be shifted from the plight of farmers to that episode.

Courtesy pic: www.medium.com

To sum up

But, come what may, we cannot deny the fact that we are going through a rough patch in our economical journey, and no matter how much attention a non-economical incident draws, the ground reality is that we have to struggle hard for our livelihoods in the coming times. To sum up, we can simply understand it this way that it is a bottleneck situation and there seems to be no headway for this stalemate condition. However, hope is the biggest asset that human beings have, so let’s be optimistic about the good days coming soon by some heavenly intervention. After all, there is always a plan B with the Almighty and He will not let us suffer with this turbulent phase for long.

Courtesy pic: www.moneycontrol.com

As shared by Lt. Bhaskar Shukla, ex- Indian Navy.

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