Real Economic Challenge

FinDrome believes in promoting the right to speech that Indian constitution provides every Indian with, and as a testimony to the same, we now present you with Shahid Hussain, the first guest blogger on Finquest.

The fear of India crumbling to the Economic Tsunami that emerged in North America is over. Our conservative regulatory approach saved us. Also, what United States did after crisis to control the situation, we already had it – I am talking about Govt. stake in Banking businesses and other important businesses like steal, insurance, power, etc. More sustainable growth models exist in Indian economy all thanks to domestic consumption strength and rising middle class, Govt. of India intervention capabilities and regulations framed keeping a conservative approach.
So the time is back to project 8 % plus figures of GDP, rising corporate salaries, Double digit growth of  companies on quarterly basis, booming real estate – Shinning India, Next Big thing India, etc etc.
Question is – Is the growth benefit reaching to all?? Is it a lopsided growth story??
What is the real economic challenge in next few decades to come.
The real enemy is POVERTY. The gap between rich and poor. We may not realize its severity now as this phase is wealth addition phase of rich and middle class. As time will pass, more and more wealth will get accumulated with the rich and middle class population creating greater gap in the society. Have you ever imagined or analysed the reason behind kidnapping cases of Bihar? Wealth is accumulated with few (Doctors, Zamindars, Industrialists, Businessmen) and large population faces acute poverty. Result is they resort to kidnapping, illegal trade, etc. So the rich and rising middle class can’t ignore the growing rich poor divide as if they do so, they will face the music later when frustrated poor mases will resort to forcefully & illegal means of wealth accumulation. When poverty organizes them and unites them, a revolution is born that can change the course of nation and society. Most Moists in India hail from very poor family background and are forced to join it as a result of illiteracy and hunger.
What we can do now? Shall we continue to pursue rapid growth without giving much importance to these issues. Capitalism believes that deserving ones will get wealth. Most will agree. But then if we don’t wake up and leave them to suffer, we are sowing seeds of  revolution which will finish us in days to come. Thus we must empower them too, the growth benefits should be passed to the most poorest person also. Both urban and rural infrastructure building should be given priorities, job opportunities should be created even in rural areas and backward ares. Cottage and Small scale Industries should be protected against forces of Industrialization & Globalization. Slum redevelopment should be given justice pushing aside politics.  
The real challenge in coming years is eliminating poverty and providing quality education and healthcare facilities to country men!!!!!