The number of Indian families earning about $4500 to $22000 (Rs2,00000, Rs10,00000), which constitutes the middle class as per the World Bank’s definition of middle class in 1995-96 was 4.5 million per anum, the number of such households grew to 0.7 million in 2001-02. Now India has 28.4 million such families by 2009-10. One can say that the Indian families are growing rich, from poor or depraved families; they are traversing towards the middle income group range. Irrespective of the higher inflation rates, one can justifiably state that the number of high-income households in India has exceeded the number of low-income households and similar is the assertion of National Council of Applied Economic Research (NCAER). Continue reading

It is probably an often thought question, but rarely answered correctly by most of the people. What makes a country like India poorer than a country like say America? I have tried to answer this question since I was a kid, then as an adult.
Lets see, most people might answer to that question as “India is poor because it lacks so and so “, the effect being something India does not have because its poor, and US has because its richer, and not a cause of Indian poverty. For example, some people might answer
“India is poor because it lacks infrastructure western countries have”, or
“India is poor because of lack of education among people”, or
“India is poor because its very corrupt, and it has politicians who manipulate people etc etc”.

With the fall of silver in 1873, Indian Currency Committee suggested British India government to adopt for gold standard and in 1898 British government instead of adopting a Gold Exchange Standard, pegged Indian rupee with British sterling.
After Independence, Indian government started minting Indian coins (rupees); Indians thus never got a gold standard for representing their money
Now since last 63 years, Indians have so much used to the government issued currency, cycles of inflation and depression and always increasing price rise, that even talking about gold standard and private coinage seems to be impossible. Yet, since Indians were in habit of using private monometallic coins in past, it is imperative to discuss the issue of private coinage. Taking the premises of Freedom for everybody and the Self-Governance (Swaraj), which has been extolled by the Indians as a basic Mantra of life, let us examine the case of private currency carefully. Continue reading

Consumerism is the principle of Free Market, which states, “free choice of consumer should rule the market, or, the consumer decides the economic structure of the society“. Producers and providers bring their products to the market and make it certain that consumers, the public, may gain enough knowledge about their product so that, if the consumer decides that the particular product is good, they may buy it.
To spread the knowledge of their product, producers advertise and apply proper marketing strategies. The consumer remains free either to accept the product and buy it, or to reject it at certain price.
Now days, producers are delivering good attractive services, better comfortable products and advanced technologies in the market. Some people claim that all this advancement is redundant and nobody needs it. Continue reading

It would be an interesting research if made over the pattern, overtime, that Bollywood movies have illustrated individuality and portrayed the relation of individual and society. Obviously, just like any other form of art, the movies also depicts the appropriate nature and situation of the society of that era but some art forms not only depicts the current situation of society, but also succeeds in providing a new trend a new idea for the society to be leaded and made practical, and such movies becomes the masterpiece. Objectively speaking, Art is a careful re-creation of reality according to an artist’s metaphysical value-judgements. Obviously, that selective re-creation is not meant to depict the things as they are, as Aristotle said that fiction is of greater philosophical importance than history, because “history represents things as they are, while fiction represents them as they might be and ought to be.” Continue reading

Indian government declared Education as a fundamental right for all Indians on 1st of April 2010. Was it a fool’s exercise on the April Fools day? It seems so.
By staging education as a fundamental right, government obviously insured a very well crafted vote bank issue based on altruism that will keep the ruling political parties in good colours. Political parties will not only gain votes over the issue, rather the government will also gain a further seemingly appropriate cause to rob the wealth-producers by means of taxes to implement all the required infrastructural development programs for the fulfilling of the dream of “Education for All”. Certainly, that will provide a vast canvas for further scams and swindles in the infrastructural development sector. Thus, for the political parties with their political motives, education as a fundamental right looks pretty good. There will be many new government schools that will provide governmental jobs for many Indians in education sector. The problem is will the new schools overcome the failure of the already existing governmental schools? Continue reading

With its current status of world’s largest producer of engineers and IT technicians, Indian government is now striving for implementing the technology in its administrative set-up and for doing that, the ruling class of India (The Politicians) have planned a grand program of provision of ‘Identity’ to all citizens of India through yet another identity card, although the new proposed identity card will be a ‘little smart’. The rulers feel that by tuning the system with the help of technological assets, they will win over the heart of young voters, further they suggests that the new database of identity cards will provide an efficient way to curb corruption involved in its various welfare programs, yet another propaganda the politicians are spreading is the use of Unique Identity Card for the prevention of crimes and terrorism. So here, we will discuss the worth of the program UID that grabbed Mr. Nilekani from his INFOSYS success and converted him to be cabinet minister rather than an entrepreneur. Continue reading

When Indians must oppose reservation based on Caste, religion and birth, the politicians of India has forced Indians to think about reservation based on gender too.
The major humanitarian idea of no differentiation based on caste, creed, sex, religion, colour, ethnicity has been abused and the trend of specific privileges and entitlements for the gain of political vote banks has been enhanced. It is the process of weakening of Indian Individuals and the Indian society as whole, but the major victims will prove to be women alone. A woman full of ambition does not need any reservation to prove that she is able. By providing her reservation, it has been virtually proved that she is not able and she lacks ambitions. Continue reading

A free society by definition is the society in which, each individual, i.e. the basic unit of the structure of society remains to pursue his personal pursuit of happiness, where he is free to achieve his most using his talent and hard-work and saved resources. Obviously, such a society depends on rational pursuit of self-interest and provides full freedom for the individuals from the shackles of social responsibility or altruistic motives.
Often socialists claim that such a free laissez-faire capitalist society will turn out to be a system of dog race where no one will look for the poor, the impoverished an the depraved. Furthermore, socialists claim that for a poverty-free society, compulsory altruism is most necessary, where the producers and creators who can produce wealth, must be forced to pay for the living of the poor and depraved. Continue reading

The Article 7 of the Human Rights declaration suggests that
“All are equal before the law and are entitled without any discrimination to equal protection of the law. All are entitled to equal protection against any discrimination in violation of this Declaration and against any incitement to such discrimination.”
The law is supposed to be enforced uniformly, and without any discrimination against the guilty based on their economic and social background.
Yet recently, the Indian Apex Court decided to go against the Universal Declaration of Human Rights.
On Monday, the Supreme Court said that the courts should consider the economic status of a murderer before sentencing him to death penalty of life sentence even in cases of crimes falling in the category of “rare of rarest”. Continue reading