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India is a Third-World Country. It is a developing economy. It started out as a mixed economy. However, Post 1991, India has been moving towards capitalism with gushing force. Liberalization and globalisation opened Indian economy. Opening up sectors for foreign direct investment (FDI) has attracted great investment and employment opportunities. Liberalizing FII (Foreign Institutional Investor) norms has helped in easy availability of capital. There has been an easy availability of loans. Our GDP growth reached 9 per cent. The real estate market is blooming. Our industrialists bag awards for the wealthiest persons in Asia and world. We are growing into the fastest economies of the world. But does this achievement take into account Gandhi’s talisman?
Even after 60 years of independence we are unable to address the problems of poverty, education, housing, food, sanitation, etc. According to reliable economic sources, over 250 million people in India lives below the poverty line, over 300 million people are illiterate, there is a demand of millions of houses but most of it is not satisfied, almost 80 per cent of population in Mumbai lives in one bedroom-cum-drawing room house, over 25 per cent of our country’s population does not get clean water and proper sanitation. Most of the rural areas, which comprise almost 70 per cent population of India and include over 6.5 Lac villages, are under developed. The growth that we observe around us is lopsided, helping rich getting richer and the poor getting poorer. All these are the results of excessive capitalism and reliance on industrialization and urbanization. The trickle-down effect did not work. Social welfare schemes like NREGA, Sarva Shiksha, Abhiyaan etc. implemented by government are not serving the desired purpose. In an interview, Congress member Rahul Gandhi also admitted that out of every hundred rupee

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