Essay on india is a rich country inhabited by poor
Answers
The problem lies not with the scarcity of resources but with the concentration of resources. A major part of wealth in India is accumulated by a small group of people.
For instance -
There are approx. 50 billionaires and 1.75 lakh millionaires in India there combined wealth is 9 times than yearly budget of India.The top 1% of the country’s population hold 58.4% of its wealth
This is a serious problem which has intensified even more after globalization.
It is true that the wealth of India has increased manifolds since globalization but the reality is that it has been accumulated by a small population of the country, a large population is still deprived of any substantial benefits to be drawn from globalization. Although with the technological revolution, poor are also getting hold of the latest technologies coming in the market but they are still lagging behind the richer section and their overall conditions has not improved much.
Their is no doubt that economic reforms of 1991 has done wonders for the country. We have come a long way from the stagnating economy, growing at the snail pace of about 2–3% every year before the reforms.
Answer:
INDIA IS A RICH COUNTRY INHABITED BY POOR
India is a developing country. It is marked as second in the terms of population. It is a culturally rich country and believes in the term unity in diversity. Not only just culturally, but India was also always known for its resources and has been ruled by many foreign kingdoms for centuries.
India is economically backward compared to developed countries. The phrase India is rich but inhabited by poor. It is simply because India lacks in terms of proper infrastructure. They have the resources but not proper technological advancement for optimum use of resources. The issue is not that it is not well resources and can not import but economically not well to do. Due to the population, the money is not equally divided; a major part of the population is uneducated. It is also noted that only 1% of the country’s population holds 58.4% of its wealth.
India has evolved over the ages but it is not completely evolved yet. It has advanced in science and technology but still is behind in terms of economy. The inflation rate is higher than the income of the people living here. Not only just that, not everyone has the resources to grow monetarily and with the population increasing every day, the GDP also does not raise the amount it should.
To know more about India, click on the link below:
https://brainly.in/question/3040449
To know a detailed description of the Indian constitution, click on the link below:
https://brainly.in/question/12839332