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Friday, October 12, 2012

Can Indian economy afford to have such a huge population?

Life expectancy is increasing

Not only India's population is increasing but life-expectancy of citizens too increasing in tandem.
This means more senior citizens to take care of.
As most senior citizens don't work and their earnings is limited to pensions and savings only, providing them financial assistance and healthcare facilities is very necessary. Senior citizens are most hurt by the falling interest rates as they predominantly invest in debt instruments. But for a growing economy like ours 'low interest regime' is a sought-after thing, providing financial sops and tax reliefs to senior citizens especially during such period will be an inevitable task.

Indian cities may be abundant with doctors but doctors are difficult to locate rural areas as many a doctor refuse to practice in rural areas.
Health spending in India is supposed to become 1.58 % of the national GDP and time will tell, to what extent scarcity of doctors in rural areas shall be sorted out?

Food grain production is lagging behind the population growth and therefore serious 'farm sector reforms' will be necessary to feed the country population.

Indian economy runs on the imported crude. About 80 % of our oil needs are matched by the imported crude but domestic production is not increasing proportionally.
Faster capacity expansion approvals and less stringent laws for oil-exploration companies are need of the hour. Explorers are KG-D6 basin and Rajasthan should be encouraged to ramp up production.


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