Economic History and Current India Essay

there exact been new-make studies of the total history of the economy of india where it is possible to ananlyse where india stood its protrude in past and where it is watercoursely held. capital of Minnesota Birog made a thorough analysis of Asian countries gross domestic product stinting development of 1750-1918 where surprisingly the findings in 1700AD displace economic statistics of mankind race . China had 32. 8% gross domestic product where as as india had 25% . UK at that m had 1. 8% gross domestic product along with 1% GDP in regular army.By the quantify of 1900 in that location was a total reversal of paradigm shift where US and UK had GDP growth of 41% whereas China and India suffered 1. 7% GDP over t forth ensemble. The horse operaward research shows that india was a economic giant . London economist Angus Madisson in 1990, one of the greatest british economist of any time was appointed by the OECD nations to verify Paul Birogs research along with differ ent levels of assistances from different countries. lastly in 2010 he published a 2000 stratum economy of India where it showed from 1AD India topped thed world with 34% GDP. lifelessness in 1000AD it had 28% GDP. In the years 1500 and 1600 chinaw be overtakes india. Again in 1700 india overtakes china and finally the built-in crash of the Indian economy began later in 1750s where the british colonial overlords landed in the expanse and started looting the country and exploiting its resources. The OECD website refers in the world economic history and millennium perspective lists off all these information which have been quoted before. It is one of the approximately trusted and relied upon website to refer to the statistics of the world economies.Although the word fiat is absent completely in western caller where Marg aret Thatcher said in 1971, that there is nothing cal conduct as society. And today all the western accepts today is the riff version of so called well-bred society. Now civilian society is totally different from the handed- experience society where it can be suggested that it is a form of anti society. Civil society which is the current western trend is found on social contractual theory, which all the institution are based including out democratic government where each citizen is recognized as co-citizen in country rather than mutual join based society.For eg. In USA, in Philedelphia, a give-and-take can file a case against his receive father for divorce of relationship and can touch his claim since there is no cultural society, it is a civil society where 2 mass are viewed as co-citizens rather with any blood and social relationship. The complete western understanding, their institutions, sociology, individualism, constitutional theory of west does not recognize normal underlying human relationship. But whereas our Indian society has always been operative entirely on human relations since the ages of time where india showed a huge economic superpower with traditional society.Today since Indian government which is puppying rough the western ideology fail to realize that they are winning the economy of the nation into a huge catastrophy. In 1993, when Manmohan Singh was the finance minister invited jagadish bhagavati a neo economist from USA, who formed the entire Duncan WTO treaty for the smear crisis in india with its economic situation. He suggested that the problem with Indian plurality is that they are saving more than need which comes around 23%GDP,out of which 19 % GDP were only protected by Indians.His advise included to bring down the nest egg of the slew by different actor of taxations and other techniques to 9-10%. Out of which this 9 -10% should only be focused on food, shelter like basic needs and increase productions by employing more flock and made a whole theory moulding on that. His theory on Indian situation stated that unless you destroy the family saving of the Indian peopl e and bring it down to half of it, there was no chance of development. He also made a research on the Indian families that Indian char played a vital role in taking hold of the savings of her family expenditures.So his ideas proposed to compound the mentality of the reserved family womanhood to consumer based woman where she can be advertised to spend more of our money and change the family structure symmetrically in Indian society. In western society there is no propensity to save money assets, then as a result many families are destroyed. Today 51% Americans are single kindle family, out of which 41% children are born to single mothers, 20% born for school going children. 51% of the American people are dependent on government support on life insurance, health support etc. where as Indian people have always been dependent on society.moreover the western economy is build on contractual interest based constitutional society which has led to time bomb ticking economy is USA and other European countries. Today the present scenario has changed the entire habitual thinking process of the people in India. They have a huge affiliated bed towards the western society and its features less realizing the suicidal catastrophic and destructive features of its empire. The govt. in India always claim to be globalizing with the world except in reality, india is Americanizing by concentrate only on American economic example. in that respect are other traditional society based economies like Japan and Germany wherr they instead of manipulating the crowd, they motivate their savings in their family and encourage only the financial institutions to ensnare up money in trades of stock market. in that respect is a huge commonality between the german or Japanese structure of economic history of rich cultural based society which our country could have adopted for the people but current democractic model is partially by the people but it has terribly failed to be for the p eople by inviting the civil society in our country.Indian economies,constitutions, institutions,sociology, philosophy, education etc all are based on the government economic blueprint of those same people who looted the country, colonize it and then destroyed the Indian GDP. CONCLUSION There are fraternity based economic models in this world with which we share commonality and our ideas should be to have a wider understanding of the world with whom we relate culturally and socially and only then our economic model can be aligned to them to achieve successfulness and serenity in our country.