Essay – Crisis faced in India – moral or economic
Crisis faced in India – moral or economic Essay: India has been the Mecca of both morals and economy historically. It caters for the holy ground of various religions such as Hinduism, Islam, Buddhism and Jainism and ascetic sects such as folk and Sufism. As a nation with morality as its pillar, India provided the world with the Gita and Vedas which are annals of moral and spiritual guidance. India had cherished a dominant economic status prior to the British Colonization in the 17th Century with 35% of the world’s GDP. Despite India’s glorious past, its moral and economic status has degraded.
Discussion
According to the reports of The Oxam initiated at the World Economic Forum in Switzerland, India is currently facing a huge drift between the affluent class of people and the unprivileged sections of society. The rate of billionaires in the country has risen by 12% in 2022. On the other hand, the less privileged classes witnessed a decline in their wealth by a sharp 11%. The inequalities between the two broad classes are broadened by the Government’s inefficiency to invest in public welfare services such as healthcare, and education, inefficient taxing of the affluent classes and prevention of tax evasion. India’s Gross Domestic Product (GDP) has dropped to 5% in the last year and the unemployment rate has been below 6%, the lowest in the last fifty years. India’s economic situation is further worsened by shortages of food with the heavy scarcity of basic necessities such as rice and pulses. Food Inflammation is at an all-time high with rates reaching approximately 8% last year. In addition, around 50% of Indian Graduates are employed but at very low wages. The old Indian Proverb, “ Indian farmers are born in debt, live in debt, die in debt and are reborn in debt “ has become a reality with an estimated thirty-one farmers committing suicide per day.
India is called a motherland, where most worshipped deities are perceived as mother goddesses. The treatment of women in India does not reflect the same devotion towards Goddesses. Over the last decade, around four lakh rape cases have been reported. The most gruesome of reported events include the Hyderabad and Delhi rape cases. The abolishment of women undergoing the menstrual cycle in temples seen in the Sabarimala case is an instance that proves the regressive treatment of India in contemporary times. Despite national reports suggesting that women’s contribution to the economy may facilitate growth in GDP by 60% poor treatment of women, both in public and private accounts for India’s stagnant GDP. India’s GDP is at a constant decline as tax evasion as high as INR 75000 Crores are reported each year. India’s crime rate in its capital alone accounts for has sharply risen from 1342.5 to 1586.1 according to the incidence of crime per 100,000. Delhi’s crime rates are 4.1 times higher than the national average.
Conclusion
To conclude, India’s moral and economic rate is congruently declining. The decline in morality is visibly declining with the economy. Crime rates such as tax evasion, rapes, low employment rate are consequences of inefficient law and order. India, once a nation considered to be the holy grail of moral and economic enrichment has become a nation bereft of a prominent cultural or economic status.
FAQs related to Crisis faced in India – moral or economic Essay
Q1. What is India’s economic gap?
Ans: According to the reports of The Oxam initiated at the World Economic Forum in Switzerland, India is currently facing a huge drift between the affluent class of people and the unprivileged sections of society. The rate of billionaires in the country has risen by 12% in 2022.
Q2. India’s GDP has declined by what rate?
Ans: India’s Gross Domestic Product (GDP) has dropped to 5% in the last year and the unemployment rate has been below 6%, the lowest in the last fifty years.