Governance and taxes
The GST is a massive push and by 2018 things would be ironed out and settled. If the go nment wins in 2019, it would be emboldened to do further big reforms like GST, bankruptcy reform and real estate reform [The Modi Go nment's Reform Program: A Scorecard] and India may become third-largest economy in next 10 yrs: HSBC
India has been adding record number of bank accounts recently and entered the Guinness books for this achievement [India makes financial world record as millions open new bank accounts] and this is causing a massive change in financial inclusion [‘India is a hotbed of financial inclusion’ ] and the remaining 19% of people who are still unbanked would be banked by 2022. The financial inclusion again helped by internet connectivity would allow farmers to both deposit and take loans - Jan Dhan at Three: Need for Linking Financial Inclusion to Socioeconomic Development
The birth rates are falling and by 2030 and given the falling fertility rates our birth rates would be quite low by 2030. With fewer children, more information and more transport connectivity India can manage its children substantially better than what we are doing now and can double up our good efforts in the recent past. India’s child mortality rates declining: Lancet. With fewer children and more resources we can educate them much better.
By 2030, we will have demographic sweetspot - few children, few old people and a lot of people in the middle prime of working age. That is when the GDP growth will rocket [by 2050, we will start ageing and have to worry about the same stuff Japan and are having now].
Over the past two decades we have worked successfully curb te rorm [South Asia Te rorm portal] and we are among the rare few regions of the world where te rorm has decreased rather than increased. We have not had a major riot in a long time [List of riots in India] and unlike the 1980s-90s when Punjab, Tamil Nadu, Assam and J&K had massive issues, we are no risk of civil war. We don’t have wars, civil wars, major secession movements or bombings. This unprecedented peace is why we can push the big things and why our media can afford to report on little crimes.
By 2030, most of our population would be past the lowest levels of Maslow’s hierarchy - food, clothing, shelter, ricity, transportation, safety and Internet.
That is when India can push its core strengths - of its vast diaspora, of its great higher education institutions and its core cultural strengths supporting innovation.
I cannot wait to get there. I was born in a poor country. I will not die in one.
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