Headwinds for the economy, but there's a silver lining

Just 20 years back, the average Indian would have known pretty much nothing about the economic state of the country or the world, and even cared less about it. But the last 10 years have changed that so much that now almost everyone one meets is worrying about the impact of the current economic slowdown on their lives. At the very least, the economy is now racking up the worry quotient in Indian society.
That apart, the economy is a cause of concern. The boom, though most of it powered by the black money flowing into sectors such as real estate, is slowing visibly. The job scene is getting cloudier by the day -- today someone called me from Delhi to say the Times group is planning to fire 1,200 people. Well, even the media scene which showed so much irrational exuberance is getting dark. How will this impact the country and its people?
Of course, not everything is going to be bad. Here are two areas where I think the slowdown is going to be good. Think of the ecology. For the last 10 years we were more interested in exploiting to the hilt what Mother Nature had offered us. Now, the slowing down of the economy would mean the pace of exploitation would slow down too. That is going to be definitely good for the earth and its environment.
Also in the last 10 years our politicians have managed to get away with their corrupt and inept governance of this country as the boom offered jobs and riches to more people than they ever could hope to. Now things are going to change. Once again these effete class of people will come under the scanner; if they don't deliver (and I very much doubt they can), it won't be long our ossified political system could be washed away by the rage of the people.
Will all this lead to a new way of life? I hope it does. If we have to suffer some pain for something that is going to immensely benefit all of us, all living beings, then it would be something worth suffering.

Crossing The Rs 12 Red Line

I started this blog to express my views about happenings in India but have been concentrating lately on Kerala and the theatrics happening in the state's political scene. But something has jolted me back to focus on my original goal.
There is this government-commissioned report that says 836 million Indians live on less than Rs 20 a day, or about 50 cents in US dollars. That figure comes to around 75 per cent of the Indian population. And some of them are not even considered poor by our government or planners because our own poverty threshold is around Rs 12 a day! Now, which one of us can survive on Rs 20 a day, let alone Rs 12? Still millions in this country lead such a terrible life.
The silver lining in their lives is that living standards and income levels are increasing and, if not they, their children can hope to be out of this terrible burden on their lives.
But it is not an easy road to that destination. Because, for one, the current rise in incomes is due to a strong global economy and outsourcing boom. The first one is already under threat with hedge funds and speculators trying to spoil the party. The second one, too, is not going to be there always. Because of job pressures from the West, and because our own politicians are trying to make life difficult for companies that are tapping into outsourcing in India.
I run such a company, and I cannot explain how much I am perturbed by the frequent stop-works and strikes our political parties indulge in. I am answerable to my clients and I cannot tell them every day that "oh, we got a bandh here".
There is a vested interest for the political parties here to see the poor remain poor - as permanent vote banks. So they don't care about raising them above the Rs 12 red line of poverty.
Just think of this: which of our politicians, including the Communists, would be able to survive on Rs 12 a day? But then, the poor have no voice!