6. India could be 40 times bigger by 2050, and
may also have the potential to be larger than
the US by that time. To achieve this, however,
India needs to implement many changes.
These are the findings of a global research
report on 'Ten Things for India to Achieve its
2050 Potential', brought out by Jim O'Neill,
Head Global Research at Goldman Sachs,
and Tushar Poddar, V-P Research, Asia
Economic Research Team at Goldman Sachs
India.
The reports lists a number of things for India
to do, such as improving its governance,
controlling inflation, introducing credible
fiscal policy, liberalising financial markets
and increasing trade with its neighbours.
'Delivery of all these and more would ensure
strong, persistent, medium-to-long-term
growth, allowing India to reach its amazing
potential,' it says. Here are the 10 top
challenges for India
10. Control Inflation
• For a nation that is rightly proud of its democracy and has a
history of reasonable stability in terms of inflation, formal
Inflation Targeting (IT) should become a centrepiece of a clearer,
more defined and credible medium-term framework for
macroeconomic stability. As part of this, greater independence for
the Reserve Bank of India and the abolishment of all FX controls
are recommended.
We are well aware of some of the difficulties, both real and
perceived, for India to adopt these choices, but it is in India's best
long-term interests to undertake these steps. IT has given major
benefits to a broad variety of countries, ranging from 'developed'
countries (such as New Zealand, Sweden and the UK) to
'developing' ones (such as Brazil, Korea and South Africa). For
India, there are probably broader powerful benefits.
14. Religious Violence
• Constitutionally India is a secular statte butlarge-scale violence have periodicallyoccurredin Indiasince
independence.In recent decades,communaltensionsand religion-basedpoliticshave become more prominent.
In Jammuand Kashmir.Since March1990,estimatesof between 250,000to 300,000panditshave migrated
outside Kashmir due to persecutionby Islamicfundamentalists in thelargest case of ethniccleansing since the
partition of India.The proportion of KashmiriPanditsin the Kashmir valleyhas declinedfromabout 15%in
1947to,by someestimates,less than0.1%since the insurgencyin Kashmir tookon a religiousand sectarian
flavor.ManyKashmiri Panditshave beenkilledby Islamistterrorists in incidentssuchas the Wandhama
massacre and the 2000 Amarnathpilgrimage massacre.In 1990s,violent attackson Christiansin India were
reported.The acts of violence include arson of churches,forcedconversionof Christiansto Hinduism,
distribution of threateningliterature,rapingof nuns,murder of Christian priestsand destruction of Christian
schools,colleges,and cemeteries.The Sangh Parivar and related organisations have statedthat the violenceis an
expressionof "spontaneousanger"of "vanvasis"against"forcibleconversion" activitiesundertakenby
missionaries,a claimdescribed as "absurd" and rejectedby scholars. Between1964 and 1996,thirty-eight
incidentsof violenceagainst Christianswere reported.In1997,twenty-four suchincidentswere reported.In
2007and 2008there was a furtherflare upof tensionsin Odisha,thefirst followingthe Christians' putting upa
Pandhalin land traditionallyusedby Hindusand thesecondafterthe unprovokedmurderof a Hindu Guru
and four of his discipleswhileobserving Janmashtamipuja.Thiswasfollowedby an attackon a 150-year-old
church in MadhyaPradeshand more attacksin Karnataka.
15.
16.
17. Role of Youth
The role of youth is of most importance in
today’s time. It has underplayed itself in field
of politics. It should become aspiring
entrepreneur rather than mere workers. It
can play a vital role in elimination of
terrorism. Young participation is important
because youth are the country’s power. Youth
recognize problems and can solve them. Youth
are strong forces in social movements. They
educate children about their rights. They
help other young people attain a higher level
of Intellectual ability and to become qualified
adults.
