There is a remarkable chasm between the globally competitive and Information technology rich India and the India of the very poor and the marginalised majority. In fact this great segment of human habitation should have been a wider market opportunity for Indias economic development. For achieving such mighty advancement it is crucial for the majority poor to have an easy access to a credit system in order to escape poverty. Unfortunately caught between dishonest money lenders and oppressive landlords most poor cannot escape from the stronghold of poverty without having a popular credit system for the poor. We need to put greater emphasis on creating wealth and the incomes for all rather than distributive justice without wealth that breeds poverty by itself.. At the same time we must be deeply concerned about inequalities in income which has increased in the last 50 years. The Central Government has wasted Rs 35000 crore annually on subsidies of every kind and on various rural employment schemes - on electricity food water housing and other necessities - which were provided with a view to ensuring economic justice. In reality subsidies have turned into entitlement. We have thereby promoted dependence on doles and passivity. Over the period subsidies in effect have become a hindrance to Indias economic development and growth. Beneficiaries know very well that grandiose poverty alleviation programmes have not ended poverty. Still the government continues to pour money into them. The economic development programmes have failed because of corruption inefficiency uncaring officials redtapism and nepotism due to the shortage of resources. In India be- cause there are too few jobs and too much competition nepotism becomes the means to achieve the goal.
.png)
.png)
