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Indian Economy
Indian Economy
CONSOLIDATION OF BANKS
In India, the UPA government was all for it in its previous term. It
was loudly thinking about this from the beginning. However, all in all, it
did not do much about the whole affair then as its hands were tied by
its close links with and support of the Left wing parties. However, it
looks as if it will do something about this time, as it is free of
constraints of the first innings in the second term.
Since the monkey is truly off the UPA’s back this time and it is
thus capable of following its own policies, things may turn really well
this time around. Its previous term saw only one event with respect to
banks namely the takeover of the Bank of Saurashtra by the State
Bank of India.
This was seen as the first step at the time in the catalogue of the
UPA to do something big in the banking sector. However, the
Government did not follow this up with other acts and thus no great
changes were affected in the Indian economic sector last time. Protests
by the staff of the subsidiary banks against merger with the SBI were
also responsible for this inaction at the time. However, it looks as if
some changes may take place this time around and the UPA
Government will bring some concrete changes this time in the
economic front of India.
DISINVESTMENT
Air India has got itself into quite a big mess by the economic
recession. With the economic crisis that has shaken the world from
head to toe over the last few years, it has been quite a roller coaster
ride for Air India. Air India faces what has been called as the biggest
crisis in its history. Whether it will survive the crisis is a big question
mark. In order to some how improve the situation, Air India merged
with the Indian Airlines, the domestic carrier, to decrease the overhead
expenditures. But, to no avail.
MONSOON
FOOD SECURITY
This is mainly seen among the poorest of the poor, the people
who form the lowest strata of India’s society. These people are mostly
seen in tribes. Some of these whole tribes suffer from lack of food. This
is not some thing new in India. In India throughout the ages, one can
see great famines, which killed a very large amount of people and
have thus reduced the population of India quite a lot.
These famines were all very horrendous. However, the Indian
government has taken it upon itself that it must somehow end this. It
has decided that it will some how make sure that every person in India
will be able to avail him or herself to some food.