The Dark Side of The Incredible Indian Economic Boom
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- เผยแพร่เมื่อ 7 ก.ค. 2022
- India is the fastest-growing economy this year and has been one of the fastest-growing economies of the past decade. But while the economy is booming, polls and surveys show that Indians themselves believe that their personal economic situation is getting worse - but how is that possible?
Disclaimer: This video is in no way meant to be disparaging towards India or Indians. Its purpose is to provide an insight that goes beyond media headlines and highlights aspects of its economic growth that tend to be overlooked.
Referenced data:
worldhappiness.report/ed/2022...
news.gallup.com/opinion/gallu....
unemploymentinindia.cmie.com/...
wir2022.wid.world/
restofworld.org/2020/india-en...
www.outlookindia.com/magazine...
www.bbc.com/news/world-asia-i...
www.nytimes.com/2022/06/13/bu...
theprint.in/india/governance/...
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India before 1991: suffering because of bad socialism. India after 1991: suffering because of bad capitalism.
The solution should be something in between. Capitalistic, but with healthy regulations and taxes on the wealthy.
@@Rainbowhawk1993 yep this is the ideal economy for all countries
@@Rainbowhawk1993 but wisdom is rare especially in identity politics ridden circumstances as she faces today
It's already rare in peace times and even more so in quite times
In times of awful politics wisdom ceases to be a thing in the last place
India: suffering cause bad caste system
@@croatoan-t-g well yes that was true but now atleast 85% of the youth does not participate, propagate or perpetuate it in any form whatsoever
The problem is that 10 to 15 percent of medium middle class poor and older people still discriminate
But on a grand scale it ain't a huge barrier to progress anymore
Treat India like a continent (there are Germany and Scotland here as well as eastern European hell holes)
Most of India is not backwards (atleast not because of caste system anyway)
One thing you have missed is that India's growth has been led by service sector not manufacturing like in case japan, south korea and china. Service sector doesnt employ all that many people and hence the unemployment.
Manufacturing sector even comparing Japan ,india will have higher in number of employees ,, services sector can hold many employees than manufacturing ,,but still india's population,,
@@dhineshkumars1991 stop blaming population ,population is most value recourses for the any country's development. Only a bunch of baboons say that. India's population is India greatest asset .problem is u guys have no idea how to get benefit from it correctly.
Both Japan and South Korea also faces an unemployment crisis.
@@spinyslasher6586 and they rapidly shrinking population as well.situation is becoming so bad that young and old generation proportion is now totally becoming lopsided .
SIR PLEASE STOP THIS FAKE NEWS! WE INDIAN ALWAYS VERY HAPPY AND RICH! 😠 😠 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER SCAM, WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
Man you deserve a medal. I live in india. And not many foreign people seem to understand what the problem really is. You summed it up perfectly.
But he said uttar pradesh
@@R_.709 arey bhai poore india ki aisi taisi hai. Inequality ki wajah se hai ye sab
@@presidentrepublic2479 but in america there is equality right .
@@madhavkrishna2287 krishna ji. Dont get burned up. America is most inequal country in the world. But the video was about india so i wrote a comment on indian economy. Bhakt banna band karein. Kisi bhi political party ka bhakt mat baniye. Wo humare naukar hain unse kaam karana seekho unko apna baap mat banao. Dimag se kaam lijiye.
@@presidentrepublic2479 wow it your comment shows who is real bhakt . when compared to european countries african countries indonesia malaysia australia we are in a decent position . ye khopdi me mitti nikal ke dimag download karo.
You explained it very well. Neither government nor the media, for obvious reasons, would show this true picture of the state of economy at the ground level. As an Indian, I was always being fed with only positive news around the growth and economic boom but I never saw that level of positivity and happiness on the ground.
Sometimes I see average person online who get extremely upset when you show what is perceived to be poverty or not as nice as the nicest areas of Mumbai, Delhi etc even though those area represent the way most people live. Indians need to demand more of our politicians and even civil servants. We need more investment in infrastructure and education aswell and need to hold those who steal from public funds accountable
That is the first sign of authoritarian regime
@@mezomoza7 No no,you don't get it. Media report on this issue A LOT. But they just blame the govt. The media once blamed meat prices set by the govt for high income inequality. Objective journalism is dead here.
@@ishikinokami1575 People outside india aren‘t stupid, we have internet and we watch videos of real life in India, recorded by Indians
@@mezomoza7 People outside aren't. You certainly are 😇
Indians are unhappier now despite the economic growth because much of that economic growth is not transformed into better public services. So the economic growth simply stretches all prices up without really making any quality growth.
That economic growth was only for the few while for many it is wage slavery often with some form of debt attached such as student loans which is true for many of the young around the world. India should be a wake up call to those in more prosperous nations of what is coming their way.
Yeah most of it is going in pockets of rich and politicians. There are some projects initiated by Indian Government which are good but that's like offering peanuts when the need is of full course meal.
Every country:
Agriculture >manufacturing >service
India
Agriculture > service.
Indians have socialist feti$h. North Indians are the great example. Everyone wants government jobs. Meanwhile Maharashtra, Gujarat, karnataka and tamil nadu are rich because of capitalists, industrialists and entrepreneurs. Mind u Karnataka alone contributes more than 50% FDI inflow in India. My father came out of poverty due to IT BOOM
Indians have socialist feti$h. North Indians are the great example for that. If you look at Maharashtra Karnataka Gujarat and Tamilnadu, they are rich because of capitalists and industrialists. In North India everyone want government jobs they don't want become entrepreneurs, industrialist and capitalists. Mind u Karnataka share 50% fdi inflow in this country.
@@nknkannadiga9742 wow thats good information. If we include Kerala, then that makes he entire Western coast. Hmm much like the US. The American Western half is responsible for almost all new money created.
In india education is like a RAT RACE , if you don't get into top institutions you are doomed ...
There's so much competition for a seat in a good University or even for getting a good job(not even the best) the competition is ridiculously tough ...
"if you don't get into top institutions you are doomed"
Unlikely.
JEE and NEET are not the end of the life. You should come out of that mindset.
@@heatengine9283 that's a rouge statement ... Not everybody does engineering... There are accounting, commerce, finance students as well& in finance your University/bschool reputation matters a lot.. you can't get into an INVESTMENT BANK or a HEDGE FUND via just developing SKILLS ... Yes in COMPUTER SCIENCE field you can get into a Google or get a high paying job without a great University in your grad or under grad just by developing PROPER SKILLS but that's not the same in finance, management consulting domain, you'd need a good Bschool to land such jobs ...
I'm not even talking about state PSC,UPSC , BANKING exams these exams are another level of shithole ...
@@tejaswiguttina3144 so you are saying you are using the competition as a scape goat to your pathetic life where you fear hardwork and instead use the victim route
@@avigupta8801 use your BRAINS , you can't have a single uniform exam to determine whether a particular student deserves a seat in a university... Get out of this rotten mindset that hardwork fetches sucess , hardwork doesn't equate to sucess ... You do hardwork and crack UPSC,i bet you won't be able to do it because there are 1 million people competing for 700 job openings , don't tell me that only the 700 people who get the job do hardwork & remaining 9,99,300 people don't do any hardwork so they deserve to fail , if you are of that mindset that no one can fix your thinking... The thing is suppose there are 10job openings in India there'd be 500 people applying for that job... You cannot be the BEST AMONGST all , you can only be the BEST VERSION of your self .... The problem is in India unless and until you are better than others in all regards you can't get a great job(especially in Non-IT sectors) ...
@@avigupta8801 their is a difference between reasonable competion and exterme competition.
In government exams , you have to be better than dozens of people to be get a vacancy. Its fine to beat 2-4 people , but dozens of people is difficult for normal people
As an Indian I think this video is pretty accurate, good research. The main problem is the growing inequality which makes the problem worse easily.
Only ambani and adani is happy
THIS
Sorry to say...dont feel bad...But I have a unique Idea...divide India into 2 or 3 small countries and then those countries can develop on their Efficiently. That will be Beneficial for all.
@@Student17625 Why don't you become Ambani? Then you can be happy too.
Welcome to capitalism.
I have pretty average expectations for my country. Even a decade ago, we were discussing changes in the education system, bureaucracy etc. and I guess even after a decade we'd be discussing them.
I don't think so when BJP changed a lot for our next generation in terms of Education
@@ChandranPrema123 Are you talking about the new education policy?
@@manojbhat1440 yes😂
@@ChandranPrema123 yeah that revolutionary step bro😅
Bfraghmin quota people are responsible...
There is only one reason for unhappiness: Competition.
There are just so many people fighting for the same job, that you don't get paid enough. Highly qualified engineers in Amazon India on senior levels are paid not even half of what they would be in Amazon US at entry levels.
Inflation isn't going down, the cost of living is increasing but the salaries can't catch up. That's the issue. Because of high education and the high population, there are always a hundred other people ready to grab your job if you leave. You don't have as much value as you should.
Indian is never going to change until you see everyone equally. Caste system creates so much problem from education to jobs. Remove caste system and india will grow
> Highly qualified engineers in Amazon India are paid not even half of what they would be in Amazon US.
India is one of the cheapest countries in the world to live in. Hence the wages are not that high when compared to US. At the same time if you mean to say, being an engineer at Amazon India is not worth it, then you're absolutely wrong. They pay so high in India, that I would wager that the average engineer in Amazon is among the top 2% salaried person in India in all sectors combined.
@@anjith that is true. I think the comment about Amazon India was made to show the level of competition.
SIR PLEASE STOP THIS FAKE NEWS! WE INDIAN ALWAYS VERY HAPPY AND RICH! 😠 😠 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER SCAM, WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
@@indiasuperclean6969 Are you 5 years old?
The problem with India is most of the this economic growth is brought by service sector
Which employs few and highly qualified people
Indin policymakers never focused on manufacturing which employs unskilled labour in mass scale
manufacturing needs big capital investment in machineries and technologies, as well as competent engineers/technicians,
And workers need to be skilled.
The socialists and commies only were against manufacturing and capitalism. Now manufacturing will happen without Indian workers.
Nope. Service sector holds far greater employment potential than the manufacturing sector. With the manufacturing sector, humans are competing with machines and robots which will soon render human labour redundant. I would still prefer a human to serve me tea at a restaurant.
@@krishnanunnimadathil8142 ironically, robots have already taken over the resturants in big Japanese cities
As an Indian, the most common thing I see here is that the rich get richer and the poor get poorer!
50% of the rich getting richer is cause they know how to make money manage business and all and most of the poor getting poorer is cause half of them are satisfied in what they are doing, it’s not the system that we need to change, we need to change the perception of people poor people in our country simply lack ambition.
@@akarshanmishra2351 correct brother
That statement is based purely on emotions, not facts.
I am an NRI who travels to Mumbai in December to avail himself of beautiful girls that my dollar can buy. life is damn good for us rich folks!
@@defaultworkouts hahaha good for you man
Indian here.
Rich getting richer. Poor getting poorer.
Amazing country with lots of potential but still lots of work to be done.
That's not true its part of the problem what you said they are both getting richer but at a very slow pace.
Nehru hit the rich and look where it got the poor.
Bro No One is Going to hand you a job in a silver plate. You have to work hard for it . Rich did get rich because of their dad's wealth they have earned it (accept the politicians).
You can't be rich if you don't know how to make use of the money correctly .
Just take the example of Mukesh Ambani and his brother Look where he is with double the money he inheited and anil lost it all.
Not true. My family members were poor 10-12 years ago, not even in middle class. Now we can safely say we belong to well established upper middle class. There has been rapid change in people's life in last 2 decades.
Rich getting richer and poor getting poor is lullaby used as fallacy to divert attention by certain political activists.
@@emani2704 Exactly, same. I cannot imagine if we would be able to prosper if the country was still as closed and socialist as it used to be.
I think you hit the nail right on the head with the jobs point. Only civil services, law, STEM and an MBA/CA are considered viable career options. If you try anything different, people think you are wasting your life. Especially if you are good in studies. There's a joke that if you get 85+% in the boards, even god can't save you from going to STEM. I am a school student myself. My average score is 90% and I decided not to opt for STEM. What an uphill battle it was to convince my parents and despite it being over 2 years since my decision, I still have to explain to society why I am 'wasting my life by not choosing science.' And the number of people I know who have taken STEM despite not being cut out for it is just ridiculous.
Edit: damn, this comment blew up. The replies are just wild. For all wishing me well, I extend a warm thank you. My first semester results were 95% which could have been 98% had it not been for health issues. For those mocking me, I am quite aware of the lack of opportunities. The degree I plan to pursue is one that has adequate jobs and is only growing. Yes I do agree that for many humanities degrees there are close to no opportunities here in India, but still, that does not mean no opportunities exist. And if you can reach the top of your field, you can make good money in any field. I'll not participate in an already heated debate but I'll say everyone has their opinions and makes their choices. Don't try to force yours on others. Nobody is crediting you for their success or blaming you for their failures.
It's alright kid, believe in yourself. I am from IIT B and despite being at the so called "top", i think i only did so well because of my strong economic background. I will opt for research instead of getting a job, yes people call me crazy too. The only thing we can do is work hard, increase our value and trust our judgement. Remember that hard work always pays.
I can understand completely. I got over 90 in boards and am getting my Masters in history in the UK followed by a possible phd. Still I can see people judging me when I tell them I study history 😂. They're even more disappointed when I tell them my answer to their next question- No I am not doing UPSC just because I studied history.
I was only able to study what I loved because my financial situation is better than what most people can hope for in our nation, it makes me very sad to see relatives forcing their kids into STEM.
I empathize completely.
Well sorry to break it to you but, whoever told you that only civil services, law, STEM are considered viable options, they are right about this given how I learnt this the hard way. If you want to struggle later on finding a stable career then only choose to not opt for any of these options.
@@ediwick805 You learnt History in UK, let me know if you research/work in India. Then tell us if it's viable.
@@SantoshSatvikL they already said they are from a rich family, they don't need to ask for employment they can have a nice seat at their family's business.
South Indian rural life is better than unhappy urban life. Rural life especially in south India is the best place to live in.
so true brother. the level of satisfaction is also more in south India .
@@adityadamanjodi yes bro
@@gckuldeep2004 if GDP contribution of south India won't be there India would have become like Sri lanka or Pakistan
@@adityadamanjodi lol as a north indian i can confirm it's true .
I am from uttrakhand it is also good here in North
It's so true that technical education has been severely devalued here.
I'm a civil engineer, graduated in 2021. The competition in this country is insane. Starting salaries in urban India for a civil engineer is as low as merely ₹8K to ₹10K ~($150). I have multiple skills relating to the typical job for a civil engineer, yet the job offers are laughable. I have the resources to get through this but majority of people are not so lucky.
You have to be insanely smart to get a starting salaries that are merely half decent. Not to mention how much pressure you have from your immediate family and peers to do something with your life. People who hate maths are forced to get engineering degrees because the myth of only engineering will pay your bills refuses to die among Indian parents.
Bro mai v civil engineer hu
Most engineers end up in TCS and Infosys
Bfraghmin quota people are responsible
@@Q_QQ_Q what do you mean by bfraghmin?
Ultimately, having world's largest number of engineers will help India rise faster and maybe catch up China
The problem is much more complex. I preface this by saying that a lot of what I'm about say is not going to be liked by many, but nevertheless needs to be heard. This video only touches upon one surface level aspect of India, without going into controversial topics like the culture, which is invariably an intrinsic part of any society and its growth potential. It also does not touch upon government resource allocation, which is heavily skewed in favour of military and social subsidy spending rather than infrastructure and job creation. Education is a huge issue in India. Not only does the government spend very little on education, but even the quality of education that is available in the private sector is abysmal. A vast majority of the supposedly unemployed engineers mentioned in this video cannot even realistically be called engineers because their education is sub-par and does not actually develop real skill, rather just hands out degrees based on rote memory. Something that is entirely useless in the job market. Outside of those educated in elite schools, majority of degree holding Indians don't actually have a grasp on the fundamental concepts underlying their education, this is not just the case in STEM. This is because education is merely seen as a means to an end, a piece of paper that gets you a job. And a big portion of the truly skilled leave the country entirely in search of better lives. On the other hand the government remains every bit as inefficient and bureaucracy laden as it was in the 80's. Corruption is rampant. This is most highlighted in urban planning in India, where building codes and regulations are mere suggestions that are undone by feeding the regulators money. This leads to horribly planned cities, poor construction practices, and abysmal quality of urban life. And this pattern basically duplicates itself in all aspects of life in India. When the regulators look the other way when fed some money, the quality of the products and services suffers, since there is no real incentive to maintain a high standard. Then of course there is the touchy topic of culture. India remains a deeply conservative and religious society, and any liberalisation that does not align with these beliefs is unthinkable. Individuality is shunned in India because it is a collective culture, but this also means that things such as career choices and life prospects are also collective decisions. This is causing increasing friction within Indian families where parents exercise large control in their children's lives. Currently, India is going through a deep identity crisis, unwilling to accept its islamic and British legacy, unable to realise its unrealistic desire to identify with its prosperous albeit long-gone ancient history, and undone by its inability to form a new, modernised identity. Indians look to the past for identity and blame the islamic rulers and the British for all their problems. While the reflection is warranted, it is often directed in unproductive ways. As a modern democracy, India has adopted a western system, but at its core it deeply remains rooted in tradition, which also dictated aspects on governance in the past. Indian society has not evolved and modernised to accommodate the values and principles of democratic process the way Japan has, for example. Many Indians today show a tendency to self-aggrandise rather than self-reflect, a symptom of this identity crisis and an insecurity about their place in the world, and this is not helpful since it disillusions the populace into thinking they're doing better than they actually are, or can be. Then there is the fundamental disconnect between the democratic process, which was imposed upon Indias by the elites of the independence movement rather than coming from an inherent desire from the public, like western democracies. This created a system of governance and power structure that is entirely separate from the feudal system that existed in India but were never organically replaced. These feudal power structures essentially replicated themselves in the democracy, where you essentially find the previous princes and land lords becoming the political representatives. No real social change at the grassroots level has taken place in India. A majority of Indias don't even have an understanding of democracy, and the same feudal families remain in power to this day. This is a major hurdle to development, the uniformed populace is easily manipulated through subsidies and handouts. The British legacy is felt on a much deeper level than most realise too, but not as a consequence of anything they did, but as a result of choices India made on its own. India was never one large, diverse country. It was a collection of independent regional kingdoms, much like Europe. Unification of India meant that some very diverse communities had to be united under one identity, and while in the decades following independence, the identity was rooted in anti-British sentiment, with time the only remaining uniting factor has come to be the majority religion, Hinduism. You can almost see a parallel between Europe and India. Europe is Christian and culturally connected, yet it would never unite under one country given the diverse population. The opposite however took place in India. Among other things the British legacy also made English essential to India, adopted as a neutral common language across the diverse subcontinent rather than any local language imposed on populations that don't speak it. And with that English predominantly became the medium of education in private schools, however most Indias only possess a low-to-moderate proficiency in English since many never use it outside of school, this puts a big gap between what is taught and learnt, and carries forward into higher education. Contrast this with the highly skilled European population that is educated predominantly in their respective native languages and learn English only as a second language, making English proficiency a non-factor in level of education. The language aspect also inhibits a large portion of the population from even being able to attain jobs in the organised private sector since most companies use English as a working language. There are so many many other complex factors such as the caste system, the north-south divide, the vanity projects; it is a highly complex society, with deep rooted issues, its going to be very difficult to create real change without radical reform. And unfortunately for everyone, the only radical thing that has been showing up lately is in the form of religious extremism and nationalism, further exacerbating the social-cultural issues.
Same problem is with our neighbours, Pakistan, Bangladesh and well Afghanistan is gone and Sri Lanka being a Buddhist nation is now even struggling to get food
Ever heard of something called "paragraphs"?
@@je_suis_beau Thank you for adding something so valuable and productive to the conversation.
Thanks for enlighting such a complex concept
This comment needs a video of its own.
the severity of the condition of our economic circumstances is beyond many peoples comprehension and many continue to deny its existence
It's like the Pinocchio film where the children are just enjoying their night of decadence until they're changed into donkeys & loaded up
The deliberate policy of Government, Big Business, Academia and of course the Media of dumbing down the American Sheeple has proven to be a great success. God Help our Nation!
@@kennethr.burbank5745 Denial is the first stage of the 5 stages of grief, I've already been through all 5 in grieving the loss of all I've ever known in this present market. Many people will not accept the coming agendas and when it gets right down to it death will be preferable imo.
@@brandonr.navarro5896 To recover your losses , get yourself an aid (FA) because Invstin requires experience and higher knowledge. So to attain productive Invstmnt, It's important to have a solid support structure ( FA) to guide you.
@@christopherberends8242 Do you use any FA? If yes, whats the progress so far
One of the reasons for unhappiness and infact distress is that the infrastructure in most cities is below average and sub-standard. People don't have the absolute freedom to move around. I know the govt. is working, but it is not fast enough. Infrastructure needs to be developed at breakneck speed. That creates employment, accessible resources, and investor confidence. The recent report on Bengaluru (India s so called silicon valley) being unlivable is proof. Lack of govt. s vision and will to resolve issues in Bengaluru is the real reason why such issues have sprout up and why they linger on.
India should really follow China's model for quickly developing more high quality infrastructure in a short timeframe.
@@hgos7211 Tofu Infrastructure
@@arnowisp6244 The vast majority aren't.
@@hgos7211 Tge vast mahority will be. China is great at looking good.
@@arnowisp6244 You are so pathetic as a clown, why keep fooling yourself? Weakness and ignorance are not obstacles to survival, arrogance is. If China's is "tofu", what about our Indian? Is it "shit"? Let’s look at the data of China’s basic investment in previous years. The population is almost the same, but the gdp is six times that of India! Maybe you will say again "their gdp is fake! LMAO I feel really sad for you. I think the reason why India is still like this today may be because there are too many people like you. There are too many people like you who are arrogant, but ignorant and ignorant, and who only say they can't do it.
India isn't taking adavntage of its population. And when a country doesn't take that advantage, it experiences lowering/ not increasing individual economy.
Still India has time, it can create a boom in manufacturing sector and direct individuals to lower(considered) branches of govt engg colleges and other jobs like judges (number are really low) etc.
India need institutions like top iit for each sector and studies.
One of many things i completely agree with Modiji is india needs job creaters and i add to it as "responsible" job creaters.
Accomplishing this would be a greater and much needed miracle.
Exactly!
Here the mindset is that population is a burden while other countries think that population is an asset 'cuz more population means more labour force and more consumers.
@@kamalkumar7978 yes.
@@kamalkumar7978 and more burden on economy
@@divineflu34567 you are proving my point by being an example yourself.
Let's again have a look on this. If your population has been converted into labour force and employed then how is it burden on economy ?
Bfraghmin quota people are responsible...
The unemployment will only be 30% of of india's problems, the major issue is the government corruption and mindset of the people. As you mentioned there are many startups popping up but if you look clearly you will see that majority of them do some kind of business/service using internet/application (similar to dot com bubble in a way) and they do not provide that many jobs to people(very unstable). And if you come to manufacturing , you would need to bribe the government officials to even setup a plant. Even after setting it up you would still require to give bribes to ruling local political party people or government officials. Basically the ruling class does not care about the people who voted them(rupee depreciation) but they care more about looting common people and making the rich people richer(due to bribes). And the other important factor is the mindset of the people, it never changed that much since the British have left. Most of Indian parents just wants their children to just be a worker and not an entrepreneur.
You hit the nail on the head 👏. Best comment here.
30% is humongous if you consider the population.
It sucks when you definitely are qualified yet you don't make it.
@@user-vi3pi9rf7w what he meant was that it consists of only 30% of India's problems and not 30% unemployment...
Bfraghmin quota people are responsible..
@@Q_QQ_Q You are not Indian
India is in for a lot of pain as consolidation and massive infrastructure build up allows massive firms to eat up the informal sector. As an investor in India this is damn good, but if you're the one running a small Kirana (grocery/misc) store you're dead in the water.
True. Direct Gov spending on infrastructure will give relative long term job for the informal daily wage labourer
@@ashitmallick6199 Public infrastructure spending is a two edged sword. It creates employment and pumps money into the economy but it also can create debt if not handled properly. But we really do need good infra. What's the point of economic growth if the infrastructure sucks. China now has better infra than nearly anyone. We need to do the same.
But there’s also a lot of corruption in that field. Our small USA IT startup shared a office with a construction firm (near Mumbai) who covers their windows with newspaper whenever someone comes over to collect a cash bribe for construction projects.
We need to work on infrastructure
We need to build railways , roadways , public metro , ports , gas pipeline etc
Remember that 10 years are already lost in UPA era
You cannot have omelet without breaking few eggs.😃
Indians are unhappy with parents choosing their future and having too much control over it. Yes we have a shit load of engineers who could have been something better and a lot of them do find themselves and create their own stream but the years lost in between cost us as a nation.
yesss!
It's always a matter of choice... You have to be mentally strong to decide what's good for you..!!
@Nihilistic Atheist True my friend, but that is the deal we all get.. Now it is our choice to whine about these ugly things or take some bold steps and try to make life better.. it never was easy and it never will.. acceptance is the key factor
SIR PLEASE STOP THIS FAKE NEWS! WE INDIAN ALWAYS VERY HAPPY AND RICH! 😠 😠 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER SCAM, WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
Absolutely right previous generation suck
As an Indian myself I fully agree with you, I am 17 I made 20k in 4 months yet i am so fuckin unhappy! I live in a metropolitan city yet my happiness totally sucks, the main reason for all this is Indian education system
R u really 17????
@@pikachue602 yes. there are people who start working at in early age.
@@ignashi7plays401here india in 5 to6 yr old working like hell
@@subham7569😨😓
The thing is India is evolving after a long socialist era and guilt based behaviour, we are on a renaissance, both on the economic and cultural fronts and the path is a bit difficult rn as many of us are still in the lazy mindset of getting Government Jobs and following age-old exploiting British Colonial Systems. But,WE WILL RISE like no one else.
thnx for some positivity among these negative comments
Best wishes with bureaucracy and type of politicians India has.
These can't even conduct themselves properly, forget about running a country
India 🇮🇳 and also China 🇨🇳 are returning back to their ancient economic superpower statuses. They have large populations, but they have always had large populations since the start of their civilisations.
lol, no you won't
@@moumouzel LMAO ,not true tho
India went straight from feudalistic to service industry. It skipped industrialisation and chose crony capitalism. Caste also played a big detterant in bringing masses to contribute in country's overall growth.
Not Caste but Reservation
@@kishansingh2507 Different forms reservation exist all parts of world, I live in Canada and in my university there is reservation and scholarships for Native Americans. One professor lied about being Native American and she got caught it was a big news here in Canada.
Caste never played any role in barricading minority to contribute something to economy. It's the stupid reservation that made things bad
@@albertjoseph4604 In India reservation is about 64%. In state level even higher (For both pvt. and gov. education and gov. job )
@@adityagandhi2073 Yes, because all political parties use reservations as a form of appeasing their voter base. Even BJP introduced 15 % reservation for lower income Upper Caste(which their core voter base). All policies in India is not made for develop or upliftment of people , only in interested of winning next election.
He's right ... India just improving for rich peoples...... although condition here is better than neighbouring countries in south asia.... the government should control the population explosion first......
Not that much better than Bhutan,china and Maldives
SIR PLEASE STOP THIS FAKE NEWS! WE INDIAN ALWAYS VERY HAPPY AND RICH! 😠 😠 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER SCAM, WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
@@indiasuperclean6969 lol..nice sarcasm 😆😆
@@ron_ak1278 That is pakistani spam bot. Report it
@@unitedstatesofamerica4737 I'm pretty much sure that I'm watching this video and reading this reply section for the first time
Who are you? **Insert Spiderman pointing at each other meme**
Below are the reasons for India's low happiness index:
1. Indians feel they deserve more than what they currently have.
2. The above reason stems from the fact that people in developed countries with same qualification and in same profession have a better standard of living and Indians want to be at the same level.
3. The Indian society has a grand issue, it is "Societal validation", if you are not doing great, people won't value you, mediocrity is heavily judged.
4. When you have a peer who has achieved that validation, it automatically creates pressure on you to be at par, unless you achieve it you remain unhappy.
5. Indians are impatient by nature, they need better lives and they need it now, so slow development makes us more grumpy and complaining.
6. People are fed up with slow pace of development due to Govt policies, red tape and corruption. As we can't do anything else, we complain. Thus "complaining" becomes a second nature and makes us more grumpy.
7. To complain about your grievances, there needs to be a punching bag, the Govt is out of reach for common people, so the grudge remains within and shared within common groups during tea breaks or any sort of gathering. Whenever 2 or more people meet, you will see them sharing grievances about something or other.
8. The slow actions taken by the Govts pre 1991 reform are also responsible for keeping us deprived of global access, adding to more woes.
9. The deprivation still continues for the large majority but the rich people have means to access them, thus creating more disparity within society.
10. The rich are unhappy as they want more and better lives in return of the high taxes that they pay (the taxpayers in India is below 8%) So they feel being the cash cows and get nothing in return. Most rich people (or high tax payers) moves abroad to western countries just for this reason.
11. The regular Govt run institutions like primary and high schools do not provide adequate professional training and the top Govt colleges are very hard to crack even for the well trained students. So that's a bit bummer. In order to excel at academics at school level and have better chances at cracking a good Govt College you need to go private, it's kinda expensive affair for most of Indians. Those who cannot afford it have already lost the race unless they take risk and do something remarkable at turning things around. For the rest, they have settle for the lesser life that they never imagined for themselves and remain unsatisfied.
12. Over glorification of the past. India had a golden past and was devastated by the Islamic & British loot of over 1500 years. People are constantly reminded of it through hyper-nationalist media and propaganda and they feel they come from the dynasty of a great Maharaja or atleast carry a royal or grand legacy from the bygone times, but the reality strikes when in the current time period you are unable to pay your car EMI, or think twice before going to a movie it makes us more frustrated immediately.
13. Indian work culture (this is a vast topic in itself, can't describe in 1 or 2 lines).
... That's all that I can come of with at this point, will add more if I get more points!
lndia is the next Sri Lanka. Its foreign debt has reached a staggering $720 billion, far more than its forex reservie. lndian Rupee is on the verge of becoming toilet paper. Get your money out of lndia ASAP, before it's too late.
Bruh...you just vented atleast 1500 people's frustration... 😁
I think corruption and lack of good roads and infrastructure, bad quality of life, too much direct and indirect taxes , these are primary problems.
Because many of my friends are paying tax but they don't get anything in return from the government, no good roads, no health care system, no child education support , many migrate to EU, Canada etc to enjoy these benefits for paying hefty taxes at least you get something in return.
There are indirect taxes as well. Even if you are buying a pouch of salt, you're paying taxes to the government. It's just that we get very less return on the investment (read taxes) that we do on the government.
India was not ready for independence. It needed to be colonised for another 50 years.
Independent India did not inherit a poor economy, its economy was deliberately destroyed along with its manufacturing sector by its colonizers.
Mine and many other families I know have achieved prosperity in the last decade.
Same holds true for so many countries (including China). But they emerged.
But India's economy before colonisation was mainly driven by agriculture, I agree that colonizers didn't care much about india but congressess socialists policies did more damage than 200 years of colonisation.
@@vatsal7640 do you even know why British came to India? To balance "trade deficit" you can know what our manufacturing industry was back then with so called empires were running a massive deficit so yeah stfu if u don't know anything don't blabber
In India, Most bachelor's degree Engineers get a low-paying tech job around 3,50,000 -4,00,000 Rupees/annum (all most $5,000) as there are very few high-paying tech jobs. Even if a company pays good money for a position, They only hire best of the best graduates from top universities for these roles.
Great video by the way.
Edit: forgot to mention that the salary is a starting salary, You can see increases in salary around 2 years after joining.
This is not true, if you can stick on to the IT industry your salary will increase and it depends on you, if you are industrious you can get world class salaries.
@@rishi2791 And he didnt mention that its a starting package. Most of the smart people progress really fast in IT sector,
Yeah, but the cost of living is quite cheap in India compared to most places. And, 4 Lakh per annum isn't a bad start at all.
@@vaagai9808 True, compared to western nations cost of living is many times cheaper in India.
@@divyanshtiwari3547 see it's western propaganda. The moment they see an asian nation doing well, they'll bring out the "dark side". They did the same for South Korea sometimes back.
The worst part is some colonial mentality Indians support these propaganda.
That private university thing you said ... defiantly hit the bulls eye. Two people with an engineering degree from a tier-1 and tier-3 collage are counted as equals in the census. Most of our population don't want a private job, most of the middle class still believes in govt. jobs are the only way, and nothing comes even near to them. Non wanna do business. So libralisation of peoples mindset is also important. Understanding that their are way more options then just being an employee at a firm or being a govt servant. If Indians starts focussing more on bussiness, it will ultimately produce more opportunities. All India need is more and more startups.
@Nihilistic Atheist start up doesn't mean create a new Facebook or apple. Anyone can start with a small business and eventually grow it. But people tend more toward an already existing job. Risk play a bigger factor.
@Nihilistic Atheist Govt se better he na
90% 0f us Inddians d0nt have acess t0 t0ilet and clean drinking waterr
Doing Business in India is like swimming in a drain. You have to struggle with laws, politicians, bureaucracy, stubborn people , banks , poor infra etc etc. U cant deal with all these unless u have money or connections.
So an average person will not enter business .
Its easy to just get a job and fuvk off.
Only 3-5% people come under taxable income. So, how the 95% will create startups in the first place ? Out of those 5% people some are entreprenuers and the rest are employees. However, they don't know basics of business and risk-management 'cuz many of them are just PYQ solvers.
Being an indian, i can say that you have described india situation in the best possible way.
One of the endemic problems of India is systemic inefficiency. If you have a surplus of highly educated young people, it would have been great news for the economy only if the economy knew how to put them into use and extract value from them. Moreover, the proliferation of sub-standard private colleges has ensured that millions of degree-holders are realeased into the job market everwhere, but very few of them have skills that are actually useful, i.e., many of them are not fit for employment in anything more than a blue collar job.
But what's the solution?? Even Govt's Make in India has become Failed. IT Industry only generate Employment upto a certain level.
What's the solution now?? Universal Basic Income?? Then how to generate money for UBI?
One more reason which I belive should be added would be
Unresponsive attitude of all the governments & political parties towards addressing the real problems in economy , instead of this most elections in india are fought things like RELIGION , HISTORY & past with little to no interest in our economic conditions 🙄 the people themselves are too busy fighting the IMAGINARY GHOSTS that we have stopped thinking about the real problems
only BJP & RSS
@@user00942 So, should we believe in "there was no communal tension before BJP&RSS" bullshit?
@@de-comm8715 there was communal tension in past for sure and there will always be communal tension in future . But at least it wasn't the only talking point of society in past.. The real issue in this era is even though real problems of society are unemployment, inflation and poverty but govt and their sold media is busy in discussion of religion, halal, azan and name changing spree. so called 4th pillar of democracy media hardly talks about these issues now.
@@Shubhamyadav-ls4rv ohh please... hindutva and nationalism are 2 different things. Any sane personal can see the real motto of this govt, they want to change a democratic secular country to a monarch hindu country where there would be no opposition. Ane sane person can see they want full control on From judiciary to bureaucracy to media. Don't justify religious bigotry of this present govt.
@@Shubhamyadav-ls4rv ohh so you are the only real economist left in this country i guess. You are saying that simply support whatever govt does even if it is affecting you in a bad manner.
You are basically saying the English version of "मोदीजी ने किया है तो कुछ सोच के ही किया होगा "
My salary in last 7 months have doubled, but my savings at the end of the month is still the same, inflation has been out of hand especially since the Ukraine war.
If it has happened during the past 7 months, maybe it's because of your living aspirations and expenses.
@@app8790 no living in the same house, same place. petrol has risen from 70 odd to 100, cooking oil, your data prices everything. I used to put in around 3k on an average in the market everymonth for the last 1.5 years but for the last 2-3 months I cant do that. U can see inflation with the devaluation of the rupee. And i kind of know its short term as the market are in a downward cycle but the pain is real though.
@@Amiittk well.. given the fact that I really don't know about your previous salary or current salary, it might be true. Also, with age expenses will keep increasing
Damn, that's an undisciplined wealth management.
Doubled salary in last 7 months and inflation wasn't that bad bro.
I strongly believe you can save more , because I live in India too.
But as salary increases, your wishes and aspirations becomes higher and of course that is life.
@@minilroy8774 Exactly bro. Idk how it can be true. Unless your salary was as low as 2.5k or 5k max.
India's economic miracle is no miracle at all I am even surprised you choose india for this series of your video on economic growth of countries. Being an Indian I can say India's trillion dollar economy is just because of its huge population there are many countries in Europe and south east Asia with that size of economy while having just 1/4 of India's population or even less than that. Considering china developed should be a lesson for india
In western countries .... There is not much difference between. Salaried tech worker and a garbage collector. Both on na avg make ~80 to 100 k.
But in India this difference is huge.
We in India need more steel fabrication workers, more qualified construction workers, more cleaning professionals.
Only cleaning work in India can employ million people and for a lifetime.
But the paygaps and toxic social communities make these work taboo
Need nbgrahmin quota in manual scavenging
@@Q_QQ_Q 🙂😐
@@Q_QQ_Q Poeple like you should be restricted to these kind of Jobs only.
This Is What I am Saying
But Many Indians Refusing to Accept This Fact and Saying That in India Cost of Living is Low
So You Should Not Use GDP Per capita to Measure Economic Measure of Individuals 😂
I hope India shines soon. I'm not Indian but I looove this country. Wanna visit it next summer ( if flight tickets get any cheaper lol, with current salary absolutely unimaginable )
Thanks for some positivity 🙏❤️
@lmao k I'm not able to grab vacation dates at that period of time, unfortunately
Don't come in summer,it's so much heat and dust.
Unless you have planned well considering that.
@@smaras where are you frm, just asking
@@abhayshah3348 Germany
India actually got economically independent after 1991 reform and since then India has achieved a lot in 30 years. India has it's own challenges but if the government focuses on right sectors and right economic model everything will be alright.
@Arnav Then it's bad for you
@Random Indian Guy🗿 yea but I guess you if you want your products to sell then just give better offers. No one would have bought jio if it didnt give such attractive offers in 2016 right?
@Arnav still held a monopoly. Monopoly is when one company establishes a large share in the market and Maruti Suzuki fits into that until 2018-19. Many Indian car makers started making quality cars and people loved it. So that helped breaking the monopoly of Maruti in car market.
Rolls Royce must be from the top 1% , life is pathetic here!
@@rutvikjoshi113 i was thinking the exact thing.... 😂😅👍
One thing I love about Indians are how they can be self-critical about their country and society without getting hurt.
Many cultures (like their neighbors and several Western countries) have a huge ego problem which is great when things are going good, but like most feelings it should adapt to reality.
And the reality is India is doing far better than it was a decade ago and is continuing to grow, develop and solve problems for its people despite several hurdles.
This is the strength that India and the people (a lot of them) that inhabit that beautiful land possess!
this is such cap. in almost every video criticizing india, there’s a bunch of angry indians employing all the logical fallacies in a vain attempt to prop their country as the greatest in the world.
its the exact opposite scenario
There's no concept of social security, no reliable health care, and no effective right to education.
The streets of any city/town speaks volume about how lack of planning prevails.
There's no stretch in India with accessible pavement except calaba, Mumbai and some cities. This also highlights inequality in a way.
Bfraghmin quota people are responsible..
Here in India the prices of commodities are soaring high while the pay is still less unlike the case in countries like the US. Also the competition is very cutthroat for literally any job and government jobs (considered most safe and well paying) have unwanted job qualifications idk why....
This might explain why we are all unhappy lmao.
Who said we are all unhappy? If you don't want to work hard how will you get ahead. Those who don't get ahead you'll earn less and quality of life will be low, this making one unhappy
@@Kushagra.j the unhappy was in context with what was mentioned in the video. It is obvious from your comment that you ignored the other half of what I had said and only read the last line.
@@Kushagra.j maybe try looking outside of your "jUsT hUsTle bRo" world and talk to daily wage earners.
@@Kushagra.j yeah yeah "u just ain't working hard enough" .
@@Kushagra.j OK iT CELL BOT
Imo the problem is that it is very difficult to start a business that isn’t related to tech. There is a lot of red tape and you need to pay a lot of bribes. So, that prevents Indians from starting a company, and allows rich companies to dominate the market. That, and the government doesn’t regulate private universities which allows anyone to get any degree (this is even more harmful as each person with a useless engineering degree is a person who could be a good teacher, businessman, carpenter, mechanic etc). The only sector where jobs are being created is the IT sector.
So you have a country where there are very few medium - sized non tech industries, corruption is very rampant, only the salaried middle class pay taxes (farmers and the poor are exempt and rich people can avoid their taxes as a lot of it is stored in stuff like real estate and gold), and the poor don’t get proper social services like good education, transportation and healthcare due to corruption and incompetence.
Sure, the economy is booming and new high - rises are being built, but the only people who are benefiting this are the 1% (If your net worth, including your current house is greater than ₹ 1 crore, congrats you’ve part of the 1%).
Couldn't have summarised better.
Some problem can be solved by IT automation in govt offices and judiciary for faster response. It can increase speed and decrease paperwork.
Other than IT solutions, i can't see other solutions to solve corruption.
But India is growing in right direction with UPI, Metros, Railway, Expressway, Freight corridor and Very good foreign affairs.
But for working class income taxation should be removed, since they are already by GST, Petrol tax etc. This is all i can think of.
SERIOUSLY you only need 1 cr to be the 1 percent?
you are for a lot of things but i can tell you modi govt is giving so much money to so called poor people let me tell you i am from up rural area acc to govt per capita is 140000rs and modi is giving 140000 for house and 12000 for toilet in my villege more than 1ooo peole got these thing in which mostly are muslim and one more thing there income is more than 6 lac but 99%never shows their real income everyone knowes these so in india every one is corrupt and india never was happy even sri lanka ,pakistan is much happier than india acc to white people so yeah they are biased and corrupt .
@@shashwatbhattacharya9629 Naa...more like 10+
That's half the story.
The business starting process can still be made better and it is being done as well but after 70 years of brutal Socialism, large majority of Indians want everything to be spoonfed to them, the entrepreneurship is almost dead (somehow growing back but still very small for 1.38 billion people), risk taking is discouraged and being a job worker is encouraged.
As an Indian I have seen tons of people who could do much better in any other field than what they were doing just because their parents asked them to do it, this forcing done by parents makes those students useless as they don't like what they are being forced to study and do not give it their all.
Two most important things which needs to be done by the government (to some extent they are doing it too, but still not enough) is -
1) Promote entrepreneurship, promote risk taking.
2) Make ease of doing business better. (currently India ranks around 60th place, I guess).
The salary issue is sooo true! I am a post graduate but a fresher and in of majority companies the salary given to freshers is 15-18k regardless of ur degree and qualifications...Such a sad state of affairs....
Yeah, it's true 😔. I feel going abroad for studies.
It all boils down to having a good education system, which in india is really hard to implement, and even if it's implemented people's mindset towards education will still remain the same.
I recently found your channel and watched the videos made on Korea and Japan. And i actually wanted you to make a video on India too.. and today you made it. Thank you for making this insightful content. I myself was surprised for the initial slides where you said about India's economic growth😅😅
We often blame system but we forget that population of any country is also a vital part of the system. Free economy means anyone can experiment any kinds of trade but what i am seeing - every now and then youths are fighting for government job which pay very bad but still they want it because its bring the opportunity of corrupt money. Our manpower is still living in the soviet era, how would you create jobs without entrepreneurs ? College education is pretty much useless around 90% places in the world but what matters is how any country's manpower gain the wisdom to bring new profitable products/services for the world. When internet came to mainstream - world was making fortune but Indian youth were busy making trash over Tiktok and Instagram.
My Inddian pm surrendere m00di should st0p d0ing gen0 cidde 0n min0rities in Kashmir khalistan and s0uth tibet
China laughs
I kind of agree to what you said. Education is an issue in many countries, but people who are passionate about things like research, innovation or want to do more than just make startup to rack up money, is where India kinda lacks out big time. Westerners work and change careers and excel in their craft, but in India after the age of 27 you're not supposed to
@@pushkaranand006 China had 0.4% gdp growth this last quarter. Its days of high gdp growth are over. Its old population grows by over 10 million a year.
@@millevenon5853 Don't judge china by GDP growth of just 1 quarter or 1 year. China growth story is Far from over.
Think about India first. India ka kya hoga re kalia?
It seems like India needs to take a page out of China's book and start investing in infrastructure. Clamping down on private colleges seems like it would help as well.
They are doing that but problem is their is huge corruption so builders are building poor infrastructure, that's why indian roads breaks very easily within one or two years. Also there is involvement of poor quality of materials, political bribes, commission for sand mafia , no proper check up and no strict punishment for poor infrastructure.
Your points are so relatable that I can count 10s of examples around me for each and every point.
This is the phenomemon everywhere across the world. Sad but true🥺
Indian economy was already in shambles well before the covid hit us.
@Arnav well now...I guess it's better for some people to be rich than everyone being poor. I do think that there are a lot of poor people but you cannot expect overnight progress. The poverty rate is not doubt decreasing steadily. Its better to have something than nothing
@@HyperMODX yeah right
The problem is more people are being poor how is this progress
Very well explained.
Even the working corporates aren’t paid well because of the higher number of working force.
They don’t get proper salaries and increments too, but the inflation arises and causes them to suffer.
The small business owners have to deals with loans and paying taxes too.
Its just a loop where they get trapped and apparently it turns out to be pathetic.
I have witnessed many MBA and Bachelors in Technology professionals apply for a sales job.
The quantity increased so badly that the quality declined causing less pays to the common.
SIR PLEASE STOP THIS FAKE NEWS! WE INDIAN ALWAYS VERY HAPPY AND RICH! 😠 😠 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER SCAM, WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
Thanks to my dictat0r pm m0di who is d0ing gen9cide 0n minr0rities in Kashmir, khalistan and s0uth tibet
lndia is the next Sri Lanka. Its foreign debt has reached a staggering $720 billion, far more than its forex reservie. lndian Rupee is on the verge of becoming toilet paper. Get your money out of lndia ASAP, before it's too late.
@@indiasuperclean6969 are u comedy me??
@@indiasuperclean6969 100 baap ki aulad hai tu
Its not the value of engineering that went down. Its not even the degrees that are the issues. The issue is that the education went from a purpose oriented learning to test prep where the fundamental engineering is missing but kids are good at acing tests. They can't build anything. People thought test scores and not applied skills are key to a successful career. They were acting stupid and now they are paying the price for it.
Very well put in one video.
Sadly a lot of people do not realize this. Hopefully, they can be enlightened with such videos.
Bfraghmin quota people are responsible....
Main issue is that half of people won't even admit anything is wrong. Even locals. You can see in comments here as well.
This people can't take even 1 constructive criticism and live in their own bubble
That's a good thing
very rightly said. people think criticism as insult, that's such a looser mentality and a big cause of the problem
Because as economy is growing ans mostly they might be from big cities so instead of becoming humble they have become arrogant and can't see they dark side of rural India.
Gov jobs pay really well compared to per capita income with job security, so people tend to opt for it.Many earning $30000 a year will opt for a gov job paying $10000 because of better work life balance and social security.And even the lowest paying gov job pays twice the per capita gdp.
Compared to other countries income, that's a problem, government jobs are centralized and don't give the same growth. Despite per capita you can't forget low development, inequality is bad, even then the graphs show growing disparity and less thriving Indians. Purchasing parity power isn't a very good way to measure gdp because it adds cost of living which doesn't measure production. You can have a poor country where people can't afford to live and have high ppp.
@@TheHolySpiritISgreat it's the only jobs out there with some kind of job security, decent pay and healthy work environment out there. Work culture in india is probably the shittiest, without stable healthy jobs in private people are gonna go for those gov jobs even if means taking a 50% pay cut.
@@TheHolySpiritISgreat indian union government spending $50 billion on useless vote oriented targeted welfare schemes instead of industrialisation doesn't help either.
lndia is the next Sri Lanka. Its foreign debt has reached a staggering $720 billion, far more than its forex reservie. lndian Rupee is on the verge of becoming toilet paper. Get your money out of lndia ASAP, before it's too late.
There's a 55% reservation for gov job and they rarely hire people. People who got gov job never get fired even if they don't work properly. As a GM student I know the struggle. One of my cousin applied for gov teacher job and they asked 20 lakh as bribe!! salary is 50k only! . She didn't got the job even though she is eligible for the job. After that a person belonging to SE category got the job and the students know better than him.
I just discovered this channel and i love it. Keep it up!
O Man you hit the nail with this analysis!! it's screaming of the dissonance that most indians feel inwardly while fighting a survival battle externally everyday of their lives.
Most people of above age 35 have lost job. They were replaced by freshers. This impacted a lot.
Which sector ??
@@overlordborn6131 software
The world happiness index is a joke.
How do you measure happiness
Happiness is always relative.
Another point what is the time period you are referring here, from 1990-2022 or the last decade.
"The quality of life has degraded over the years"
What bs
Another video for self flagellating indians🤣🤣
Well exactly. I rich man going having a net worth of 2 million$ going down to 1 million will make him unhappy. For an average indian even getting 1000$ will make him happy
And if you just ask people if they are happy or not, it depends on what part of the society you ask. If you ask the middle class their answers will vary from day to day. Rich will mostly say happy while the extreme poor will always say unhappy
@@HyperMODX plus some societies have much stronger stigmas against admitting if they are unhappy
@@iironhide6209 well speaking of which you can be happy even if you are poor and you can u happy even if you are rich. So well..what's your point?
Manufacturing is needed for india and of course our poorest infrastructure.
I like that he gave all references in description for whatever he said
With growth comes competition and ambition. Indians are more competitive and ambitious now than ever and this drives people to constantly run in the rat race, which leaves them less time to do things they love or are passionate about. Hence the unhappiness.
People like u can change the country
Do you notice one thing? All densely populated countries are stressed out as hell. China, India, Indonesia, Phillipines, Vietnam, Japan, South Korea, Singapore, Pakistan and Bangladesh. What do all the aforementioned countries have in common? They are dense as hell, job market is ultra-competitive, congested urban areas, high living expenses relative to wage, that's why its stressful.
@@abelsoo5465 POPULATION. See, Its not hard to say P word.
@@abelsoo5465 the United States is the same way. Many of my generation have dropped out; taking low paying jobs, turning to drug addiction, and commiting suicide. I have a degree in Accounting and Economics, but I work as a painter at a home restoration company for poverty wages. I see very little hope for my future, though I haven't given up quite yet (I'm 33). The world is screwed; no one's systems are working.
Yeah,the competition is huge.....many people who fail the competition in India get sufficient success when they move somewhere else.
Drawback of capitalism is that rich are getting richer, poor are getting poorer.
💯
There no such drawbacks in capitalism. Japan and south korea are the best examples. Problem is with the Indian society. Today you see in most of the developed and even in rapidly developing countries people treats every kind of job equally and give their best doing it whereas in india we focused on white collar job and we do it without any interest just to gain salary. Zero productivity and zero efficiency = indian society. Mark my words if indians didn't change this mindset, india will remain poor and developing. Forget about competing china.
@@atharvzemse6599 Vietnam is Chinese competition, not India, India is far from competition with China. Vietnam already stole shoe, Samsung, textile, and other garment production plus pillows couches, chairs, and soon toys. India has stolen pharmaceutical industries and some other stuff. Vietnam a country with around 11× less the population of India is surpassing India in exports because they simply pulled people out and started stealing jobs from China. Bangladesh is nearly at Indian export levels which means. Country with 10× less the population of India is going to surpass them and steal their exports. Japan is capitalizing on the new immigrants to make more exports and shirts and chips. They're also adding more automated factories. India fails to capitalize on their population.
@@atharvzemse6599 I'm not sure why you mentioned Japan and South Korea but regardless of that, they are the best examples of the rich getting richer and the poor getting poorer in capitalism.
@@dadominos1078 Tell me how? Commies can't just facts.
Very good video. Talking about what lower middle class indians have to go through day to day.
I love all the soundtracks on the background of all the video on this channel i'd really like that it would be included in the description of the video
Before I watch the video, as an Indian I want to ask one thing ? Which miracle's dark side are you talking about when there's no miracle in the first place ?
Exactly! I was thinking the same.
India is the fastest growing economy in the world.....so it is also a miracle....
@@mysteriousboy4274 yeah 7% is fast because other developed nations are growing slower as they are already developed.
7% average growth is not a miracle.
@@kanekiken2002 Indian economy has been growing so fast since 1991 after economic liberalization even tho, India's 50% population relies on agriculture. Not to mention, India didn't receive any help and foreign investments from West(until the last decade because of the Chinese threat) like countries like China and South Korea did for licking their boots. Things like digital India, Made in India and startup India are no less than miracles, which we achieved in a few years.
@@anixes China did not l!ck any boot.
China just had more favorable policies so all the investment was going there, here we didn't get and do not get much investment because it's harder to invest here, any reform comes, opposition starts opposing it without even thinking if it's good or not, farm laws for example.
In India, companies expect a fresher to have experience of a veteran, as this is not possible inspite of having degree they won't get job and the salaries are very low in India compare to the expenses that govt is pushing on us making the life more miserable.
Yeah, it's true😔. I am thinking about studying abroad.
As an Indian I can aacept the fact. But slowly things are improving. People are coming into middle class and middle class becoming wealthy..and infrastructure becoming modern. It happens slowly.
Actually we are not upgrading the definition of middle class. We don't actually have a real middle-class. Even the govt data shows this. Perhaps you need to have a look at the data and not just in your locality.
In India, if you're middle class you're screwed from all sides.
Really good video, nailed every point, could you do a video on the philippines like the social conditions and why they're stuck from moving forward?
Hit the nail on the head. I usually do not comment on videos but this is well researched and well produced. Continue the work!!
Sad but true! I am from India...
There are so many insightful comments here!
Really worth reading.
This channel just popped up on my feed and I started w the Japan doc, followed by Korea and now India. Really interesting! Liked and subbed.✌️
The unhappy part also extends to fact that while before people had more govt jobs and more people were in informal sector, while now with people seeing startup entrepreneurs and workers getting 7 digits salary, general people are getting unhappier as they don't earn as much as some new people are earning. Also the covid making lifes of lower and middle class difficult adds to the problem. Since competetiveness will increase and happiness index as weird standards(for me), I think in future standards of living will become better as more factories get set up and people get work in it. Also one must note that all those doing STEM subjects and MBA want high salary jobs only 10 LPA+ but considering how bad colleges are in their curriculum and there aren't as many jobs as number of seats in those colleges, students getting less salary at start are definitely disappointed as they see others on TV and social media earning a lot and as people show how good and sable their life is at 22-25.
Very well said
SIR PLEASE STOP THIS FAKE NEWS! WE INDIAN ALWAYS VERY HAPPY AND RICH! 😠 😠 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER SCAM, WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
@@indiasuperclean6969 Your comment was uncalled for and not required.
@@app8790 It's a damned bot. Don't bother.
@@shiveshsingh3169 But a funny bot😂😂
Population explosion is the root cause of all this unhappiness. There are simply not enough jobs for employing the millions who join the job market each year. It is also the reason behind the poor standard of living and high levels of pollution in Indian cities
Tell me the total population of Europe, it's nearly 800 million, Indian states are larger than European countries and illegal immigration like Rohingyas, Bangladeshis etc..are also a major problem , during the colonial era,both British and Islamic ,the population in India was largely wiped out if you take states in context not the whole nation, China too have a large population but it has a better system and infrastructure
No it isn't. The problem is not taking advantage of it. Many steps has bern taken by this govt. We would see the result of it in upcoming years. The problem lies in states like bihar with highest population growth where state govt isn't doing much. UP seems to have came out of that situstion where infra and maufacturing seems to rise and we should its result in 10 years.
Incoming year, population of india in 2050 will be remain same at present (140 crore). Current India's fertility rate is 2.2 . After 2035 , it will be below 2.0 that means population will decrease.
@@iloveindia7912 fertility rate is low among Hindus,Sikhs, Buddhists and lowest in Jains, Christiana have a relatively higher fertility rate and Muslim's have the highest fertility rate among all ,you can check this ,new reports are out
@@abhayshah3348 up Biharis have the highest birth rate in the country and are the root cause of poverty, dictators like Yogi are needed in these states
Bro you got me , exactly right to the point.
Literally nobody is talking about how a country with a population the size of India SHOULD industrialise, it hasn't. For India to attain first world - heck middle income status, you have to industrise, then police reforms, judicial reforms - letting go of government control over temples.
Indians will stay poor and miserable until these reforms are put into place.
Another absolute banger of a video mate. Keep it up!
Everything thing was facts, here in india 🇮🇳 quality of life was very worse because overpopulation. Corruption is most common daily thing in india 🇮🇳, inequality, iniquity too..population to pollution. 85% Indians are not broadminded people.
I agree with all but last line is not true see comment section. all indian taking criticism
Bfraghmin quota people are responsible....
India will never be a developed country in it's lifetime. India does not have any high value natural resources like oil and gas in commercial quantities. Even if India grows, it will get stuck in the middle income trap forever. India will also suffer the wrath of climate change and face resource shortage due to overpopulation. If India grows too much, it will get sabotaged by the west and China.
Appreciate your analysis and evidences provided.
I'm a senior year high schooler in india and is looking forward to work the best for India to achieve the best it can.
It was in 1991 and NOT 1981, when the USSR collapsed and later the comprehensive economic reforms, fondly known as LPG reforms were implemented in India.
As an Indian I'd say he's right. The saddest part is that most are oblivious to the facts as to why they suffer while many others choose to live in denial because they're either afraid to confront the reality or they're simply gullible to the politics at the centre where well known poster boys of political parties post advertisements on television during commercial breaks boasting of how many jobs they've created or how much "development " they've done....lying through their teeth with nice catchy visuals to mesmerize the gullible dumb folks of the country. Only a matter of time when the facade will come crashing down. Global recession isn't far away and India is no exception to global phenomena.
The current Indian government is more focused on persecuting minorities and creating a fascist state than improving living conditions. Using religion and populist rhetoric has worked so far when it comes to elections but the path they're taking will inevitably lead to the country's destruction.
@@tobuncs5261 Have you missed the Nehru part? And how our country was on the verge of collapse in 1991? We are responsible for everything we are facing. Had we taken a stand against the government's ignorance then they had to serve us.
It sounds like you want that to happen.
very rightly said. people think criticism as insult, that's such a looser mentality and a big cause of the problem
@@RB-ns2nn It's alright. None of their prayers will bear fruit just as they didn't during the pandemic despite all the negative propaganda.
Well researched and well put...
Inequality in India is real . The rich are getting richer and the poor are getting poorer.The number of poor people in India is very high and the number of rich is very less but 60 to 70% of India's money is with the rich and the rest of the money is with the poor, whose number is huge and this is the main reason of India's unhappiness
Am a fresh law grad from a state run uni and I make $80-100 a month that too living in Kolkata, the 3rd largest city of India.
That's the Indian economy for you.
But in Kolkata you can have a full course meal in 30 cents! India is a real economy, western people are born with 10 times the debt than an India one
What like 7000rs right wow that soo crazy how can someone live with that amount of money .
I'm a partime worker even I earn like 15000rs
You live on subsistence because your state is captured by elements that prioritize illegal migrants and doles at the expense of you. You should take up a begging bowl and go to a state where you can earn more.
India is a strange case where socialism associated with corruption prevented growth and prosperity to billions and once the liberalization happened socialist political parties using democracy is derailing new industrial growth -factory -production... and that lead to jobless growth, resulting in inequality and going back eventually to socialism.... its a loop, without elimiating socialism and socialist mindset atleast for 30 years.. india cant even reach middle income level if growth..
I love your videos. Please make a commentary about the economy of the Philippines. Thank you.
Actually, my observation is that Indians are more happy than most.
Underrated channel! Love these types of videos. You'll blow up in no time
Only the civil servants, big businesses and politicians have had a piece of the growth pie.
Rest, it has been quite the same except few facilities.
Government has no business to run businesses.
Bfraghmin quota people are responsible....
You are absolutely right man ...
Perfectly nailed…Excellent analysis…Good Job
Yes, you are 100% , this is the 'New India' . Govt. have stopped publishing the numbers of unemployed people since 2019. Ruling political party is continuously fueling communalism .
Fueling communalism???
So, according to you the ruling party is responsible for the division of the nation and millions of killings of people during partition...
Ruling party is responsible for the killings of thousands of Sikhs in 1984...
It is responsible for the exodus of 5 lakh kashmiri hindus of 90's...
Hmmmm?
@@Bhatti_Saab_7773 Yes.
@@atheistbanerjee008 u r ultra level knowledgeable
"Breakdown Social Cohesion and creates divided resentful societies " yeah it's happening
Yaa, opposition and some redical muslims are dividing the country
As an Indian I can attest to the wealth and income inequality. If you visit a city like Mumbai or Gurgaon, you can see it displayed in its full glory. The rich are very rich, but the poor are very poor. Minimum wage in India is not even a thing that is talked about. You either get a degree or a government job or inherit enough wealth from your parents.
Government jobs give solid job security to the employees until they retire so there is very little incentive for them to do their jobs properly. Just visit any government offices to obtain a service and you'll see, the buildings are so fucking depressing to look at, let alone work in. And if you're not ready to fork out a bribe or don't have personal relationships with the people who run them, getting the services is a fucking chore.
Of course can't deny that many aspects of government services have become digital which has made it much easier in many aspects, but there is still so much more to be done to improve the quality of government services for the common citizen. Don't even get me started on the corruption. It's disgusting to look at when you first encounter it. But it's a way of life for so many here. Like a mind virus.
And the people with money who helped install the current government are getting back what they invested and a lot more with the kind of contracts they have been scoring, which is only exacerbating the wealth and income inequality.
Of course, it's not all gloom and doom, there's good shit too, but on the whole the way government is run still sub par.
nice insight
This is a very accurate problem that most Indians or foreign people might not understand the severity of. Lot of intrinsic issues can hide behind growth figures and sometimes just being aware of these issues can help us solve it and profit from it.
We need to have better public spaces to facilitate public interaction like state of art footpaths with dedicated cycle lanes and to create much needed 24 by 7 vibrancy
Unemployment is sky high and people are deluded into thinking the economy is actually growing but that is just denial of the terrible circumstance the country is facing rn
7% is sky high for you?
@@yashrao5269 okay sanghi
@@saileshbabu6661 hey I dont think sky high is the right word. If you see, india always had unemployment and I dont think it has really changed much. I would rather say it has decreased in most states leaving a few
@@yashrao5269 it may seem to you like a normal stat, 7% right?...but india's population is very high, you need to remember that...7% still means that above 6 crore people in our country are unemployed...more than the population of many countries.
@@rohanjagdale3676 in these current situations, india is doing a tremendous job in terms of handling inflation, unemployment and many more factors. you can say our population is high thats why its bad for economy, but you should also do a small research of how india is countering these weak factors, in terms of many companies investing in india, infrasturcture projects via PPP, defense manufacturing, rise of startups which resulting into unicorn and many many more factors which are resulting into rapid employment
Properly explained without involving any politics and blaming this is the problem we lack good quality job's as well as good quality education which leads to unemployment and people not being happy.
Having viewed your videos on Japan and Singapore, I welcome your observations.
However, the reason for our unhappiness is also driven by the fact that we are tenaciously competitive and ambitious.
Aspects you have not talked about are the willingness of people to migrate, live abroad and send savings back home.
Corruption, terrorism, and the influx of refugees have taken their toll too. We are Nationlissts and like to be second to none.
Of late, our responses to crises bother man-made and ecological have been noteworthy and that is making a huge difference.
Having looked at the rest of the World, we know that unless we take charge of our destinies, we will have no one else to blame but ourselves.