ExpertDabbler

At a time when the Architect of Economic Reforms is the Prime Minister of India, it is fascinating to observe the Indian economic journey post 1991. Forget the forex reserves position and the other macroeconomic parameters when Narasimha Rao and Manmohan Singh took over in 1991. Let that be for economists. Let us think about the scenario which prevailed then at a micro level.

Prior to 1991, if one hailed from an urban middle class from South India, the family income was at best about 10,000 per month. One would think twice before renting a house for more than 1500 bucks. The parents had dreams about building a house in a sub-urban area. They had to go from pillar to post to take a loan for 1.5 - 2 lakhs and struggle to pay the EMI and manage their children’s studies. For those to whom all this sounds alien watch “Veedu” by Balu Mahendra.

Cut back to 2005 and there are friends who pay for their children’s Pre-KG education much more than they did for their own college studies fees. Many professionals either buy/build a flat /house which they do not need as a matter of necessity. It is only a tax saving measure. The amount paid for maintenance and water charges in an apt. in a metro city now is much more than the rent paid for the house way back in 1988-1990. Real estate prices are sky-rocketing.

“Angeya sir? Flat na sq.ft 2000 sir. Ground 30-35 ruba pogudhu” (Read 30-35 Lakhs).

There are many among my friends who are as familiar with Lufthansa flight services from Chennai to Frankfurt just as the way they knew by-heart the route numbers and timings of city buses.

“Maapila innaiku night US kelambaren da.”

“Oh night 1.20 Lufthansa va?”

These dialogues are common now.

There are many among my friends who fly regularly between Chennai, Bangalore and Coimbatore to and fro. Like every alternate week or something. Cell phones and iPods are but extension of ears. Broadband should be brought under Essential Services Maintenance Act. Air-condition is absolute must for survival.

So are we realizing the Great Indian Dream? An India which is world class in Education, Healthcare, Manufacturing, Agriculture, Infrastructure and Technology?

I would welcome readers comments/opinions/feedbacks befoe commencing my second part.