More than a fifteen revisions in the rates of Interest has been made by the RBI(Reserve Bank of India) to control the runaway inflation, but there is no success. The people in the lower income groups suffer hardships in meeting their daily requirements of food and clothing. In urban areas, the needs of water and electricity have been met to a great extent. But other India's growth has been arrested.Industries which had started have come to a halt--high cost of running and poor outputs. Many could not make profits to provide for their workers. The workers suffer as the economy is pressing on them.Yet, the people grin and bear it.
There are places like hill resorts where tourism industry has prospered. But the native people have become impoverished. Glocal=global+local theory works against them.Many have sold their lands at very low rates to local land sharks who have resold them to upcoming hotel industries. These land losers work as sweepers in these resorts (lands which they had once owned).When the hotel industry does not provide big profits, the salary of the sweeper is cut down to a smaller size and the worker suffers more.Here the government does not interfere. If the worker decides to strike, he might lose his job.That would be worse than now. How to bring dignity to the Indian worker is a question we will answer in the future blogs of future India.
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