Integrity Score 240
No Records Found
No Records Found
The Strategy for Economic Reform in a Globalised World continues....
Hence, in a globalized world, governments will have to have a major role of being effective shock absorbers, fire fighters and even to police occasionally, the course of development. The question, therefore, is not one of downsizing or upsizing the government anymore but one of “right sizing” to meet the challenge of globalization.
To come on par with the US by say 2050, India will have to deploy its young population to tap future innovations. As the President of India, Dr. Abdul Kalaam has observed, in the coming
years, peoples lives will be enriched by IT-driven knowledge products and systems, biotechnology, and space technology. We may fund human-beings inhabiting a planet other than the earth and solar power being beamed down to earth. Moreover, hypersonic vehicles, with speeds of more than Mach 10, will fly across continents and will also be used for weapons delivery. Human life will be further prolonged through genomic and biotechnological research. An area holding even greater promise is that of edible vaccine. This would be a boon to India as millions of its people get affected by diseases like Polio and Hepatitis-B. A plant system for delivering the vaccine needs to be developed.
Nanotechnology will enter human usage in the shape of control mechanisms of various transporting systems, medical equipment, and aerospace systems like micro satellites, mini RPV. Another area of human concern in the coming decades would be the pattern of
global energy dependence. Table 6 below indicates the technology for the next fifty years.
Thus the main pre-requisite for India becoming a world power is to have a developed economy that is well integrated with global markets. Trade, FDI and financial leveraging are essential for rapid growth of the Indian economy, at 10 per cent per year in Gross Domestic Production or GDP at least for a decade. Defence expenditure should be pegged at 7% of GDP, with the dominant share for Navy, R&D and weapons acquisition.
to be continued...