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The Hindu
The Hindu
Comment
Nalini Singh

A $5 trillion economy, but for whom?

Last week, at an election rally in Chhattisgarh, Prime Minister Narendra Modi announced that he is extending the Pradhan Mantri Garib Kalyan Ann Yojna, a scheme providing 5 kg of foodgrains free every month to beneficiaries of the National Food Security Act, by five years because he does not want any citizen to sleep hungry. This means that 80 crore Indians will still be receiving free foodgrains to stave off hunger in 2028. This is the year the government expects India to become the third largest economy in the world, with a GDP of $5 trillion. Will large swathes of Indians still be hungry with a GDP of $5 trillion? Who will benefit from the five-year dash to these targets?

The story of Japan’s growth

For reference, let’s take a look at Japan today, the third largest economy by GDP in the world. In Japan, there is reportedly a death by suicide every 20 minutes. About 15 lakh Japanese have not left their homes for years, a form of severe social withdrawal known as hikikomori. Old parents rent actresses who come in on Sunday to call them ‘Mom’ and ‘Pop’ because their own daughters don’t visit any more. Every day, dead people are discovered in tiny apartments days or weeks after they died; these are called kodokushi or lonely deaths. Clearly, Japan’s climb to the third position economy-wise has not lifted all boats equally; it has tossed the weak to the margins where they languish because economic growth on steroids has unpicked the safety catch of family and community ties.

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