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Friday, December 03, 2004Oh - Indian Century!!!!Indra's Drishtikona writes, Some things that hurt me deep and raises doubts about India's Century . Excerpts with edits:Projects delays and Cost overruns: Only a small number of 22 projects are ahead of schedule, while 14 are on schedule. "The overall cost overrun with respect to original cost is 21.5 per cent, mainly because of delays, which range from one month to 13 years”! Conditions for business in India : Doing Business in 2005 says, Just to give one aspect- Singapore requires just seven procedures and takes eight days for a business to be started. In addition, the cost that the businessman incurs is just 1.2 per cent of the income per capita. The corresponding figures for India are 11 procedures, 89 days and 49.5 per cent of the income per capita. Even China, with its suspicion of private industry, takes 41 days in 14.5 per cent per capita income to start up a business. India's position in knowledge economy: In a study made public recently, the World Bank declares that despite India's impressive performance in the last few years, its overall position has not shown any significant improvement in knowledge sector. Despite significant advances in telephone, computer and internet penetration, India has fallen slightly behind because so many other countries have advanced even faster. Corruption the biggest speed-breakers of growth: Transparency International in its recent report has ranked India a lowly 90 in a total of 145 countries- India has scored quantitatively 2.8 on a scale of 10. And TI estimates that Indian taxpayers lose a whooping $ 7 billion per year in bribery and similar deals. May be that this estimate is on lower side. Indians form a third of world's illiterates: The 2005 Global Education Monitoring Report, which incorporates the 2001 census data, has just been released and the India's ranking slips down one place further - 106th out of the 127 countries surveyed. -One in every three illiterate persons in the world. With 34% of the illiterate population in the world, - India has the largest number of illiterates by far, with second-placed China at 11%. Some remarks: The World Bank president made a remark recently in an article published in "Times of India" -Despite the impressive gains made by India in the assault on poverty in the last two decades, more than a quarter of India's one billion people are still below the official poverty line; that amounts to more than 250 million people, about a quarter of all the world's poor, live in India. And he points to a comment in his blog saying, A comment on entry on India''s century. "The Indian engineers I have interviewed have poor fundamentals. Sure there are a few who have spectacular skills. But I believe Chinese engineers on average have better fundamentals in Mathematics and Science compared with the equivalent javascript/ejb/buzzword-of-the-year engineer that is produced by India." | |
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