Indian Economy ! Worst Position Economy Or The Worth Position Economy ?
LLifestyle of country affect their economy very well as in India we have such a huge population but still our workforce is very low ,but in USA where population is very less compare to India , still they are more developed, all this is due to Lifestyle of the country . As we can see in America the lifestyle is that they use to live alone by their own this is their lifestyle but this is the major source for the development the America because the people live alone they have to earn their livings , that increases the participation rate ,which increases productivity which increases income and so increases the employment and so the cycle goes on .
Now i would like to have the example of India specially of rural India because still a large amount of our workforce is from rural areas , people in India live together in joint family like a farmer family having one head of the family and four children all above 18 , do work on farm with their father and having a land of about say 4 hectare on which they use to cultivate wheat and in the month of March they got the production of about 80 tonnes !!! But !!! This amount of production only needed three workers which means two member of their family are not required on farm ,This is also called Disguised Unemployment ,But think if that two people could do the work at some other place where labour is required ,they could increases their family income and Country's GDP also and if we see There are about 50 or more families working as farming in a single village ,and their are about More than 50,000 Village In India that means if take the minimum lower range data there are about 50 x 50,000 that is about 25,00,000 lakhs families working as farmers and if 2 people from every family that means 25,00,000 x 2 that is 50,00,000 lakhs people could increases the Productivity , But this is not seen in India because of Indian lifestyle .
but still i like Indian Economy because at the time of recession when USA is facing a bulk of losses , that time citizen of India's earning does not affect at large , because they are already Disguised Unemployed !
At conclusion if we see from the vision of Urban Citizens ,Indian Economy is a Worst Position Economy , But if we see from the vision of Rural Citizens India Is a Worth Position Economy .