Developments in Science and Technology resulted in better conveniences. But the key indicator of standard of living viz purchasing power of people has not improved.
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Economic reforms are benefiting the rich. Due to producing syndicates there is no competition and consequent control in prices. The rich have their profits and the poor have the vote bank schemes of governments. Consequently there is labour shortage both in industry and agriculture.
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The largest middle class in the world, present in India, is gradually becoming poorer as they pay taxes but are not eligible for the so called welfare schemes. Dwindling middle class is not only loss of customer base to industry but surely will have political repercussions which may lead even to a revolution.
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Can we foresee this and take necessary preventive steps to protect our people from being exploited.
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