The question of whether the Government of India should go for such entitlement programmes has been debated for past many years. The hard truth is that they are necessary for the survival of a large population of our country. Ideally, the answer should be a ‘No’. Because, the means to finance subsidies are detrimental to economic growth and hence the government try to reduce the subsidies by fostering growth of economy and increased employment generation through investment in industrial growth. And unless people make themselves aware of the fact that subsidies cause more harm than good, politicians will try to bring more subsidies to please the electorate.
I truly believe there are enough opportunities for everyone to get a good employment, stomach full of food and the essential education. One of the major steps towards achieving it is to eliminate corruption. Then, there is a need of major reforms for providing social and financial security to each and every citizen of India which will lead to better living standards and self-sufficiency for all.
Faculty of Management Studies
University of Delhi
(This entry is part of our FE MASTERMIND contest. The views expressed in this article are personal and not that of the newspaper.)