Figure 1.--Millions of Indians have ebtered the middleclass during the 1990s and 2000s. Here we see a middleclass family visiting the Queen Victoria Memorial in Calcutta in 2006. |
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A generation of Indian leaders grew up with a fervent commitment to socialist econnomics and central planning. And when India became independent, these were the policies they implemented. In addition a stifling beaureacracy further restricted growth. Finally after decades of stagnant econonics and limited growth, it became clear to Indian leaders that their cherished socialist principles simply do not generate economic groth. Socialist policies can destribute income, but they do not seem to be very good at generating wealth. Indian politicans in the 1990s began to implement a range of free-market economic polices which has brought dynamic economic growth. The result has been a huge expansion of the country's middle class. Government studies suggest that about 30 percent of the country now belong to the middle class. Many are nw entrants to the middle class from humble origins. A strong vibrant middle class is a key factor in both democratic government and economic prosperity.
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