Elections 2019 – Is India Ready to become Super Power?

by | Apr 9, 2019

Hello Mr. Prithvi, Thank You for giving us your time today.

As a financial planner yourself, how do you see India 2020 will look like?

It is the time when which ever political party forms the Govt, they should focus on bringing better fiscal
prudence and also help the masses to rise from poverty, employment and self-sustenance in agriculture. From an economy perspective, we hope that the growth numbers are better with
lesser inflation, this will enable better stability in the economy and also bring more real savings in the
populace, which eventually will build in a better investing society and improve economic growth.

Now that political parties are coming with pre-poll alliance and poll promises, how do you think a common man would be affected if UPA comes to power?

Our perspective is that any political party has to maintain a certain amount of fiscal prudence while
managing the country, and the minimum income scheme if workable would be great and will bring more
upliftment of masses, but the only way to change the situation at the ground level may not be the
minimum income scheme but skill upgradation, like teaching to fish instead of giving fish to eat…so we
think efforts should be made to upgrade skills and create an environment where if people want to, they
can create their own business and in the process create jobs and make a robust economy.

Do you think NDA has brought significant financial changes in the life of a common man?

Per capita income of the country has risen from USD 1486 in 2014 to 1977 USD in 2018. The increase in
per capita has been 25% over the last 4yrs, which is a significate change. Inflation is a critical economic
factor that influences the common man. High inflation levels behind little money with common man to
save and spend. While in 2013 the average inflation was around 11%, in the last 4.5yrs NDA Gov made
efforts to bring the inflation between 2-3%. This leaves significant amount of disposable money with the
common man.

Rs. 6000/month for poor. What is your take on this? What is the economic impact do you see?

As per old Chinese saying “need to teach fishing rather than giving fish”. Anything that is free is bad
economics. As per Mr.Chidhambaram the scheme would cost 1.8%-2.00% of the GDP , which will have a
impact on governments ability to spend on other development requirements unless they cut some of the
on going subsidy schemes. The scheme will have a domino effect on inflation as a free income for
recipients would increase spending there by general prices in the economy would tend to rise and second
with government fiscal defect increasing interest rates will also increase in the economy.

Do you think India will become one of the super powers by 2040?

India has the capability and the engine to run for a long time and the technological adaption that India has
the opportunity to take in its stride will surely make us a super power.

Do you think India is moving towards the right direction?

The pace defines the ability and intention in this age and I think we are moving in the right direction but
the pace can increase to make the change happen around us. I strongly believe that if India needs to go
in the right direction we all have to move in the right direction and the onus is on all of us to create the
GREAT INDIA we want to see. JAI HIND!!

Prithvi Potta heads WERT Advisory Services. WERT Advisory is a Hyderabad based advisory firm providing wealth management and financial planning solutions. Can be reached at prithvi.potta@wert.co.in

Disclaimer: The views expressed by the interviewee are of his own and only answering to the questions
asked by the interviewer. Cannot be skewed for the benefits of any political or personal interest.