Take a look at the new and improved purchasing power parity study just released by the ADB and you will see what I mean: Indian spends just half of the Asian average on housing and a piffling 20% on health and education.
I have no doubt this is because the dead hand of the great Indian state controls education, and has only recently started being co-opted out of the real estate game; healthcare sort of does not exist for most people.
Had this study been done ten years ago we would have been seen to be laggards in telecoms and transport as well, but the privatisation of telecoms and airlines has seen us rise to the Asian average. I have no fear that real estate will catch up given that its ability to generate cash for our rulers is greater even than telecoms.
I do worry about the illiteracy of our masses, at least until some clever entrepreneurs find a way to make enough money out of education that they can share the loot.
On the other hand have you ever wondered why the education business is suddenly being subjected to all sorts of control? The same thing happened at the same stage to telecoms, airlines and real estate. The fact that education is now top of mind for our obstructive politicians means that they smell the next big one coming; as do all the PE shops that have started backing all allowed forms of education.
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