Monotheism, failure of family system and decline in cultural values have led to collapse of economy in the US, according to Swadeshi Jagaran Manch national co-convener S. Gurumurthy.
The Rashtriya Swayamsevak Sangh (RSS) Vijayawada Mahanagar unit organised an elite meet on ‘Hindutva and India Today' here on Monday. Addressing the meet, Mr. Gurumurthy dwelt at length on the socio, cultural, spiritual and economic aspects of Hindutva vis-a-vis the US and other Western countries. India was “striking back” on the economic front in the global arena while the US had slipped down on all fronts, including social, economic and cultural. The collapse of family system, deliberate promotion of concepts against savings had led to economic derailment in the US. The average number of persons in a family in the US had come down to 2.5 from 3.6 a decade ago, forcing the government to spend more on housing, infrastructure and social obligations like welfare of the aged, children and the like. The number of credit cards and spending surpassed more than its population. And, ultimately, it resulted in the US becoming the biggest borrower and importer, he said. Mr. Gurumurthy said when India opened its economy, the percentage of savings to the GDP was 23. Now, it rose to 37 per cent. Contrary to the belief that foreign investment was boosting the country's economy, the total foreign investment did not cross 1.2 percent of the total investments from 1991 to 2010. It was internal savings that saved the country from economic slowdown and contributed to investments. The family savings would touch Rs. 80-85 lakh crore in the form of investments in the near future, he explained. “India is striking back to reach the position it had 1,700 years ago,” he observed. Referring to “multi culturalism”, Mr. Gurumurthy said that the diversity in India was natural and required no law to protect. The problem in the West was that there was no inclusive faith though they were all multi cultural countries. RSS Mahanagar Sanghchalak N. Vinay Kumar, Vibhag Sanghchalak D. Pitchaiah, Vibhag Sarkaryavah K. Durga Prasad and Siddhartha Academy secretary N. Venkateswarlu were also present.