Understanding Indian culture key to prosperity: Gurumurthy

Understanding 'Indianness', tradition and culture and keeping away the western bias would help the country prosper, RSS ideologue S Gurumurthy said here today.
He was addressing a seminar on 'Bharat in Current Socio-Economic Landscape' organised this evening by Chembur chapter of 'Bharat Vikas Parishad', a socio-cultural organisation.
"It is not a simple task considering the influence of western economists and thinkers on the Indian intelligentsia. India needs a massive reorientation," he said.
India is the only economy in the world that has come up without substantial foreign investment, he said.
"Foreign investment in India in past 20 years is just one per cent of the growth in the domestic investment," Gurumurthy said, adding the real growth engine was the savings made by the domestic sector.

"The family system of India is a boon. The economies like the US are on the brink as they ignored the families," he said while describing how 'social security' is taking its toll on the US economy and how in India the same factor is taken care of by the sense of social responsibility.

"Our English educated intellectual class is being deprived of all the traditional wealth. This perspective is never taught in IITs and IIMs," he said.
On the genesis of Mudra bank, Gurumurthy said, "I made a presentation to the Prime minister regarding how the small entrepreneurial class of India has contributed to the growth of India and not the public or private corporates. This led to the formation of Mudra bank."

Gurumurthy said restraint needs to be observed while deciding on the issue of privatisation. "Like, Railways should never be privatised," he said.