how to improve Indian's GDP?
Answers
Answer:
by increasing tertiary sector
Answer:
To Increase India’s GDP Our Government Must focus on these steps.
Remove 500 and 1000 Domination : This will help in removing corruption and black money from system. Corruption in 100 Rs Domination is more difficult and Money hoarding become more difficult.
Finally, This will increase E - Transaction that would be much safer and convenient.
Shifting Focus from Jobs to Entrepreneurship : If You do a survey among students in India, You will find that 90% of students willing to do jobs while 10% of students willing to join their parent’s business. If More people willing to do business, they will generate more jobs so that unemployment go down.
America with 35 crore citizens have 3.4 crore companies and around 1.9 crore business paying taxes and having turnover more than 1 Lakh USD per year. In India, citizens of 132 Crore People. Only 15 - 20 lakh companies are registered and merely 5 lakh companies paying taxes. rest of companies are proxies that always show losses (to save taxes) .
R & D : In India, Research and Development is far behind global peers. If Govt. provide monetary help to brilliant mind. we can outperform global peers . Example is ISRO who completed mars mission within 100 million USD where USA Did almost same Project for 600 Million USD.
I Believe India can out perform in Genetics, Bio Organic Technology and Computer Technology .. All we need proper guidance and Monitory help.
Proper utilization of Resources like Land, Water, Air, Food , Coal , Minerals etc etc. Wastage of less than 5% will directly boost India’s GDP.
Only these 4 steps alone can help India’s GDP to grow more than 500% from current level.
Explanation: