what challenge are faced by economic reforms after independence.
the answer must be appropriate for 6marks question
Answers
Answer:
One of the important factors on which the economy was challenged was poverty. It was estimated that the poverty levels had fallen consistently during 1990-2005. However different methodologies were used with each yielding different results. Rising inequality led to lesser number of people benefiting from growing economy. The absolute number of people who are poor is still high in India. Despite the high growth nearly a third of the population remained illiterate and even those who go to schools find the quality poor. The main tool of social mobility for the poor which is education thus remained deprived. The other indicators like immunization, health and education too didn't rise as fast as the GDP growth. This made India among the middle level countries in terms of Human Development Index. Agriculture growth remained sluggish and even employment in agriculture suffered. One reason could be lack of funds for infrastructure and training as sizeable went in agriculture subsidies. Indian economy also went from Agriculture dominant to service dominant without Manufacturing dominant phase. This meant that unlike other economies manufacturing remained stagnant and so Indian growth story is sometimes called "Jobless growth story".
Answer:
One of the important factors on which the economy was challenged was poverty. It was estimated that the poverty levels had fallen consistently during 1990-2005. However different methodologies were used with each yielding different results. Rising inequality led to lesser number of people benefiting from growing economy. The absolute number of people who are poor is still high in India. Despite the high growth nearly a third of the population remained illiterate and even those who go to schools find the quality poor. The main tool of social mobility for the poor which is education thus remained deprived. The other indicators like immunization, health and education too didn't rise as fast as the GDP growth. This made India among the middle level countries in terms of Human Development Index. Agriculture growth remained sluggish and even employment in agriculture suffered. One reason could be lack of funds for infrastructure and training as sizeable went in agriculture subsidies. Indian economy also went from Agriculture dominant to service dominant without Manufacturing dominant phase. This meant that unlike other economies manufacturing remained stagnant and so Indian growth story is sometimes called "Jobless growth story".
Explanation:
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