Write a essay on problems and growth of indian economy?
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Introduction
Indian economy is growing at a steady speed. The increasing number of various manufacturing industries the growth in export of manufactured goods and the privatization of banking and telecom sector have made a positive impact on the Indian economy. India had seen a very difficult phase after independence when the economic condition of the country declined at a rapid speed. The government of India as well as the talented youth have worked hard to raise it.
Decline in Indian Economy
India was once known as the golden sparrow because of the wealth accumulation in the country. This is one of the main reasons it attracted foreign invaders. After the colonisation by British, India was left with almost nothing. Most of the Indians were engaged in cottage industries. However, the products manufactured by them were no longer in demand as people had begun using industrial goods. This had an adverse affect on the economic condition of these artisans and resulted in the decline in the country’s economy.
Government Policies for India’s Economic Growth
Handling the economic condition of the country was one of the main challenges for the newly formed Indian government. In order to ensure an upward graph, it came up with the following policies:
Ample means of livelihood to the citizens of the country.
Equal pay for equal work without any gender bias.
Improvement of public health and standard of living.
Prevent concentration of wealth.
Distribution of the ownership of community’s material resources.
Reasonable wages for workers so that they afford a decent standard of living.
Promotion of cottage industry by state.
Economic Growth of India
The efforts of the Indian government and the hard work of the general public have paid off. India has become one of the fastest growing and developing nations. Our country has made good progress in various industries during the last few decades and this has led to its economic growth. Information Technology, infrastructure, retail, financial services, automotive and healthcare are among the sectors that have seen a major boom lately. These are growing at a steady pace and are contributing majorly to the country’s economic growth.
The average GDP of our country is around 7 percent. India stands at the seventh position worldwide when it comes to GDP. However, even as India has attained this stature, the picture is not all rosy. The main problem of our country is unequal distribution of wealth. While a good amount of our population is earning well and is contributing towards the country’s economic growth, many people are still not able to make their ends meet. There are still many people in our country who are living below the poverty line. The economic growth of our country is of no good if such extreme poverty still persists.
Conclusion
The government of our country has taken several initiatives to ensure the economic growth and development ever since independence. Many of these initiatives have proved to be fruitful and have contributed to the country’s economy. The sharp mindedness of the Indian youths and the numerous initiatives taken by the Indian government has collectively contributed to the economic growth. However, we still have a long way to go.
HOPE IT'S HELPFUL....
Indian economy is growing at a steady speed. The increasing number of various manufacturing industries the growth in export of manufactured goods and the privatization of banking and telecom sector have made a positive impact on the Indian economy. India had seen a very difficult phase after independence when the economic condition of the country declined at a rapid speed. The government of India as well as the talented youth have worked hard to raise it.
Decline in Indian Economy
India was once known as the golden sparrow because of the wealth accumulation in the country. This is one of the main reasons it attracted foreign invaders. After the colonisation by British, India was left with almost nothing. Most of the Indians were engaged in cottage industries. However, the products manufactured by them were no longer in demand as people had begun using industrial goods. This had an adverse affect on the economic condition of these artisans and resulted in the decline in the country’s economy.
Government Policies for India’s Economic Growth
Handling the economic condition of the country was one of the main challenges for the newly formed Indian government. In order to ensure an upward graph, it came up with the following policies:
Ample means of livelihood to the citizens of the country.
Equal pay for equal work without any gender bias.
Improvement of public health and standard of living.
Prevent concentration of wealth.
Distribution of the ownership of community’s material resources.
Reasonable wages for workers so that they afford a decent standard of living.
Promotion of cottage industry by state.
Economic Growth of India
The efforts of the Indian government and the hard work of the general public have paid off. India has become one of the fastest growing and developing nations. Our country has made good progress in various industries during the last few decades and this has led to its economic growth. Information Technology, infrastructure, retail, financial services, automotive and healthcare are among the sectors that have seen a major boom lately. These are growing at a steady pace and are contributing majorly to the country’s economic growth.
The average GDP of our country is around 7 percent. India stands at the seventh position worldwide when it comes to GDP. However, even as India has attained this stature, the picture is not all rosy. The main problem of our country is unequal distribution of wealth. While a good amount of our population is earning well and is contributing towards the country’s economic growth, many people are still not able to make their ends meet. There are still many people in our country who are living below the poverty line. The economic growth of our country is of no good if such extreme poverty still persists.
Conclusion
The government of our country has taken several initiatives to ensure the economic growth and development ever since independence. Many of these initiatives have proved to be fruitful and have contributed to the country’s economy. The sharp mindedness of the Indian youths and the numerous initiatives taken by the Indian government has collectively contributed to the economic growth. However, we still have a long way to go.
HOPE IT'S HELPFUL....
Answered by
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A essay on problems and growth of Indian economy:
- Indian economy faces various problems like unequal distribution of wealth, unemployment due to lack of skilled workforce, non-recovery of bank loans and rupee depreciating due to low export and trade war at the world level.
- The growth of the economy in the last five years is high due to various reforms such as GST, single-window clearance system, etc taken by the government in terms of improving 'ease of doing business ranking'.
- However, the industries are suffering due to bad loan problem and the banking industry is at risk with GST being a major hurdle for a slowdown 'in the last two years'.
- In the long term, the economy will grow steadily due to the positive environment build.
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