India confronts grave economic issues : Without a shred of doubt, a vast country has lots of issues and a country like India, idyllic specimen of a multi-religious, multi-ethnic, multi-linguistic nation in conjunction with an enormous dimension, surely India has copious numbers of issues. Some of these issues have been going on from the days of British India even and are still unanswered. Definitely the most dominant of these happen to be economic. It is to be noted that economics is not a single and secluded factor and as a result, it does experience brunt of many others. One of the greatest economic issues, quite sidelined by the Indian governments, has been the imbalanced development along with unequal distribution of national wealth among constituent states of India. There is hardly any doubt that the Indian governance has been driven by parochial outlooks and the best specimen of the same is strengthening of western and northern part of the country depriving the eastern part. The issue has become too complicated by now. It is worthwhile to mention that Maoist insurgency, dubbed as the greatest internal threat to the India Unity, is also an economic issue and can’t be subdued by brutal forces so easily. The entire tribal belt has been victim to overwhelming exploitations (with the tacit support of local and higher forms of governance), even if the contribution of it to the Indian economy has been second to none. Is the ongoing Maoist movement retribution then? Perhaps this is the only way to make the reluctant institutions hear. Another pertinent India's Economy issue is the mounting differences between center and Indian states over consolidation of fiscal responsibility. However, it has got to be stated that India states in Indian federation are likely to share the accountability of fiscal consolidation together with discretion in a federal polity. There is no doubt in it that state finances have got to be fortified, especially for macroeconomic together with structural grounds
there are many issues of economy which needs attention, perhaps there are certain issues which are interlinked to the economy of india such as poverty and unemployed people. this reduces the per capita income of the nation greatly and eventually the GDP is also affected.
Dear Ignited Minds, My opinion is that Our economy will be strong only if our village economy is good. we need to develop a policy to look towards our villages and focus on them. once we develop villages and make farmers self sufficient, our backbone will be strong. then we can go on to other means of development. -Vande Mataram
the major issues that cannot be overlooked for our economy to progress are poverty and unemployment. these two are at their worst in india and need proper attention by the authorities which could be conducive for the people under these two sections. for a stable economy of india we need to have employed youth who can contribute something for the country at their best
Growth and Equal Distribution of Wealth: People have been campaining against poverty for long and only their own povery was ended, not the poverty of poors. India needs a capitalist system of economy (I am not against transparent controls favouring poor, a minimum level of food, clothing, shelter and employment should be ensured for all). It will ensure maximum growth and employment.
Unemployment is the biggest and growing problem of india which is due to the economic problem that the nation is facing and in return people have to face the unemployment. Unemployment is a dangerous problem that makes a person depressed and force him to take unwanted step like suicide. The growing economic problem is all due to the less facility the government is providing to the people to accomplish their work. they are busy in filling their own bags and hardly think about those people who actually require money to make things better.
we have very much of economic inequalities in our nation which is matter of concern and gov should take up this issue seriously. otherwise, we would have a india where there would two types of people, the rich and the poor where i think there would be huge gap which i do not think could ever be filled. with current status, i think our economy is leading in that way, so we need to concentrate on poorer sections now.
There are many economic issues in india that have already been discusses but what are the ways through which it can be mend are given here : In recent years, the country’s economy has properly maintained speedy development, injecting dynamism in to the global economic growth. Truths have confirmed the predictions made by the nation prior its WTO accessions: Nation’s development can’t be continued without the world as well as the world development requires India. The coming twenty years from now, India is considered of making some historic contributions towards the global economic developments as well as to the usual advancement of the mankind, whereas building a well off society in an around the world way. To acquire all this, nation will continue to explore and widen foreign trades and energetically implement its west development strategies, further enhance its investment climate as well as offer overseas investors along with greater business chances.
Area where we need to stress a lot is India's inclusive growth. Areas like women's education, poverty removal and most importantly proper implimentation of all programmes n policies of goverment directed towards rural households where 67% of our population lives.
The man problem according to me that india is facing in economy is nothing but the problem of poverty. this is the biggest concern of india in terms of economic growth, rest what ever you have given reasons are surely a matter of concern but can be considered secondary. Firstly poverty should be given importance to and steps are to be taken to eradicate this problem as soon as possible.
@rekhagupta Yea the man’s main problem is with poverty. In developed countries the government won’t allow anyone feel such problems and ultimately the one who has been in poverty starts his way to individuality, so thereby it’s an automatic process just we need to push the person to fly on his own
Government do not have to make feel anything to anyone. I developed countries people are sufficient enough to make their own livings and they are well cultured and educated enough to make cope their basic needs. But the thing is different with india as we are talking about india. Poor chidlren are too busy in their own work that they do not get time to study. and even if they get a chance they hardly go! Poverty is indeed a main issue here.
Lack of technology is according to me the main issue of india. People whoa re working in the agricultural sector and textile industry usually needs latest technology to make their work easier, but the government is not helping them out in providing with the same. workers do not have enough money to purchase these technology and hence they have to work as a labor that takes a hell lot of time in producing a thing that can be produced in minutes. This is one of the main issue that is hindering the growth of economy in india.
There are various Economic issues prevailing in India and the major reason for this is our weak policies made by incompetent finance ministers and their subordinates. Though we claim of developing economy, almost half of our nation still lurks in poverty. The economic inequality prevails high in the Indian sub-continent which i think is the prime concern.
The inflation rate in the Indian Economy is another issue of the Indian economy. In May this year, the Indian inflation was recorded as 8.72 percent. The inflation rate in India was last reported at 8.72 percent in May of 2011. In July, the June inflation was recorded at 9.44 percent. The problem of inflation has always gone up and due to this reasons economy of india is still hampering and facing a lot of problem.
Lack of education affecting the indian Economy in many ways. Despite high number of English speaking people in India, most of the population is not educated enough. Rural areas and women are found to be illiterate till date which is adversely affecting economy. Indian economic issues are many but the lack of education among people about the economy of india and how they are depriving the indian government from the good economic score is a matter of concern.
In my view the real economic issues start from the rural parts of India where none spares any attention. Everyone is busy in improving the standards of Metro cities and other urban cities, ignoring the rural areas which are the majority in India. Government is devising good policies but these are of no worth to those poor people living the rural places. Hence there remains an economic imbalance in the country.
As a developing nation, India is facing scores of issues, one leading to the other and economic issue is one of such. There are many economic issues that needs to be solved and are serious matter of concern. Unemployment and poverty are two main issues that needs to be resolved at an earliest. There are other issues that Government should look upon that is creating hindrance in the economic development of the nation.
India being a developing economy is facing certain economic issues, which are creating major hindrance in the development of the nation. The issues that are affecting out economy are fiscal deficit, high inflation, economic disparities, unemployment etc. These issues can be tackled by changing the present economic policies of our country. The economic policies of the nation needs to be reformed for economic development of the nation.
There is no doubt about, the economy of India is going to increase in leaps and bounds. The only link missing is implementation of economic vision. Politics is no doubt the biggest business. There is a huge amount of money coming in from the center under various different clauses; but almost zero amounts are given to end user, giving rise to Maoists and criminals. This has to stop in order catalyze the economy. Hard earned money paid as tax from over 1.2 billion people cannot be misused, or, likes of sand mafia, oil mafia, power mafia and liquor mafia will only increase in strength, causing unequal distribution of wealth. Subsidies and grants seen to be unending, giving rise to further inequalities in society; we cannot leave the doors of economy half open. It should wide open; allowing money to flow directly those in need. The Laissez Fare doctrine of ‘let it be’ is the only solution. Government intervention in the economy should only come if it is direly required. The rules and clauses in the present economy are a colonial hang up that has to be rehashed, in sync with the modern times. Political vision (read populist sops) should not clash with economic vision. Every economist knows populist vote bank only leads to Inflation and corruption. So any government in power should ensure that every rupee is accounted for. Look at this way: Of course the rich and powerful should have their fleets of Rolls Royce; but not at expense of a 50 year old lady walking 10 kilometers every day for an earthen pot full of water. True, a nation cannot eradicate poverty over night, but at least let us try; otherwise talk is cheap and brings nothing fruitful.
