Owing to a string of volatile global economic factors, Indian economy has been on a downward slide for the past few years. The economic slowdown has now become a very direct attack on the common man with rupee-dollar exchange instability, the ever-increasing inflation etc. Earlier, with the developing economy of India, we were a promising market for the global investors and entrepreneurs, and the economy showed an emerging trend. But gradually, a weak economic strategy based on corruption practiced by the current government stalled all the further growth prospects, thus leading the economy to suffer on a global scenario. The cascading journey of rupee-dollar may or may not settle at a point of time but the impact of continuous rupee depreciation is really going to have serious adverse effects. And this time, the immediate consequences of the falling economy are not only felt by the volatile investment market, and super-rich business class, but also by the common man who feels the pinch in everyday life. With Indian currency hitting a low in comparison with US dollar and inflation, it is our purchasing power which is getting diminished. Even the prices of essential items are at towering heights and have become a burden for the pocket of the common man. The country's foreign exchange reserves have hardly seen any growth in the last five years. In India, imports are more in term of exports. With rupee taking a weak position against dollar, essential items like crude oil, pulses, edible oil, fertilizers, medicine, iron ore and coal, which occupy a major share of India’s import, are going to get costlier by day. RBI is not able to put any further cuts in the policy rate, which again adds to the borrower’s pains. The students who study abroad are hit the worst with a depreciating rupee in hand. They have to bear a major chunk of expenses of the entire course. One of the major revenue sources of the country, India tourism , is also very badly hit with a sinking economy. International tours have declined steeply as most of the travelers have to shell out double the amount for a foreign trip than in the previous years. Most of the social welfare projects and many projects in various domains like infrastructure development, insurance, foreign investment have been stalled due to insufficient funds. The government is also trying to restore the economic growth back on to the progressive road with different fiscal and monetary policies that account for better economic growth. In order to regulate the outflow of foreign currency, RBI has also taken various measures to strengthen the Rupee. It has become very inevitable for the rupee to be saved and become constant so that the economy is slowly put back to the rails of development and growth.
I dont understand the reason India is among st the countries who have a huge number of working youth still the economy of our country is falling down
