To start with the most evident fact which entails India to be the fastest growing economy in modern times. The average growth rate of the GDP of the Indian economy is 6.33% with its current standing at 8.2%. It has already surpassed the United Kingdom by becoming 5th largest economy in the GDP rankiRead more
To start with the most evident fact which entails India to be the fastest growing economy in modern times. The average growth rate of the GDP of the Indian economy is 6.33% with its current standing at 8.2%. It has already surpassed the United Kingdom by becoming 5th largest economy in the GDP rankings.
There are several reasons why India can become a developed nation. First and foremost is the population structure of India, though we stand at a grand 1.45 billion surpassing China, there is a point to be noted that more than 50% of its population is below the age of 25 and more than 65% is below the age of 35 showcasing increased productivity further having a positive impact on its GDP.
The current advent of new businesses and start ups have further increased job opportunities. In addition to this the New Education Policy that is being implemented will transform the education sector, helping students learn actual valuable skills rather than rote learning through field projects focusing on a more holistic developmental approach.
The most basic thing the citizens of India can do to haste the developmental process is inculcating discipline in every aspect of their life. Be it traffic rules, safety rules, abiding by the law, stopping bribery or living a disciplined life even in terms of maintaining good health to increase the production capacity of the economy. The second aspect being maintaining peace and harmony and living by the morals of unity in such a vastly diverse country. These aspects will surely impact the developmental process procell of India to become a leading economy and superpower soon.
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Capitalism has reshaped the traditional societal values in India to a great extent. It has led to profound changes in social, cultural, political as well economic aspects of Indian society in various ways as mentioned below - 1. Materialism and Consumerism Consumption has significantly increased sinRead more
Capitalism has reshaped the traditional societal values in India to a great extent. It has led to profound changes in social, cultural, political as well economic aspects of Indian society in various ways as mentioned below –
See less1. Materialism and Consumerism
Consumption has significantly increased since the rise of capitalism. The demand for luxury products and the yearning for a higher level of living has doubled.
2. Relationships and the Structure of Families
There is increase in nuclear families as a result of urbanization and economic liberalization. Increased career and educational mobility have undermined the conventional family unit.
3. Employment and Gender Roles
Women now have more options for employment and education due to the increasing economy’s need for a varied workforce and has led to break in traditional gender roles, more gender equality and independence.
4. Increase in Career aspirations
With the rise in popularity of new businesses like IT, banking, and the creative industries, there is a wider range of job options currently. There is emphasis on start-ups and entrepreneurship.
5. Class Structure and Social Mobility
The social mobility has greatly increased due to increase in economic opportunity. Social status is increasingly determined by meritocracy and financial achievement.