What are the rising challenges that the Indian economy has to overcome in order to expand it's GDP growth
Nikita KaparwanBegginer
Resources & Suggestions
Mains Answer Writing Latest Articles
On: February 24, 2025
Daily Answer Writing Practice Questions (24 February 2025)
The rise of the work-from-home culture has brought about several ethical issues in private organizations. In this context, do you believe it is ethical for an employee to engage in moonlighting? Discuss. (Answer in 150 words) घर से काम करने ...
On: February 22, 2025
Comments:
0
Indo-US Relation: Areas of Cooperation & Conflicts
Key Areas: Defense, technology, trade, energy, and regional cooperation. Key Areas of Cooperation 1. Defense and Security Transition from buyer-seller to co-production and technology sharing. India as a Major Defense Partner (MDP) and inclusion in STA-1. Access to advanced technologies, ...
On: February 22, 2025
Comments:
0
भारत-अमेरिका संबंध: सहयोग और संघर्ष के क्षेत्र
मुख्य विषय: भारत-अमेरिका संबंधों की मजबूती, विशेषकर रक्षा, प्रौद्योगिकी और क्षेत्रीय सहयोग में प्रगति। सहयोग के प्रमुख क्षेत्र 1. रक्षा एवं सुरक्षा सहयोग भारत और अमेरिका के बीच रक्षा संबंधों का विस्तार। प्रमुख रक्षा साझेदार (MDP) का दर्जा और STA-1 ...
The Indian economy faces several rising challenges that need to be addressed to boost GDP growth:
1. **Unemployment**: A growing population means more people are looking for jobs. India needs to create enough employment opportunities, especially for the youth, to harness their potential.
2. **Inflation**: Rising prices of goods and services can reduce purchasing power and affect living standards. Keeping inflation under control is crucial for economic stability.
3. **Infrastructure Development**: Poor infrastructure, like roads, railways, and power supply, can hinder business operations. Investing in better infrastructure is essential for facilitating trade and attracting investments.
4. **Agricultural Dependency**: A significant portion of the population relies on agriculture, which can be vulnerable to climate change and fluctuations in weather. Diversifying the economy and improving agricultural practices are necessary.
5. **Inequality**: Economic disparities between different regions and communities can create social tensions. Addressing these inequalities through inclusive growth policies is important.
6. **Global Competition**: As the world becomes more interconnected, Indian businesses face competition from international players. Strengthening domestic industries and fostering innovation can help them compete effectively.
By tackling these challenges, India can create a more robust economy and achieve higher GDP growth.
The Indian economy faces several rising challenges that need to be addressed to boost GDP growth:
1. **Unemployment**: A growing population means more people are looking for jobs. India needs to create enough employment opportunities, especially for the youth, to harness their potential.
2. **Inflation**: Rising prices of goods and services can reduce purchasing power and affect living standards. Keeping inflation under control is crucial for economic stability.
3. **Infrastructure Development**: Poor infrastructure, like roads, railways, and power supply, can hinder business operations. Investing in better infrastructure is essential for facilitating trade and attracting investments.
4. **Agricultural Dependency**: A significant portion of the population relies on agriculture, which can be vulnerable to climate change and fluctuations in weather. Diversifying the economy and improving agricultural practices are necessary.
5. **Inequality**: Economic disparities between different regions and communities can create social tensions. Addressing these inequalities through inclusive growth policies is important.
6. **Global Competition**: As the world becomes more interconnected, Indian businesses face competition from international players. Strengthening domestic industries and fostering innovation can help them compete effectively.
By tackling these challenges, India can create a more robust economy and achieve higher GDP growth.