INDIA'S ECONOMY: OVERVIEW                                      0F PRESENT


          India's economy was growing at a respectable rate during the 

first decade of the twenty first century. But Manmohan Singh's UPA 

govt.'s performance in its second term (2009-2014) 

was disappointing. By its end, gdp growth slowed down to 4 to 5% 

from about 8% to 9 %. In 2014, BJP came to power on the basis of 

"Achchhe Din" promises of Narendra Modi which convinced 

most Indians of change for the better. But the performance of last 6 

years of Modi govt. has fallen far short  of its high expectations.  

India's gdp growth has gradually slowed down from 8% to 4%, even 

prior to the arrival of Kovid-19.  The pandemic has added fuel to the 

fire, driving India's economy into negative growth territory. The 

unemployment has reached to more than 20% among the urban 

educated youth.(By the way, China's gdp, at present, is about five 

times that of India, despite having equally large population.) 


          Unless drastic corrective steps are taken, India's economy is 

likely to be mired into a middle income trap for many years. The 

foremost priority and focus for the developing countries like 

India should be economic development and upliftment of people out 

of poverty. The bent of current ruling party toward Hindutva cultural 

identity based on India's glorious past and religious intolerance 

toward  certain minority is not conducive to this goal. With such 

divisive distractions how can we attract foreign investment into 

India?


          A few suggestions from experts to improve the economy are: 

(1) Strong fiscal stimulus to the bottom half of the population even 

at the cost of increasing fiscal deficit. (2) Generous expenditure 

on infrastructure projects to employ the unemployed (specially rural 

women), and thereby attract foreign trade. (3) Decentralize decision 

making in running the government.



















quic generous 




















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