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Economy of India and its effect on the people

January 05, 2012  by: kanduri narasimha  Points: 9   Category: Others  Earning $0.35   Views: 503

In this article, I have explained the position of Indian economy in the past and present.

         

Situation of Indian economy:


Now, India is in position to face financial risk as the value of rupee is decreased day by day. It is embarrassing that GDP of India is nearly 22% before British people came to India. In the administration of British people, position of Indian economy is very poor. As British people bought raw materials at very low cost, materials made by those raw materials were sold at higher prices to Indian people. After, India got independence, GDP of India is nearly at 1.9%. But, GDP of India increased to 9% during financial year 2006-07. When Independence came, Indian government focussed their concentration on agriculture to raise GDP of India. With that same spirit, till 2007, GDP has been accruing. But now, due to increase of population of India, Indian economy is in stagnate position. With the involvement of Man Mohan singh in 1991 in P.V.Narasimha Rao's government, there is revolutionary changes in economy were taken. Even those reforms are running in our economy. Even now the followings log behind our Indian economy.
1. Increase of population
2. Poverty
3. Unemployment
4. Illiteracy

1. Increase in population:


As there is increase of 2.3% in the population to the census calculations in 2011, Indian economy is not position to bear this population to introduce new strategies in Indian economy. Even new strategies were introduced but due to population all those strategies become vain.

2. Poverty:


In our India, most of the people live in villages. Maximum poor people also live in India. Nearly 38% of people are below poverty line. In every five years plan, government of India put an aim to remove poverty from India. But, it becomes impossible for India to remove poverty in India.

3. Unemployment:


As population increases government is not in position to give employment to young generation. To give employment to the people, government has to amend some rules. Till now, new schemes has been introduced to decrease unemployment.

4. Illiteracy:


Illiteracy is the main reason for economical backward to the country. Due to illiteracy, human resources become waste and government has to spend unnecessary amount for them.




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