Why as a fast growing economy India is still a underdeveloped nation ?
Most of the time in news there are many anchors and editors highlight one news "India is one of the fastest growing economy in world according to IMF, world Bank and so many economics reports. But isn't a truth about Indian economy because if India is a faster growing economy then why there is 6.1 percent of unemployment rate , how still India's fiscal in deficit ?. Why still in India there are so,many people under poverty line ?. Why India's trade deficit widened to 15.33 billion US dollars in April 2019 from 13.71 billion in the same month last year( According to trading economics report). There are so, many questions but most of the answer of these questions I found in itself. First, if I talking about why India's unemployment rate goes to 6.1 percent in present,which was highest in 40 years. The reason behind of Highest unemployment rate because of increasing population day by day, lack of transparency in Indian system, lack of skilled labour, failure of govt policies, lack of resources, one of the reason is Artificial intelligence and so on . In above all these reason are totally responsible for raising of unemployment rate in India but two reasons what I found at the ground level is,one :- unskilled labour and second:- population boom, If government does not make policies to control population boom or policies to make skilled labour then these reasons continuously effect on Indian economy so far. In my views if India wants to be developed nation in world then government will have to be first focused on ground level problems. Government have to be started some skilling Courses at the schooling level as like USA and other developed countries. Now, derived to another point why so,many people still,under the poverty line ?. In India outoff 5 every 1 person is under poverty line according to world bank group report. The biggest reason behind poverty is intense level of corruption, lack of transparency in bureaucracy, population boom, inflation, one of the biggest reason what I found is discrimination between rich and poor. From the UPA government to NDA government there several programs was started to eradicate poverty from whole country ,these programs like, garibi hatao at the time of indira Gandhi, rural development program, MGNREGA at the time of pm Manmohan Singh govt and on the other side, Pradhan mantri Jan dhan Yojana, Pradhan mantri awaas Yojana etc (at the Narendra Modi tenure.. ongoing). These are some of the impressive steps was taken by the government. But still poverty is effective on Indian economy. I think government will have to more work on poverty to reduced from 21.1 Percent (according to 2018 report) to zero percent. Last, why India's trade deficit is widened ?. India is still underdeveloped because of India's trade is in deficit. India is eleventh largest importer in world . India import maximum amount of crude oil from Saudi Arabia, US and other OPEC nations, India spent billions of dollars to import crude oil and other products rather then invent their own. India's maximum import with China, US and Russia. So, in this question I found that the biggest reason of trade deficit is import. To decrease the rate of trade deficit indian government will have to make some policy or try to discover and innovate some of the other resources so that in future trade deficit will down. In this article the main focus is on the Indian economy growth. Even though most of the reports are published by international organisation but still the ground level report is different. In my opinion a country is growing when these problems were eradicate or curb by the Government from whole nation.
By ------------- Deepak Maurya.
Most of the time in news there are many anchors and editors highlight one news "India is one of the fastest growing economy in world according to IMF, world Bank and so many economics reports. But isn't a truth about Indian economy because if India is a faster growing economy then why there is 6.1 percent of unemployment rate , how still India's fiscal in deficit ?. Why still in India there are so,many people under poverty line ?. Why India's trade deficit widened to 15.33 billion US dollars in April 2019 from 13.71 billion in the same month last year( According to trading economics report). There are so, many questions but most of the answer of these questions I found in itself. First, if I talking about why India's unemployment rate goes to 6.1 percent in present,which was highest in 40 years. The reason behind of Highest unemployment rate because of increasing population day by day, lack of transparency in Indian system, lack of skilled labour, failure of govt policies, lack of resources, one of the reason is Artificial intelligence and so on . In above all these reason are totally responsible for raising of unemployment rate in India but two reasons what I found at the ground level is,one :- unskilled labour and second:- population boom, If government does not make policies to control population boom or policies to make skilled labour then these reasons continuously effect on Indian economy so far. In my views if India wants to be developed nation in world then government will have to be first focused on ground level problems. Government have to be started some skilling Courses at the schooling level as like USA and other developed countries. Now, derived to another point why so,many people still,under the poverty line ?. In India outoff 5 every 1 person is under poverty line according to world bank group report. The biggest reason behind poverty is intense level of corruption, lack of transparency in bureaucracy, population boom, inflation, one of the biggest reason what I found is discrimination between rich and poor. From the UPA government to NDA government there several programs was started to eradicate poverty from whole country ,these programs like, garibi hatao at the time of indira Gandhi, rural development program, MGNREGA at the time of pm Manmohan Singh govt and on the other side, Pradhan mantri Jan dhan Yojana, Pradhan mantri awaas Yojana etc (at the Narendra Modi tenure.. ongoing). These are some of the impressive steps was taken by the government. But still poverty is effective on Indian economy. I think government will have to more work on poverty to reduced from 21.1 Percent (according to 2018 report) to zero percent. Last, why India's trade deficit is widened ?. India is still underdeveloped because of India's trade is in deficit. India is eleventh largest importer in world . India import maximum amount of crude oil from Saudi Arabia, US and other OPEC nations, India spent billions of dollars to import crude oil and other products rather then invent their own. India's maximum import with China, US and Russia. So, in this question I found that the biggest reason of trade deficit is import. To decrease the rate of trade deficit indian government will have to make some policy or try to discover and innovate some of the other resources so that in future trade deficit will down. In this article the main focus is on the Indian economy growth. Even though most of the reports are published by international organisation but still the ground level report is different. In my opinion a country is growing when these problems were eradicate or curb by the Government from whole nation.
By ------------- Deepak Maurya.
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