Challenges faced by the Indian economy from "summary" of Oswaal NCERT One For All for UPSC & State PSC's Indian Economy Classes-9 to 12 (Old & New NCERT Edition) (For 2023 Exam) by Oswaal Editorial Board
The Indian economy faces several challenges that hinder its growth and development. One of the major challenges is the problem of unemployment. The lack of job opportunities for the growing workforce leads to underutilization of human resources and affects the overall productivity of the economy. This issue is further exacerbated by the mismatch between the skills possessed by the workforce and the skills demanded by the market. Another significant challenge is the issue of poverty. Despite several poverty alleviation programs and schemes, a large section of the Indian population still lives below the poverty line. Poor infrastructure, lack of access to basic amenities, and unequal distribution of wealth contribute to the persistence of poverty in the country. In addition to unemployment and poverty, the Indian economy also faces challenges in the form of inflation and fiscal deficit. Inflation erodes the purch...
Similar Posts
Role of monetary policy in economic stability
Monetary policy plays a crucial role in maintaining economic stability by influencing the money supply, interest rates, and inf...
South Asia's diaspora communities play a significant role in global politics and economics
The dispersed communities originating from South Asia have a notable impact on global affairs, particularly in the realms of po...
High inflation unemployment rates challenges
High inflation and unemployment rates pose significant challenges to the Indian economy. When inflation is high, it erodes the ...
Kalam's humility endeared him to colleagues and students
Kalam's humility was a distinguishing trait that set him apart from his colleagues and students. This humility was not just a s...
Technological disruptions reshaped industries
The history of business in India has been marked by the transformative impact of technological disruptions on various industrie...
Continuous evaluation and adaptation are necessary
In the process of economic development, it is essential to constantly evaluate and adapt strategies and policies to address cha...