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...
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