Some people continue to defend trickle-down theories, which assume [? This opinion, which has never been confirmed by the facts [! Pope Francis IEvangelii Gaudium, "The Joy of the Gospel," November 26,exclamations and questions added, The European Dream, with its emphasis on collective responsibility and global consciousness
This helped the Indian economy to achieve a rapid rate of economic growth and economic development. However, the economy still faces various problems and challenges, such as corruption, lack of infrastructure, poverty in rural areas and poor tax collection rates.
GDP per capita in Geary-Khamis dollars data range 1. Unemployment Despite rapid economic growth, unemployment is still an issue in both rural and urban areas. The fast rate of economic growth has left unskilled workers behind, and they have struggled to find work in growing industries.
Livemint reported on March 6, WIth, little if any government welfare support for the unemployed, it leads to dire poverty. It is worse in rural areas and amongst women.
This limits economic development and a more skilled workforce. Poor Infrastructure Many Indians lack basic amenities lack access to running water.
Indian public services are creaking under the strain of bureaucracy and inefficiency. Balance of Payments deterioration. Although India has built up large amounts of foreign currency reserves, the high rates of economic growth have been at the cost of a persistent current account deficit.
Since then there has been an improvement in the current account. But, the Indian economy has seen imports growth faster than exports. This means India needs to attract capital flows to finance the deficit.
Also, the large deficit caused the depreciation in the Rupee between and Whilst the deficit remains, there is always the fear of a further devaluation in the Rupee. There is a need to rebalance the economy and improve the competitiveness of exports. However, there are concerns about the risk of such loans.
If they are dependent on rising property prices it could be problematic. Furthermore, if inflation increases further it may force the RBI to increase interest rates.
If interest rates rise substantially it will leave those indebted facing rising interest payments and potentially reducing consumer spending in the future 6. Inequality has risen rather than decreased.
It is hoped that economic growth would help drag the Indian poor above the poverty line. However, so far economic growth has been highly uneven benefiting the skilled and wealthy disproportionately.
More than 78 million homes do not have electricity. Furthermore with the spread of television in Indian villages the poor are increasingly aware of the disparity between rich and poor. Large Budget Deficit India has one of the largest budget deficits in the developing world.
Although it is fallen a little in the past year. It still allows little scope for increasing investment in public services like health and education.
Rigid labour Laws As an example Firms employing more than people cannot fire workers without government permission.
The effect of this is to discourage firms from expanding to over people. It also discourages foreign investment.India has billion people living in 25 states, speaking 19 major languages and over a dialects, practicing over about 6 religions and belonging to thousands of .
Article shared by. Major causes leading to inflation are as follows: Causes 1. Increase in money supply: Over the last few years the rate of increase in money supply has varied between 15 and 18 per cent, whereas the national output has increased at an annual average rate of only 4 per cent.
Problems Facing Indian Economy Since , the Indian economy has pursued free market liberalisation, greater openness in trade and increase investment in infrastructure.
This helped the Indian economy to achieve a rapid rate of economic growth and economic development.
INFLATION ( words) OUTLINES: INTRODUCTION LEADING CAUSES OF INFLATION FRAGILE ECONOMIC POLICES HOARDING, DISHONEST ATTITUDE OF TRADERS STEPS TO CHECK INFLATION CONCLUSION Inflation refers to a continuous, general increase in .
In the long term, stocks and precious metals are good protection against inflation. Inflation is a serious problem for fixed income investors. It's important to understand the difference between.
The book An Essay on the Principle of Population was first published anonymously in , but the author was soon identified as Thomas Robert rutadeltambor.com book predicted a grim future, as population would increase geometrically, doubling every 25 years, but food production would only grow arithmetically, which would result in famine and starvation, .