Major Problems Faced Indian Economy On A Current Basis

India is considered to be one of the largest economies of the world. With its population currently rising, the minimal output of economic development is currently recording its slowest growth. The reason for this slowest growth depends on a large number of oåf factors. While on one hand technological advancements are booming, the problem of inequality still persists. As start-ups have devoted to half of the income growth in the country, half of the country still faces issues of proper food, clothing, and shelter. Therefore, let us ponder over some major tips to pay attention to the reason for this slouching economy!

Major Problems Faced Indian Economy On A Current Basis:

Major Problems Faced Indian Economy On A Current Basis

Points that highlight problems of the Indian economy:

  • The national income per capita is very less
  • There are high inequalities prevalent
  • Agriculture still is the backbone for half of the population
  • The population is increasing
  • Unemployment still persists
  • No infrastructure growth
  • Technological advancements are very slow

Some of the major problems faced by the Indian economy are as follows:

  1. The national income per capita is very less

The national income of the largest democracy in the world is still not enough to contribute to economic advancement. In such a situation, the per capita income is really less. If the national income of the people stands on the higher side, then the per capita income also increases. This can uplift the economy in a better manner!

  1. There are high inequalities prevalent

Although the Indian economy boasts of quality education in both the sexes, it still rests on unequal conditions of work and pays. This inequality in both professional, as well as personal fields, has led to the slow development of the Indian economy. The total population of the country is not able to come to terms as per their income and the poor consistently seems to be exploited by the rich!

  1. Agriculture still is the backbone for half of the population

Although major improvements are taking place, the Indian economy is heavily based on agriculture. Therefore, 70% of the population helps in farming and only 30% work in the cities. In order to get better job prospects, the rural population is moving to the cities, resulting in more manual labor. The income is less and the cities also receive population explosion.

  1. The population is increasing

As more and more individuals are moving to the cities, the population is increasing on a daily basis. The viciousness of poverty and its cruel effects have affected the Indian economy in the worst manner. The Indian economy is under constant pressure to do away with the population but is constantly facing the issue with a wide growth rate. Even family structures have ruined in developing countries and have consequently led to more population growth!

  1. Unemployment still persists

Unemployment is one of the major issues that the Indian economy is facing since traditional times. Even in recent years, unemployment still persists and the poor get poorer every single minute. The unknowing exploitation of rich people stays the same. Inadequate education facilities have long persisted this unemployment and the result today, seems shocking. Therefore, even 40% of today’s youth are still unemployed even if they have qualified university degrees.

  1. No infrastructure growth

Undeveloped infrastructure is one of the greatest means to contribute to the low economy for India. The record of infrastructure growth is limited to some sectors only. This has led to irregularity in construction and made it less possible to boost the economy. On a further basis, there isn’t any true growth in transport, communications, science, and health!

  1. Technological advancements are very slow

Although space missions are fulfilled and accomplished, there isn’t any true growth in the field of technology. Illiteracy is the main cause that no individual is able to receive the fruits of their efforts. Low inputs have forced workers to resort to traditional methods of working instead of improved ones!

How to solve the issue of this economy?

Although industries are growing rapidly, one of the most important considerations that can be kept up with is to educate the masses. More than 40% of the Indian population is still illiterate and below the poverty line. Therefore, the stance of education is one of the only possibilities that can help the economy rise from its ashes. To keep up with a daily improvement, the Indian youth has more power. Directing the positive energy of the youth towards a promising future can further help to activate the scene of the Indian economy.