Brief Essay on Indian Economy ( Words)

 

essays on indian economy

Apr 13,  · A festschriftin honour of Montek Singh Ahluwalia, this brings together essays by economists who have been closely associated with him in college, the World Bank, or in government. There is palpable adAuthor: K. SUBRAMANIAN. After reading these essays you will have every essential information about Indian economy and its status. You will also know how the economy of a nation depends on corruption and education of its people. Short Essay on Indian Economy – Essay 1 ( words) India is mainly an agricultural economy. Words Essay on Indian Economy: Adopting New Approach Article shared by After independence, India chartered a path of economic development based on mixed economy, building a new industrial structure around the public sector and a closely monitored, regulated and controlled system where government played the role of licenser in the process.


Essay: Indian Economy and Economic Reforms


The economy of India could well be described by two words — developing and mixed. Developing economy means that it is still developing and not as affluent as the economy of some of the developed western countries. Mixed economy on the other hand refers to a capitalist economy as well as an amalgamation of private and public enterprises. Indian economy is growing at a good rate. The agricultural, industrial as well as essays on indian economy sector in our country is expanding and improving with time and thus contributing essays on indian economy its economic growth.

However, just like other developing countries, the economy of India is also faced with numerous challenges. Some of the major challenges faced by the Indian economy are corruption, illiteracy and huge cultural, social and economical disparity among its states. Here we are providing essay on Indian Economy of varying lengths to help you with the topic in your exam.

After reading these essays you will have every essential information about Indian economy and its status. You will also know how the economy of a nation depends on corruption and education of its people.

India is mainly an agricultural economy. Agriculture does not just mean growing and selling of crops but also involves poultry, fishing, cattle rearing and animal husbandry among other similar activities.

People in India earn their livelihood by indulging in many of these activities, essays on indian economy. These activities are vital for our economy. The industrial sector comes next. Many industries have surfaced in our country ever since the industrial revolution, essays on indian economy. The industrial sector has especially seen a boom in the last few decades. We also have small scale industries such as clothe industry, plastic products industry, jute and paper industry, food processing industry and toy industry.

Our small scale industries also give a good boost to the economy. Apart from this, we have service sector which is another contributor to essays on indian economy Indian economy.

This sector includes the banking sector, hotel industry, telecom sector, insurance sector, transport sector and more. Professionals such as engineers, doctors and teachers also come under this sector. Indian economy has seen a major growth in the last few decades.

The credit for this boom largely goes to the service sector. Agriculture and associated activities have also been improvised to match the global standards and the export of various food products has seen an upward trend thereby adding to the economic growth.

The industrial sector does not lag behind a bit. A number of new large scale as well as small scale industries have been set up in the recent times and these have also proved to have a positive impact on the Indian economy. During the last year, India suffered from inflation due to the essays on indian economy in the prices of food items.

However, it is recovering from the loss and the economic condition is likely to improve this year. It essays on indian economy been estimated that if we continue to grow at this rate, we would likely become one of the top three economic powers in the world over the next decade or two. We have a pool of essays on indian economy and creative youths who are hard working and ambitious.

Our essays on indian economy is also taking initiatives to improve the economic condition of the country by bringing in essays on indian economy opportunities for employment and business. No wonder, our economy is growing at a good pace. British ruled our country for nearly years. They looted our country and left it in a poor economic state. However, essays on indian economy, our efficient political leaders who played a major role in the independence of the country took charge of essays on indian economy condition and worked collectively for its socio economic progress.

The government of the country assessed the problematic areas and came up with policies to raise its economy. Majority of the working Indian population was and is still engaged essays on indian economy the agriculture sector. Growing crops, fishing, poultry and animal husbandry were among the tasks undertaken by them.

Many people were also engaged in the cottage industry. They manufactured handicraft items that were losing their charm with the introduction of the industrial goods.

The demand for these goods began to decline. The agricultural activities also did not pay enough. The government identified these problems as hindering the economic growth of the country and established policies to curb them. Many industries have been set up since independence. Large number of people shifted from the agricultural sector to the industrial sector in an attempt to earn better.

Today, we have numerous industries manufacturing large amount of raw material as well as finished goods. Pharmaceutical industry, iron and steel industry, chemical industry, textile industry, automotive industry, timber industry, jute and paper industry are among some of the industries which have contributed a great deal in our economic growth, essays on indian economy. The service sector has also helped in the growth of our country.

This sector has seen a growth in the last few decades. The privatization of the banking and telecom sectors has a positive impact on the service sector. The tourism and hotel industries are also seeing a gradual growth.

The Indian economy has essays on indian economy several positive changes since independence. It is growing at a good pace.

However, the rural regions of our country are still under-developed. The government must make efforts to improve the economic condition of these areas. Indian economy is growing at a steady speed. The increasing number of various manufacturing industries the growth in export of manufactured goods and the privatization of banking and telecom sector have made a positive impact on the Indian economy.

India had seen a very difficult phase after independence when the economic condition of the country declined at a rapid speed. The government of India as well as the talented youth have worked hard essays on indian economy raise it. India was once known as the golden sparrow because of the wealth accumulation in the country.

This is one of the main reasons it attracted foreign invaders. After the colonisation by British, India was left with almost nothing. Most of the Indians were engaged in cottage industries. However, the products manufactured by them were no longer in demand as people had begun using industrial goods.

Handling the economic condition of the country was one of the main challenges for the newly formed Indian government, essays on indian economy. In order to ensure an upward graph, it came up with the following policies:.

The efforts of the Indian government and the hard work of the general public have paid off. India has become one of the fastest growing and developing nations. Our country has made good progress in various industries during the last few decades and this has led to its economic growth. Information Technology, infrastructure, retail, essays on indian economy, financial services, automotive and healthcare are among the sectors that have seen a major boom lately.

The average GDP of our country is around 7 percent. India stands at the seventh position worldwide when it comes to GDP. However, even as India has attained this stature, the picture is not all rosy.

The main problem of our country is unequal distribution of wealth. There are still many people in our country who are living below the poverty line. The economic growth of our country is of no good if such extreme poverty still persists, essays on indian economy.

The government of our country has taken several initiatives to ensure the economic growth and development ever since independence. The sharp mindedness of the Indian youths and the numerous initiatives taken by the Indian government has collectively contributed to the economic growth. However, we still have a long way to go. The news of demonetization was a big shocker for every Indian, essays on indian economy.

In NovemberPrime Minister, Narendra Modi announced the scrapping of high value currency notes in an attempt to bring down the black money accumulation, essays on indian economy.

The decision was also aimed at promoting the use of plastic money. However, it called for a lot of discomfort and discontentment among the general public. The worst affected were the people in the rural areas who did not have access to internet and plastic money. Many big and small businesses in the country were hit badly.

Several of them were shut down as a result of this. While the short term effects of demonetization were devastating, this decision did had a brighter side when looked at from long term prospective.

Here is a look at the positive and negative impact of demonetization on the Indian economy:. Many businesses in India work on the power of black money. Demonetization helped in closing these businesses and destroying the black money accumulated by the people of India thus having a positive impact on its economy. A number of fake currency notes were being circulated in the country having a bad impact on its economy. Demonetization helped in doing away with the high value fake currency notes.

The circulation of the old currency notes was banned with immediate effect. All those who had these currency notes required depositing them in the banks so that their money did not go wasted.

Cash amounting to trillions of rupees was deposited in the Essays on indian economy banks and this led to an increase in the GDP of the country. Real Estate is one industry that runs largely on black money. Demonetization stopped the flow of black money in the real estate sector to ensure a fair play. The cash crunch in the market encouraged people to make digital transactions.

 

Essays on Indian economy - The Hindu

 

essays on indian economy

 

Introduction. Indian economy had experienced major policy changes in early s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. Apr 13,  · A festschriftin honour of Montek Singh Ahluwalia, this brings together essays by economists who have been closely associated with him in college, the World Bank, or in government. There is palpable adAuthor: K. SUBRAMANIAN. Essay on the Economy of India! The Indian economy is diverse and embraces a huge area including agriculture, mining, textile industry, manufacturer and a vast area of other services. There is an enormous shift from what the economy used to be in the distant past. Indian economy is .