What are The Prominent Economic Issues in India?

 Realization of the economic condition of the country is crucial. If you initiate to analyze the usual problems with the economic rise, you will find many. The focus on Economic Development is indispensable to recover public service. Several aspects are there that have proved as obstacles to the accelerated growth of the economy of the country. However, the pandemic hit has also led to the downfall in the economic growth ratio.  

Troubles causing factors for economy development: 

The elimination of the challenging factors is critical for the growth of the economy of the country. The appropriate management of the entire system may only help keep the development process on track. You can take at some of the issues that have created the obstructions: 

Increasing population: High population refers to the high demand for basic things. In the same way, it also seeks out a source of income. This is the factor that has affected the growth of the economy a lot. 

The availability of the resources is limited and hence the growing population of the country always leads to unexpected problems. Thus, it is important to impose control over the population rise for economic development at a faster rate. 

Rising unemployment: This factor is directly proportional to the increasing population. It is a fact that the source of employment is limited somewhat. But the population has no limitation. This kind of scenario has led to vast unemployment within the country. it is simply affecting the living standards of the individual. 

People with low income are unable to maintain the living standard and are bound to manage their basic needs somehow. Such a situation denotes poor management within the country.

Factors related to Low level of national income and per capita income: This specific factor affects economic growth deeply. The regular up and downs lead to instability and hence finally throws a negative impact on the ratio of economic progress. This is why the government needs to focus on this aspect to introduce the improvement. 

The survey has shown that India’s condition is not up to marl in terms of the per capita income. Therefore these are some of the aspects that demand attention and improvement.

Problems due to vast inequalities in income and wealth: The inequalities in income and wealth are also one of the other factors that have created challenges for the Indian economy. You can find problems based on these aspects at the greatest level. Still, it seems to increase more without any specific improvement. 

The source of income should have a standard system to pay their workers. This kind of implementation will help reduce inequalities as much as possible. Therefore, important initiatives are vital factors for the eradication of such problems. Government must take initiatives for proper management of the Indian economy for improved results. 

Prevalence of agriculture: India is a country of agriculture but technological advancement is also important to keep growing. Rural areas specifically depend on agriculture for their income as well. But the prevalence of agriculture indicates that India still needs to create more employment opportunities. It will help workers to receive a handsome amount for their livelihood. 

Underdeveloped infrastructure: It denotes the scarcity of necessary technologies and systems to accelerate the growth of the economy. Underdeveloped infrastructure also causes unemployment in multiple sectors and finally leads to poverty for those who do not have the financial backup.

Conclusion:

The economic growth of the country depends on certain aspects. But scarcity always leads to hurdles in development. The above points are the major causes to prevent economic growth at the expected level.