What are the best steps to boost Indian economy? - letsdiskuss
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Kuldeep Giri

Teacher | Posted on | Share-Market-Finance


What are the best steps to boost Indian economy?


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Entrepreneur | Posted on


I have said this time and again, the best way to boost the Indian economy (or any economy for that matter) is to focus on primary and secondary education. Once kids are getting a proper education, they would be self-sufficient. They would know exactly what needs to be done to be employed and/or bring income to the family.

(Plus, it would also have a moral and psychological impact, which will help improve the social fabric of our country. But this is a whole different topic altogether.) 

Letsdiskuss
 (Courtesy: World Bank)

Once families’ purchasing power increases, per-capita income will increase. Collectively, this will boost the Indian economy, positively cascading into many different economic metrics, from CPI to GDP to employment. 
 
Now evidently, this is a long-term solution, which will take at least 2 generations to become a reality. I am all for it for my kids and grandkids. 

But we’re looking for short-term solutions here to boost the Indian economy… 

I think the simplest thing the government can do right now is to make foreign investment easier. Yes, our FDI infrastructure has improved significantly. In fact, according to Financial Times, India was the #1 destination for Foreign Direct Investment in 2015, overtaking USA and China. But there are still many technical problems that prevent large companies from entering the Indian market. Red tape and corruption are very high in our country. There are lots of paperwork delays. All these put off many companies who genuinely want to grow in India. 

If entering Indian market is made easier for the foreign investors, it would have a direct and massive impact on our GDP, which, of course, isn’t a perfect parameter to gauge economic development but we don’t have a definite metric yet to replace it. 

indian-economy-letsdiskuss (Courtesy: Business Standards)

Another thing the government can do is to focus on infrastructure development. Urbanization in India is happening at a slow pace (when you aren’t comparing it with other nations). By doing so, the government can bring massive employment opportunities to millions of workers and laborers who aren’t as skilled. And when the country’s employment rate is high, so will the GDP. 

indian-economy-letsdiskuss
(Courtesy: The Dialogue)

These are 2 basic things that the government can focus on immediately to boost the Indian economy. Other measures, in my opinion, include: making people aware (or teach them) how to start their own business, making primary health care free and more accessible, lowering inflation (which will increase the purchasing power of households), and STOP integrating social well-being with political propaganda. 

These quick measures which the government can start working on right away can help boost the Indian economy significantly.


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Blogger | Posted on


There can be a rundown to follow up on with the end goal to enhance the present economy of india. In which the most importantly the things I would recommend

To draw out this modi government out of picture. No offense to anyone I don't bolster any political gathering whatsoever, But one thing I saw in this BJP drove government everyone in india began concentrating on their own religious viewpoints as opposed to concentrating on things which will be useful for the entire nation. Simply consider it we were not contemplating dairy animals butchering prior when congress was in power, despite the fact that this issue was brought up in their decision just, nobody was profoundly worried about it. much the same as this one there are numerous different religious issues which were raised back over 5 years however they were not seen before. Presently, I don't know how the need changed.

Second critical thing as indicated by me is The GST Game, GST has influenced the economy contrarily you could see a few articles in the news these days with respect to gst affect. GST has been before actualized in numerous nations and in greatest of them it was a flounder. In spite of knowing this reality it has been executed and furthermore with the most astounding rates ever. There is extremely a defining moment behind it, supposing that BJP truly needed to assist the general population and the framework with GST they would have not contradicted to actualize it in the congress time. GST will before long make a misfortune circumstance.

Third thing as an indian I would consider the Digital India move. Computerized India's vision as said by the authorities is to make india paperless and getting less tedious exchanges, But as indicated by me it's vision is to follow every single exchange of every person into records, with the end goal to arraign suspects if not made good on regulatory obligation. Presently, let me reveal to you how it effect's the economy of india, we indians still feel shaky doing exchanges online in light of the online tricks we relatively ordinary read or tune in about and these days because of strict appraisals by tax assessment authorities we are affraid of spending a major sum for something. Which results into low buying force. This thing some place should be dealt with all together enhance economy.

These are couple of things which are affecting contrarily on the indian economy. Be that as it may, there should be possible a lot more things to enhance the economy.


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