{"id":254320,"date":"2023-08-01T20:25:38","date_gmt":"2023-08-01T14:55:38","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=254320"},"modified":"2023-08-31T09:56:10","modified_gmt":"2023-08-31T04:26:10","slug":"express-view-on-indias-economy-sweet-and-sour","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/express-view-on-indias-economy-sweet-and-sour\/","title":{"rendered":"Express View on India\u2019s economy: Sweet and sour"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cExpress View on India\u2019s economy: Sweet and sour\u201d <\/strong>published in the \u201cThe Indian Express\u201d <\/strong>on 1st August 2023<\/strong>.<\/p>\n

Syllabus: <\/strong>GS3- Indian economy and growth<\/p>\n

Relevance:<\/strong> Growth prospects of Indian economy<\/p>\n

News- <\/strong>The article explains the present economic scenario<\/p>\n

Which indicators show a favourable economic situation?<\/strong><\/h2>\n

The IMF has recently upgraded its projection for the country’s economic growth to 6.1%. Inflation<\/strong> has been kept below the upper limit set by the central bank’s inflation targeting framework.<\/strong><\/p>\n

India’s foreign exchange reserves<\/strong> are at approximately $600 billion. The government has also successfully maintained its investment in infrastructure development<\/strong> throughout the nation.<\/p>\n

MNCs are increasingly considering India as a viable option<\/strong> in their business strategy, often referred to as the “China plus one” approach.<\/strong><\/p>\n

What are challenges for economic growth?<\/strong><\/h2>\n

Economic growth has been uneven<\/strong>, leaving significant segments of the population with limited benefits<\/strong>. Lower sections have not experienced substantial improvements<\/strong>, especially after the Covid pandemic.<\/p>\n

Several indicators show signs of distress. Real wages<\/strong> in rural areas have remained nearly stagnant, and more households are resorting to work opportunities provided by the MGNREGA compared to pre-pandemic levels.<\/p>\n

FMCG companies have not witnessed significant volume growth in consumer staples. Two-wheeler sales remain below pre-Covid levels, and non-suburban railway traffic<\/strong> has declined.<\/p>\n

Way forward-<\/strong><\/h2>\n

Complacency<\/strong> is not an option. While some countries have experienced periods of growth, only a small subset has achieved sustained high growth rates <\/strong>over several decades.<\/p>\n

According to a recent study conducted by economists at the RBI, the Indian economy must maintain a growth rate of 7.6 per cent<\/strong> over the next twenty-five years to attain high-income status by 2047.<\/p>\n

The policy framework must be designed with the aim of enhancing the country’s growth prospects over the medium to long term<\/strong>. This calls for focused and urgent action<\/strong> to ensure progress in the desired direction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cExpress View on India\u2019s economy: Sweet and sour\u201d published in the \u201cThe Indian Express\u201d on 1st August 2023. Syllabus: GS3- Indian economy and growth Relevance: Growth prospects of Indian economy News- The article explains the present economic scenario Which indicators show a favourable economic situation? The IMF… Continue reading Express View on India\u2019s economy: Sweet and sour<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,8184],"class_list":["post-254320","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-indian-economy","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/254320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=254320"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/254320\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=254320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=254320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=254320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}