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Essay in very simple language with the boundaries of different words here. Here you can find Essays on Indian Economy in English language for 5, 6, 7, 8, 9, 10, 11, 12 or IAS, IPS Banking and other competitive exams.
1 - Essay on Indian Economy - 200 Words
ndia is primarily an agricultural economy. About 50% of India's workforce is involved in agricultural activities, which contributes to its economy. Agriculture is not only meant to grow and sell crops, but other similar activities also include poultry, fisheries, animal husbandry and animal husbandry. People in India earn their livelihood by joining many of these activities. These activities are important to our economy.
Industrial sector comes forward. Since the Industrial Revolution many industries have emerged in our country. In the past few decades, there has been a particularly sharp increase in the industrial sector. We have large scale industries like iron and steel industry, chemical industry, sugar industry, cement industry and shipbuilding industries which contribute a lot to the country's economy. We also have small industries such as cloth 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 a service sector that is another contributor to the Indian economy. This area includes banking sector, hotel industry, telecommunications sector, insurance area, transport sector and more. Professionals like engineers, doctors and teachers also come in this area.
All three are skilled laborers / professionals who are working hard to build the country's economy.
2 - Essay on Present Situation of Indian Economy - 300 Words
The Indian economy has seen a major increase in the past few decades. The credit of this surge goes to the service sector to a great extent. Agriculture and related activities have also been improved to match global standards and there has been an increase in the export of various food products, which encouraged economic development. The industrial sector is not a little behind. In recent times, small scale industries have been established along with many new scale and have also proved to be a positive impact on the Indian economy.
Economic development of India in recent times
During the previous year, India was suffering from inflation because of the increase in food prices. However, it is recovering from the loss and the economic situation is likely to improve this year.
Central Statistical Organization (CSO) has recognized India as the fastest growing economy. It has been speculated that if we continue to grow at this rate, then we will probably become one of the world's top three economic powers in the next one or two years.
Factors of economic development
Here are some factors responsible for India's economic growth:
- There has been an increase in FDI for many sectors, including automobile, construction and computer software.
- Employment opportunities in many areas including IT and transportation have increased.
- The number of start ups in India is increasing and thus more business and employment opportunities are being created.
- The industrial area of ​​the country is flourishing. Trade and exports of India are growing at a good rate.
Conclusion
We have a pool of talented and creative youth who are hard-working and ambitious. Our government is also taking the initiative to improve the economic condition of the country by bringing new opportunities for employment and business. No wonder our economy is growing at a good pace.
3 - Essay on Indian Economy since Independence - 400 Words
The British ruled our country for almost 200 years. They looted our country and left it in a poor financial position. However, our skilled political leaders, who played a major role in the country's independence, took over the responsibility of the situation and worked collectively for their socio-economic progress. The country's government assessed the problem areas and came up with policies to increase its economy.
Role of Government in Economic Development
Most of the working Indian population was still engaged in agriculture. Growing crops, fishing, poultry and animal husbandry were among their works. Many people were also engaged in cottage industries. They built handicraft items which were losing their charm with the introduction of industrial goods. The demand for these items started diminishing. Agricultural activities also did not pay enough.
Government identified these problems as a hindrance in the economic growth of the country and established policies to prevent them. Providing proper wages to the laborers and providing adequate livelihood of the people to the cottage industry, there were certain policies set by the government for economic growth of the country.
Rise of industrial area
Government of India also promoted the development of small and large scale industry as it was understood that agriculture alone will not be able to help in the economic development of the country. Since independence many industries have been established. A large number of people have shifted from agriculture to industrial areas in an effort to earn better earnings.
Today, we have several industries which produce large quantities of raw materials as well as finished goods. Pharmaceutical industry, iron and steel industry, chemical industry, textile industry, automotive industry, wood industry, jute and paper industry are some of the industries which have contributed a lot to our economic growth.
Development in service sector
The service sector has also helped in the development of our country. This area has seen an increase in the last few decades. Personalization of banking and telecommunication sectors has a positive effect on the services sector. There is also gradual increase in tourism and hotel industries. According to a recent survey, the service sector is contributing more than 50% of the country's economy.
Conclusion
The Indian economy has seen many positive changes since independence. It is growing at a good speed. However, the rural areas of our country are still evolving. The government should make efforts to improve the economic condition of these areas.
4 - Essay on Indian Economic Growth - 500 Words
The Indian economy is growing at a steady pace. Increasing the export of manufactured goods in the growing number of different manufacturing industries and privatization of banking and telecom sector have had a positive impact on the Indian economy. India saw a very difficult period after Independence when the economic situation of the country had declined at a rapid pace. Talented youth along with the Government of India have also worked hard to increase it.
Indian economy declines
India was once known as the golden sparrow due to accumulation of wealth in the country. It is one of the main reasons to attract foreign invaders. After the colonization by the British, India had almost nothing left. Most of the Indian cottage industries were engaged. However, their manufactured products were no longer in demand because people started using industrial goods. This adversely affected the economic condition of these craftsmen and as a result the country's economy declined.
Government policies for India's economic growth
Handling the economic condition of the country was one of the main challenges for the newly formed Government of India. To ensure an upward graph, it came with the following policies:
- The means of livelihood for the citizens of the country is indoors.
- Equal pay for equal work without any gender bias.
- Improvements in public health and living standards
- Stop the concentration of money.
- Distribution of ownership of the community's physical resources
- Proper wages for workers so that they can afford a decent living standard.
- Promotion of cottage industry by the state.
Economic development of India
The efforts of the Indian government and the hard work of the general public paid. India has become one of the fastest growing and developing countries. Our country has made good progress in various industries during the last few decades and this has led to economic development. Information technology, infrastructure, retail, financial services, automotive and healthcare are among the areas which have recently seen a big jump. They are growing at a steady pace and are making major contributions to the economic growth of the country.
Our country's average GDP is around 7 percent. Speaking of GDP, India is at seventh place in the world. However, India has achieved this stature, but this picture is not exactly the same. The main problem of our country is the uneven distribution of wealth. While a good part of our population is earning well and contributing to the economic growth of the country, many people are still not able to fulfill their ends. There are still many people in our country living below the poverty line. The economic growth of our country is not good if such extreme poverty still persists.
Conclusion
Our country's government has taken several initiatives to ensure economic development and development since independence. Many of these initiatives have proved fruitful and contributed to the country's economy. The intense mentality of Indian youth and many initiatives taken by the Indian government have contributed collectively to economic development. However, we still have a long way to go.
5 - Long Essay on Indian Economy after Demonetization - 600 Words
The news of monopolization was a big shock for every Indian. In November 2016, Prime Minister Narendra Modi announced the scrapping of high-value currency notes in an effort to reduce the accumulation of black money. The purpose of the decision was also to promote the use of plastic money. However, it called for much inconvenience and dissatisfaction among the general public.
Indian Economy After Demonization
In the most affected rural areas, there were people who did not have internet and plastic money. Many large and small businesses in the country were badly affected. Many of them were discontinued as a result.
While the short-term effects of monetarization were devastating, this decision was a long-term side when it was seen from long-term potential. A look at the positive and negative impact of monetization on the Indian economy:
Positive impact of monetization on Indian economy
Here are the ways in which monetization has positively affected the Indian economy:
Breakage of black money
Black money accumulation affects the country's economy negatively. Many businesses in India work on the power of black money. Remuneration helped to stop these businesses and to destroy the black money deposited by the people of India, which had a positive effect on its economy.
False currency notes fall
Many fake currency notes were going on in the country, which had a bad effect on its economy. Demonautization helped to remove counterfeit notes of high value.
Increase in bank deposits
The ban on old notes was banned with immediate effect. Those who had these currency notes had to deposit them in banks so that their money was not wasted. The amount of trillions of rupees was deposited in Indian banks and this led to an increase in the country's GDP.
Real estate
Real estate is an industry that runs on black money on a large scale. To ensure a good game, the flow of black money in the real estate sector was stopped by monetization.
Increase in digital transactions
The lack of cash in the market encouraged people to do digital transactions. Almost every shop / clinic / institute in the country has installed machines to accept payment by debit / credit card. Over time, people became more accustomed to using plastic money. This is a great way to track tax evasion and increase the company's economy.
Turning monetary assistance for terrorist activities
Supporting terrorist activities in the country by providing monetary assistance to anti-terrorist militant groups. This money is used to buy weapons and to plan terrorist activities in different parts of the country. Remuneration helped to cut the monetary support provided to terrorist groups to a large extent. Thus, it promoted peace and helped to enrich the country at different levels.
Negative impact of monetization on Indian economy
Most positive effects of monetization are called long-term. We can begin to see the economic growth of our country in recent years with positive changes brought about by monetization in a few years. However, the negative consequences of monetization on the Indian economy have been tremendous.
Many of our industries are cash-driven and sudden monetarization has left all these industries hungry. Large scale manufacturing industries suffered huge losses, along with many of our small scale, which affected the country's economy negatively. Many factories and shops had to close. This affected not only the businesses but also the workers employed there. Many people, especially the laborers, lost their jobs.
In the agricultural sector, the industrial sector as well as the service sector is also badly affected by monetization.
Conclusion
Thus, the monopolization had both positive and negative effects on the country's economy. The implementation of this policy has been largely defective. If it had been implemented better, then it would have less inconvenience to the general public and economic growth would be more.
Tags : Indian Economy Essay, Essay on Present Situation of Indian Economy, Essay on Indian Economy since Independence, , Essay on Indian Economic Growth, Long Essay on Indian Economy after Demonetization
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