Understanding India’s Economic Slow Down - Challenges for reaching $ 5 Trillion Economy by 2024 – 2025
Author(s):
Dr Polishetty Kesari
Keywords:
Growth Rate, Gross Domestic Product, Exports, Unemployment rate, Infrastructure.
Abstract
The world has experienced the biggest shock since world war II, With two severe pandemics, the journey to economic growth for every nation around the globe has become rough with two core pillars of an economy (Growth & Health) are at risk and requires a firm control over brake and accelerator which determines the development path both globally and domestically. In India, though the prominent sectors and their collective growth and contribution to Gross Domestic Product have exhibited dynamic patterns in the past. After 2009 more specifically from 2011 to 2019 GDP growth contraction followed by Covid – 19 pandemic made the situation worst resulting in a slump like situation. Now India needs to grow at a faster rate to make up for the loss of output, employment, increase in exports are some of the pertinent challenges that need to address to stimulate the economy. For tackling these issues India has to come forward with massive scale economies huge public investment to combat and to boost up the demand for consumer and investment goods to have a robust macroeconomic policy from all directions to meet aspirational USD 5 Trillion economies. The scope of this paper tries to make a holistic effort to identify the factors needed to promote and increase the GDP by 2024.
Article Details
Unique Paper ID: 153968

Publication Volume & Issue: Volume 8, Issue 8

Page(s): 265 - 269
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