Indian Economy since 1990

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It’s officially the world’s fastest growing economy. The Indian economy is expected to change a lot in the developing country. Since the beginning of the economic reform in India in the early 1990 s, the country has gone through a lot of drastic changes. There have been lots of job creation within the country after the economic reforms. Young individuals are getting job opportunities like never before. New industries like info technology and business process outsourcing have also offered more jobs for educated youth. Nowadays anyone with useful knowledge of computer and English language can find a job in India.

The auto industry has seen record growth in latest times. In future years India is likely to go through some more drastic changes economics-wise. The growth of the economy at double-digit rate will make the country a developed nation in a few decades. Several problems within the country could make the whole progress go for a vein. The fast-growing population of the country ensures that most of the work done for enhancing the living standard of the ordinary individuals are going to the naught. The nation has restricted resources, and it could sustain only a limited number of individuals living within the country.

The basic need to support the additional population is urgent, which is bound to take more resources. The government of India is yet to come up along with a few policies to curb the growing population. Another threat to the Indian financial growth story is terrorism. The risk of terror can derail the whole positive feelings generated by business growth. As economic activities occur especially in an environment of security, any act of terrorism in any significant commercial hub can be a substantial burden to foreign investment within the country, affecting the overall financial growth of the country. Bomb blasts in Mumbai harmed the economic scenario of the city.

As some politicians can always play politics to collect votes in elections, they might divide people and cause communal riots. As seen in the case of Gujarat, some politicians are likely to exploit religious sentiments when pushed to the brink. Any major incident of religious riot can derail the economic activities of a specific region. Following the communal violence in Gujarat, many industries of the state, especially of Ahmadabad, were affected. Any other internal threat may also put a spanner in the financial growth story any time. As social unrest within the country is existing, it may be a bad omen for the overall economy. The rich, poor divide is also evil for the financial growth of the country. Keeping abreast with business news is useful for keeping tabs on events in the economy.

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