The Economy of India

Paper Summary:

This paper explains that India has a consistent increase in its GDP, the economy is steadily growing, foreign investors have shown confidence in India's economic infrastructure and indigenous products are found in abundance. The author points out that, on the other hand, unemployment is rampant, corruption in political and economic circles is inexorable and poverty is a pervasive issue. The paper concludes that, despite all its problems, independent India is a much better place than occupied India was under British rulers, who were neither more intelligent nor savvier when it came to social and economic matters and did not care about the local people.

From the Paper:

"The government is inefficient and incapable of dealing with rising poverty and unemployment. This is mainly grounded in government's denial of actual economic and social conditions of the country. It appears that either the government officials are completely unaware of the situation in the country or they are hell-bent on ignoring the truth that's staring them in the face. This is clear from following statement of former Prime Minister Rao when he began one of his speeches by "delineating the social structures into three segments.""

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