India Needs More Than A $2.5-trillion economy

ECONOMY / We need an economy that empowers people and allows them to lead a life of welfare and human dignity.

We need an economy that empowers people and allows them to lead a life of welfare and human dignity.

The New Leam Staff

The average living standards in our country including the per capita GDP and Human Development Index need to be worked upon in order to make the country a truly empowering domain for individuals living in the nation. The economy of the country may have grown significantly since independence but we continue to face many issues that create hindrances to our growth. A great challenge that we are facing is regarding the population of the country.


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Photo : Vikash Sharma /the new leam
India Needs More Than A $2.5-trillion economy/ Photo : Vikash Sharma /the new leam

The great population has meant that India is not empowered in the context of per capita GDP. The nation also lacks behinds in terms of the Human Development Index (it comprises of years given to schooling and factors like life expectancy) and is behind many smaller countries. This means that the plight of persons in the county needs to be empowered so that living in the country can be a meaningful platform.

Moreover in a democracy it is often difficult to give priority to long term issues compared to immediate issues. Opposed political interests, flux in democratic trends and competition in ideological regimes have often not paid attention to issue of people’s interests and national progress. Great population, vibrant yet altering democratic traditions and a lack of policy implementation have meant that India lacks behind in terms of GDP and Human Development index. The average living standards of people need to be improved so that India can become a truly empowered nation.

 

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