[Aakash Adakane]

Today, the economy of India is 11th largest economy in the world by Nominal GDP and 4th largest by purchasing power parity.India has a strong economic reforms from the socialist inspired economy of a post independence indian nation.the country began to develop a fast paced economic growth,as free market principles were initiated in 1990 for international competition and foreign investment.To be a superpower in 2020,India has improve on certain areas like

1) Infrastructure i.e. Roads,Electricity,Airports

2) Education

3) Social Issues: Poverty,Corruption,Population

 

In brief part :

Infrastructure–>

Roads  : We have a big challenge for connectivity with good,wider quality of roads to rural as well as metro locations.A good road network can generate many commercial and social benefits for rural economies through increasing access to goods as well as services such as health and education.

Electricity : India is 6th largest energy consumer,accounting for 3.4% of global energy consumption.Hence demand and consumption for electricity is on high side.Most of the time there is loss of electricity during low transmission and distribution.Due to this we are lagging behind in power sector.Power cut is common in India mostly in rural area which is adversely effected India’s economic growth.

Airport – India’s aviation industry is in very bad shape.Hardly any company making any profit.All companies are fighting for their survival in market.It has to improve as it is the way for international transport og goods and services.

Education Sector –>

India is fighting for its more literacy rate.Despite of growing investment in education,still 35% of population are illiterate.Shortage of well developed institution,faculty had raised questions on quality of education.Dropping rate from school are increasing,specially the cultural attitude stop girls from attending school.As per data women have much lower literacy rate then men.To become superpower we have to improve our quality of education and need to reach of education to whole country.

 

Social Issues –>

Poverty : 1/3 rd of population lives below the poverty line in India.Middle class has gained more from recent positive economic development but then also as a whole india suffers from substantial poverty.The distribution of wealth is uneven,the rich are becoming richer and the poorer are becoming more poorer.We have to find ways to increase our per capita income as it is going down day by day.

Corruption :India is ranking 72 out of 17 countries in Transparency International’s corruption perception Index.Bribes,evasion of taxes,fraud,scams,rackets,exchange controls are responsible for this.Political corruption,Criminalization of Indian politics in India is major concern.

Population : As all know India is not much behind from China to overtake in Populaltion.Though we have edge on demographic dividend as in next few years we may have worlds highest working age population.It may affect us in opposite way.

Unemployment : Agriculture accounted about 50-60 % total workforce in India.But now we are facing stagnation in this sector due to climatic change,global warming.Most of the people are turning from this sector to the sevice sector which is growing rapidly.India’s labour force is growing annually but the employment rate is growing down as compared to labour force.

 

If we work on these above issue,i hope we will soon become Superpower in 2020. :good:

Happy to hear your thought on my views. :bye:

 

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