What steps can be taken to improve the Indian economy
Many steps can be taken to improve the Indian economy because world economy changing very fast rate and many small size countries economy growth rate higher in comparison to India economy size.
To improve Indian economy it becomes important to full fill some conditions to achieve higher growth rate. Steps taken by Indian government to improve Indian economy in form of achieving higher growth namely increase consumption demand, boost investment inside country economy, private sector constrained, combined effort of both central government and state government to boost up the investment inside country economy.
Indian economy should make proper decision to choose between globalization, liberalisation and privatisation.
Steps can be taken to improve Indian economy by ensuring responsibility of making correct decision to boost up the economy jointly with all four major pillars of society named as bureaucracy, businessmen, intellectual and political parties.
Definitely role of state very important in context of market driven development paradigm. Steps can be taken to improve Indian economy like state should strengthened three components of market namely legal system, monitoring function and regulatory to made efficient working of market and this will helpful to boost up the Indian economy.
Foreign direct investment (FDI) should be encouraged to come in larger number from foreign countries.
Steps can be taken to improve Indian economy in case of FDI should be used in proper sectors inside Indian economy where it higher revenue in form of buisness growth, generate lots of new job opportunities.
Here are some steps can be taken to improve Indian economy by government of India like create more jobs opportunities for young generation of country.
Another steps can be taken to improve Indian economy is to increase consumer purchasing power. When population get job easily then consumer behavior tells that consumers purchasing power increased automatically because more employed population get more money monthly basis inside their pockets. Money inside consumer pocket helped consumer to spend more on their demand full fill.
Modern world economy based on impact of Indian IT companies working and skilled labour requirement increased high. Government of India can taken steps to improve Indian economy in way of providing skills full education from school level to university level.
Indian government can become world leader by solving various strategic world issue and influence many favourite country to start working together.
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| What steps can be taken to improve Indian economy |
How we can improve the economy
We can improve the economy of India by taking steps of supporting local buisness, always follow and listen advice of local or national leaders.
Substituting with made in India swadeshi products and eliminating import of foreign products will helped our Indian economy boost up by swadeshi products.
Local businesses are back bone of Indian economy and local businesses hit hardest by recession. India hold second position in population and consist of huge market scope.
Indian economy consists of world largest consumer population, being local citizens of India we can start support to local buisness in form of buying local businesses goods and services.
65-68 percentage Indian population are get employed in agriculture and agriculture related activities. We can improve the economy of India by doubling farmers income.
Some key steps to be taken to improve the Indian economy are as follows
1.Eliminate or decrease depending on foreign goods and services.
2.Start buying goods and services produced by local businesses.
3.Start branding of swadeshi products importance with family members, relatives and friends.
4. Start investing our hard earned money inside Indian economy for longer time through buying companies shares, investment through ETF(exchange traded funds) and through mutual funds.
5. Double income of farmers population.
Steps taken by government to improve Indian economy
There are many steps taken by government to improve Indian economy after carona virus namely increasing investment awareness between population of the country and started shifted towards cashless economy.
After reading financial data collected from primary and secondary data sources we found that after carona virus hard strike on Indian economy various types of steps taken by government to improve Indian by providing direct injection in form of financial support like investment, loans and grants.
Another steps taken by government to boost up the economy is that influencing FDI (foreign Direct Investment) inflow inside Indian economy.
FDI bring more cashflow inside economy and made buisness friendly environment to local companies to running efficiently buisness.
Efficient buisness working of buisness increase increased earning of swadeshi manufacturers companies and jobs opportunities provided to young youth of India and this boost up the economy.
Central government provided extra money to banking system of India to increase level of investment with help of banks. More money in banking system will help banking system to provide loans to borrower and later borrower spend loan money in full filling their demand which increases cashflow inside economy of country.
What are the 4 factors of economic growth
We can improve Indian economy after studied factors of economic growth. Steps can be taken to improve Indian economy only possible when we complete knowledge of the 4 factors of economic growth.
The 4 factors of economic growth are namely land, labour, capital and entrepreneurship. To boost up the Indian economy steps can be taken to make these 4 factors of economic growth in favour of Indian economy.
As economist knew that to boost up the Indian economy only possible when steps taken to improve quality and quantity of production. Improving quality and quantity of production inside country economy respected in economic growth.