Are you Ready for Insta 75 Days Revision Plan (UPSC Prelims - 2020)?
Topic-Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
5) What do you think India needs to do to become a 5 trillion dollar economy. Discuss.(250 words)
Why this question
In this article, Raghuram Rajan provides insights into the conditions in India and provides suggestions as to what needs to be done by India to double the size of its economy.
Discuss- this is an all-encompassing directive which mandates us to write in detail about the key demand of the question. we also have to discuss about the related and important aspects of the question in order to bring out a complete picture of the issue in hand.
Key demand of the question.
The question wants us to write in detail about the steps needed to be taken/ reforms needed to be made etc in order to make India a 5 trillion dollar economy.
Structure of the answer
Introduction– write a few introductory lines about the size of Indian economy and the present trends of growth.
Discuss in points, what needs to be done to make India a 5 trillion dollar economy. E.g Need for strong institutions and regulators especially in the fields of environment and finance; need for environmentally sustainable growth; need to improve the Child nutrition and learning outcomes; Need for creating employment opportunities for the vast youth of India etc.
Conclusion- based on your discussion, form a fair and a balanced conclusion on the given issue.