Topic: Indian economy : Issues
4) A comprehensive report by 13 economists was released earlier this month which talks about an economic strategy for India and reforms in key areas. Examine. (250 words)
Why this question
A group of 13 economists have penned down a comprehensive report on the state of Indian economy and specific reforms required in certain sectors of the economy. The report provides a good insight into the reforms required in Indian economy to take it to a growth pace that will be in sync with the needs of society. Hence this question would help you in preparing filler material on topics of growth etc.
Key demand of the question
The question expects us to bring out the status of Indian economy as described by the report, the difficulties faced by certain sectors of the economy and the steps required to accelerate growth in the country by reforms in the sectors discussed in the report.
Examine – When you are asked to examine, you have to probe deeper into the topic, get into details, and find out the causes or implications if any .
Structure of the answer
Introduction – Highlight the nature of report released by these economists and describe its content.
- Highlight the status of Indian economy as described in the report – India’s economy has performed well in absolute and relative terms, for the last quarter century. But then it opines that India can and must do better which forms the basis for suggestions for various sectors of the economy.
- Highlight the suggestions that the report has to make for macroeconomic stability, reforms in the banking sector, worsening of public finances at the state level, performance of stressed sectors such as agriculture etc
- Discuss the steps required for better performance of these sectors as suggested by the report and any shortcomings in the recommendations.
Conclusion – Give your view on the status of Indian economy and comment that the report is a timely reminder of what needs to be done.