Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
4) Discuss the current economic slowdown being witnessed by the country. What are the underlying causes and what measures are needed to be taken to bounce back on the right growth trajectory? Explain.(250 words)
Why this question:
The article reflects and highlights the current conditions of fall in GDP numbers of the country and brings out in detail the causes and consequences.
Key demand of the question:
Explain the causes of the slowdown of the economy and discuss what measures are to be taken to overcome the issue.
Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.
Explain – Clarify the topic by giving a detailed account as to how and why it occurred, or what is the particular context. You must be defining key terms where ever appropriate, and substantiate with relevant associated facts.
Structure of the answer:
In brief discuss the current scenario of the economy.
The latest GDP growth of 5 % is the lowest in six years with the previous low recorded at 4.3 % in March 2013. It is also lower than 5.8 % GDP growth in the March quarter in 2018-19. This is the second straight quarter when the quarterly GDP growth was lower than 6 %.The growth has slowed down in five out of eight sectors, reflecting the widespread weakness in the overall economy.
Explain then the factors responsible for the slowdown – domestic and global.
Discuss what measures must be taken to resolve in short term as well as long term.
Conclude with way forward.