Topic : Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
5. Analyse the key challenges that lie in front of Indian economy also, explain how exports can prove to be a key to economic growth. (250 words)
Reference: Indian Express
Why the question:
Arvind Panagariya’s new book, India Unlimited: Reclaiming the Lost Glory, discuss systematically how to reconstructs a path to higher growth. Thus the question.
Key Demand of the question:
Analyse the key challenges that lie in front of Indian economy also, explain how exports can prove to be a key to economic growth.
Directive:
Analyze – When asked to analyse, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary.
Structure of the answer:
Introduction:
Briefly present the background of the question, account for some key facts that suggest the challenges before the Indian economy.
Body:
Discuss the effect of COVID-19 on the economic growth of the country. Public sectors confronting a mountain of debt, the fiscal will need to be reined in post-COVID across several emerging markets. COVID-19 will accentuate the prevailing export pessimism, as global potential growth is damaged and protectionist instincts are stoked.
Discuss the possible strategies before India. Present the role that exports can play and how they can affect the economy positively.
Take hints from the article and suggest solutions.
Conclusion:
Conclude with importance of exports to the Indian economy.
