Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
3. Elaborate upon the factors affecting the GDP growth post the economy’s recovery from the disruption caused by the COVID-19 pandemic. Enumerate measures to withstand the current global headwinds and predicted headwinds in the upcoming year and have a sustained rate of growth. (250 words)
Difficulty level: Tough
Reference: The Hindu , Insights on India
Why the question:
The latest official GDP estimates show the economy’s expansion decelerated in the July-September period, dragged down by year-on-year and sequential contractions in manufacturing and mining and a broad slowdown in private consumption expenditure and government spending. Gross domestic product is projected to have grown by 6.3% from the year-earlier period, a sharp deceleration from the 13.5% expansion posted in the first quarter and July-September 2021’s 8.4% pace.
Key Demand of the question:
To write about the factors affecting GDP growth post covid-19 and measures needed to tackle
Directive word:
Elaborate – Give a detailed account as to how and why it occurred, or what is the context. You must be defining key terms wherever appropriate and substantiate with relevant associated facts.
Structure of the answer:
Introduction:
Begin by defining GDP.
Body:
First, write about the various factors that drove the GDP growth and the economic recovery in the post-Covid period.
Next, give context about the potential global factors that may adversely affect India’s GDP – Ukraine crisis, Climate change, Predicted recession etc.
Next, suggest step that are needed to be taken in order to overcome the above.
Conclusion:
Conclude by writing a way forward.
