Essay: Indian Economy and Economic Reforms. Article Shared by Anushree A. ADVERTISEMENTS: Economic reforms were introduced by the Government of India in July The reform process has completed 17 years. It would, therefore, be both interesting and instructive to make an overall assessment of the reform process so as to ascertain whether the country is moving in the right · And IMF projected a GDP growth of per cent for India in because the global economy is affected by the COVID pandemic, the worst recession since the Great Depression in the s. Also, we · Essay on Indian Economic Growth – Essay 4 ( words) Introduction. Indian economy is growing at a steady speed. The increasing number of various manufacturing industries the growth in export of manufactured goods and the privatization of banking and telecom sector have made a positive impact on the Indian blogger.comted Reading Time: 9 mins
Impact of Covid on Indian economy
The impact of coronavirus pandemic on India has been largely disruptive in terms of economic activity as well as a loss of human lives. Almost all the sectors have been adversely affected as domestic demand and exports sharply plummeted with some notable exceptions where high growth was observed.
An attempt is made to analyze the impact and possible solutions for some indian economy essay sectors. Several state governments have already allowed free movement of fruits, vegetables, milk etc. Online food grocery platforms are heavily impacted due to unclear restrictions on movements and stoppage of logistics vehicles.
RBI and Finance Minister announced measures will help the industry and the employees in the short term, indian economy essay. Indian economy essay the rural food production areas in the coming weeks will hold a great answer to the macro impact of COVID on Indian food sector as well as larger economy. The Tourism sector served approximately 43 million people in FY Aviation and Tourism were the first industries that were hit significantly by the pandemic, indian economy essay.
These two industries have been dealing with severe cash flow issues since the start of the pandemic and are staring at a potential 38 million lay-offs, which translates to 70 per cent of the total workforce. The impact is going to fall on both, White and Blue collar jobs.
According to IATO estimates, these industries may incur losses of about 85 billion Rupees due to travel restrictions. The Pandemic has also brought about a wave of innovation in the fields of contactless boarding and travel technologies. TELECOM There has been a significant amount of changes in the telecom sector of India even before the COVID 19 due to brief price wars between the service providers. With over 1 billion connections as ofthe telecom sector contributes about 6.
Increased broadband usage had a direct impact and resulted in pressure on the network. As a policy recommendation, the government can aid the sector by relaxing the regulatory compliances and provide moratorium for spectrum dues, which can be used for network expansions by the companies. to the US, UK, Canada, and the Middle-East.
There has been a recent rise in the prices of raw materials imported from China due to the pandemic. Generic drugs are the most impacted due to heavy reliance on imports, disrupted supply-chain, and labour unavailability in the industry, caused by social distancing.
Simultaneously, the pharmaceutical industry is struggling because of the government-imposed bans on the export of critical drugs, equipment, and PPE kits to ensure sufficient quantities for the country. The increasing demand for these indian economy essay, coupled with hindered accessibility is making things harder. Easing the financial stress on the pharmaceutical companies, tax-relaxations, and addressing the labour force shortage could be the differentiating factors in such a desperate time.
Though the crude prices dipped in this period, the government increased the excise and special excise duty to make up for the revenue loss, additionally, road cess was raised too. As a policy recommendation, indian economy essay, the government may think of passing on the benefits of decreased crude prices to end consumers at retail outlets to stimulate demand. BEYOND COVID THE NEW NORMAL In view of the scale of disruption caused by the pandemic, it is evident that the current downturn is fundamentally different from recessions.
Shruti Saravia. Suravi Ghosh. Suhani Gupta. Sai Prabhas Mallidi. Puneet Hooda. Sayali Deshpande. Thank you for completing the registration process successfully. You are now a part indian economy essay The Times of India Readers' Blog platform. You can now write on any topic of your interest and reach out to millions of TOI readers, as long as your article meets our blog publishing guidelines.
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Essay on Impact of coronavirus on indian economy in english - Impact of coronavirus on economy essay
, time: 11:30Essay on Indian Economy for Students in English | Words Essay
· 10 Lines on Indian Economy Essay in English Indian economy is made up of the service sector, agriculture sector and manufacturing sector distributed across the The service sector contributes more than 60% to the Indian GDP. The agriculture sector in Estimated Reading Time: 7 mins Free Indian Economy Essays and Papers. Page 1 of 50 - About essays. Powerful Essays. Globalization And The Impact Of Globalisation On The Indian Economy. Words ; 4 Pages; Globalization And The Impact Of Globalisation On The Indian Economy. globalisation means integration of economies and societies through cross country flows of information, ideas, technologies, goods, · And IMF projected a GDP growth of per cent for India in because the global economy is affected by the COVID pandemic, the worst recession since the Great Depression in the s. Also, we
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