In the run up to the forthcoming elections in India, it is very important that there be a consensus among all leading political leaders on how the country can move forward and handle its macro-economic challenges. Unfortunately, in spite of a series of reforms implemented in the last few years, the Indian economy is still struggling with sluggish growth and a series of major macro economic challenges. However, while the Indian economy is facing major macro economic challenges, it has made major strides forward in terms of fiscal discipline and also is making progress in terms of the overall economic stability.
Amongst the major macro economic issues that the Indian economy is facing is a major slowdown in the trade deficit, which has resulted in the weakening of the rupee. Although India is well aware that this is going to occur as the trade deficit will have to be tackled, it still has some time to bring the trade deficit under control. If it fails to do so, the weaker exchange rate will not only affect the exchange rate of the Indian rupee but will also have a negative effect on the country's exports and imports. This is a major concern for the Indian economy and the Indian government needs to find a way through which the currency can regain competitiveness in a reasonable period of time.
While the Indian government is trying to find ways through which the economy can recover from the global recession, it is also important that they ensure that the overall macro economic challenges are being dealt with and the Indian economy is not left out in the process. Therefore, India needs to be realistic about the current condition of the economy and find ways through which it can overcome the challenges by implementing structural reforms and by ensuring that the Indian economy gets back on track as quickly as possible.
One of the most important aspects of the Indian economy is the fiscal policy, and this is because if a country does not have a sound fiscal policy then there will be a lack of financial discipline and this could result in major macro economic challenges as well as other types of problems. The Indian government has made many reforms in the past few years but it is important that the reforms should not be allowed to weaken the fiscal position of the country as this could lead to severe macroeconomic problems in the future.
Another part of the macro-economic issues that the country is facing is that of unemployment. This is because during the global recession, the job market in India has been badly hit and millions of people are losing their jobs every day. However, as the economy begins to recover, there will be a great number of job opportunities available for people who lose their jobs and have lost them in the recent economic downturn and they will then have to go out and get a new job.
At the end of the day, one has to ask the question that if the Indian government is really concerned about the macro-economic issues that it faces? If the answer is yes, then it is time for it to implement some serious structural reforms that will help the country to get out of the macro-economic issues. However, if the answer is no, then it may be a good idea to wait until the next time when there is a major crisis and the macro-economic issues are in the news and people start to talk about it. The time to initiate the reforms is now, before the situation gets worse and before more people lose their jobs.
One of the best things in life is seeing a smile on your parents' faces, and realizing that you are the reason. Just because someone else is not nice to us, doesn't mean we have to reciprocate in the same way. For every human in this world, God has given something noble and good in his heart. Always take care of your heart.
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