Indian Economic Policy

The policy in India is made for the second populated country of the world. According to an article in India today, the Unemployment rate rose to 9.1 % in December 2020 apart from regular economic activities. Indian policy like Special Economic zones in India focuses more on the service sector whereas we need to focus on other sectors which comprise more population and needy mass of the country, if we talk about the ?agriculture sector which includes forestry and fishing. This sector is well known as the primary sector of the Indian economy. This sector had the biggest share in Gross Domestic product at the time of India independence, but its contribution goes on declining and?currently it is only contributing approx. 17 % of India GDP at current price.?The main focus point? to mention here is, the agriculture sector provides jobs to more than 50% of the Indian population. There is a current need to understand the ground reality of implementation and policy making.?

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The main Flaws which I observe as a problem in Developing Indian economy are:

1. Gap between policy making and its implementation: If we see the Indian policy of 1977 then it focuses on Decentralisation, prioritising small scale industries, Restriction of multinational companies but in reality, we are still witnessing the lack of low scale industries and involvement of common people in it. In Jharkhand state there is an asset of resource which is still unused due to lack of policy implementation. The major reason is the absence of proper infrastructure and material resources. We need to see the policy from an insight of a person who is living below the poverty line.

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1. Lack of skills: Unemployment rate of youth in India has increased to 23.7 percent in the fourth quarter of 2018 from 23.10 percent in the third quarter of 2018 ( Ministry of statistics and program implementation). Indian youth are job seekers and because of the lack of effective skill people are lacking to merge our economy with the global market.

1. Dependency on other nations: Indian economy and its government focuses more on foreign exchange and market which somehow lowers the chances of exploring self -dependency of national resources and youth.

The three solution which I would like to propose:?

1. Bottom- up approach: There is a need to empathize with the bottom level people and their problems before making a policy. We can engage the educated youth of our nation in understanding and merging the gap between ground reality and the needs of the people.
2. Start- ups:? The start- ups include innovation and entrepreneurship which will open new windows for employment. Village based start -ups will also boost the use of local resources to a larger level.
3. Promoting Food Parks and Rural market: It will involve human resources to the fullest and encourage the youth to contribute to the agriculture sector and also boost the health sector to promote healthy practices and this can be one of the healthiest and core ways to promote the Indian economy.