Economy Growth Model at Present Scenario

Abstract

Our economy is passing through inflationary situation with recession in demand and industrial outputs. The main reasons are low disposable income, unfavorable balance of trade and balance of payments, increase in crude prices, natural calamities. The concept of traditional economics to rectify by overspending by government, deficit budgeting will not resolve the situation as we are connected by trade and finance with world over and their sickness spread like virus. We have to come up by using our inbuilt strengths. To start with, it is necessary to develop the patriotism and nationalism phenomena in every citizen over and above their cast, religion or traces. Such feeling will increase willingness to work and fight with every crisis of economy by forgetting self interest. This can be achieved with regular broadcasting of patriotic songs on every media. The reservations based on cast certificates be removed and care and support to be provided to every weaker section till education level and let the creamy layer have the opportunities to add more to economic development. Farm sector be planned with centralized support, proper planning of crops, canalization of water resources to save from floods on one side and same be used for generation of power, transportation and irrigation. The tourism be developed as India is rich in its heritage and culture and having simultaneously different weathers at different part of the country at the same time. The same can be improved by providing personalized services through P&T department and Banking sector having wide set ups right in every place. India be made educational hubs in the field of software and communications. The Tax reforms to tax the black money and channelizing of resources will increase per capita income and will by multiplier the growth of industry will meet the desired goal.