Our very survival depends on our ability to stay awake, to adjust to new ideas, to remain vigilant and to face the challenge of change. –Martin Luther King Jr.
A great challenge is laid ahead in front of the government regarding economic growth and development of the country. With the continuous growth in dissimilarity among the natives of India, it is becoming very difficult for the government to cope up with these challenges.
India’s current aim is to increase its economic growth along with the overall development and urbanization, infrastructural augmentation and improvisation of the government to build a supportive base for inclusive economic growth.
Overall inflation rate is burdened by the pressure of expensiveness in daily need products and commodities. Rates of products are growing day by day at a very fast rate. Factors like depreciating rupee value is adding a growth in expensiveness and thus on the inflation rate of the country.
Rupee has been deprecating its value continuously against USD since 1st of May, 2013, and on June 20, 2013, it closed at Rs 59.57 per dollar. Depreciating value of rupee is therefore increasing prices of the commodities and especially of the imported items. Prices being increased are creating a pressure over the common public who are not able to afford even their basic needs because of their expensive rates.
In association with the depreciating rupee value, increasing inflation rate and expensive commodities, the rise in corruption is also becoming a major factor creating an obstacle in the growth of India’s economic structure. Corruption is spreading itself more rapidly than the water and its branches are spread all over the country, with its roots too strong to be pulled out from the base. Every department is full of corruption, leading from the politics to medical to all present fields of work. A peon might have an income more than a MBA saves after five years of his job owing to the corruption. Almost all the politicians and rich business tycoons of India own an account in Swiss bank where they have stored all the black money which they earned from corruption.
Today, only the youth have the strength of making India a corruption free country for its betterment and growth in its economy.