Total disintegration of the governmental edifice in Sri Lanka and its near disintegration in Pakistan, prompted by economic reasons, has emboldened doomsayers in making dire predictions for India, forgetting that the Indian economy is far more robust and resilient than the economies of neighbouring countries and there is no danger of our economy imploding in the foreseeable future. However, it is equally true that runaway inflation, rising unemployment, mounting current account deficit etc. have exacerbated the challenges facing our economy, and some deft management is required to keep the Indian economy on track. Poverty has risen to unacceptable levels; eighty-one crore persons, that is around 60 per cent of our population are surviving on subsidised rations provided by the Government and demand for employment under the Mahatma Gandhi Rural Employment Guarantee Scheme (MGNREGS) is surging. (Read More)
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