India's Economic Challenges: Risk of Aging Before Prosperity

Politics Politics of India

Posted by NewAdmin on 2025-01-29 09:04:51 |

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India is grappling with significant economic challenges, notably high unemployment rates, despite Prime Minister Narendra Modi's ambitious promises of economic transformation. Even highly qualified young individuals are struggling to secure employment, leading to widespread frustration. The country's Gross Domestic Product (GDP) growth rate has decelerated to 5.4%, a figure deemed insufficient to alleviate poverty and propel the economy forward. Economists argue that India requires an 8% growth rate to achieve developed nation status by 2047. The current economic slowdown, coupled with a declining rupee and stock market volatility, casts doubt on Modi's vision of making India self-reliant and surpassing China in manufacturing. The situation is further exacerbated by a stalled emerging middle class, declining fertility rates, and an aging population. Without substantial investment and job creation, India's potential "demographic dividend" from its youthful population may be squandered. Although the nation has witnessed notable economic growth under Modi's leadership, it continues to struggle with income disparities and stagnant wages, raising concerns about its future development trajectory. 

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