Economic Reform of India

India is a developing country. The economy is down due to poverty and unemployment. Economic reforms are the changes in a country’s economic policies that are crucial for reviving an inactive economy and accelerating the pace of development. Various changes were attempted for the country’s economic development. The Government adopted the modern way of developing the economy. The process of economic reforms was essentially crisis-driven and was adopted in order to mitigate the economic bankruptcy of the 1980s. The economy reforms with the outstanding performance of the software industry, changes in the skilled labour market are also evident. By 2020, India will become the youngest country of the world, with 64% population in the working age group. The government will work towards clearing pending proposals. If we are able to stop corruption and give equal opportunity to bright and efficient workers, the economic upliftment will definitely increase. Agricultural activities contribute about 50% of the economy. Agriculture involves growing and selling of crops, poultry, fishing, cattle rearing, and animal husbandry. So the government should support the farmers. We should control the population, as it is the biggest reason for the downfall of the economy. The handicraft items that were losing their ability with the introduction of the industrial goods. The demand for these goods began to decline. The agricultural activities also did not pay enough. So we should pay more attention to economic goods. The Indian economy has undergone various positive changes since independence. It is increasing at a good pace. The government must make efforts to improve the economic condition of these areas.