Ailing Indian Economy -A glance

For a long time, Indian Economic Position was in resonance with other developing countries. This year so many countries improved their GDP and job rate but India's Position is discouraging.As per the organization of Economic Co-operation and Development (OECD) nearly 40 countries had their economy better, overcoming 2008 world recession.

India and very few other countries growth is on backfoot at present.JP Morgan research calculations also pointed our employment rate negatively, but Russia with the same problem also improved its position.

India's available data is insufficient and even available one showed grim situation.Some experts point our inflation compromised interest rate, global trade recovery as causes for this.But other countries have a better export position.Rising rupee value made our exports less competitive.Some others say other countries too have the same problem.

So many point out, recent demonetization, complexity of Goods and Services Tax(GST) hampered local business and exports and at the same time increased imports to meet demand.Automation is not culprit in employment field as it created elsewhere more opportunity.

Low-end goods (like toys) manufacture, better labour laws, reduction in tax rates, Infrastructure development are some measures advised by experts for better economic growth of the country. Anyway, they shun experiments in finance field (like demonetization).