Lok sabha elections 2019 is over, PM Narendra Modi has also taken oath for his second inning in the central government and now is the time when he has to put his focus on the main challenges faced by India today. It’s not that he was not aware of the challenges being faced by the country but with his second term in the government, expectations of the public is obviously high to see how Modi and his government will handle the challenges. The unresolved issues with which the current government has begun its tenure include farm crisis, unemployment and economy issues.
Agriculture or farming is one of the most important sectors for the countries like India 55 % of the Indian workforce is employed in farming. When Modi‘s government was formed in 2014, it had promised to sort out the ways for increasing the income of farmers to double by 2019. However, due to some economic pressures, the government now has pushed the deadline to 2022. Implementation of new MSP regime and falling of the food prices are the reasons for farmers’ distress. Government has tried to reduce the burden of farmers by credit scheme, crop insurance and other related schemes for the farmers.
Unemployment is one of the reasons why Indian economy is unable to achieve better growth. The estimated population of India is 136 crore out of which 67 percent is the youth. Though, not everybody is looking for the job but this high count poses a big challenge before government to provide sustainable employment opportunities. Government’s focus on Make in India and emphasis on reviving Manufacturing sector has improved some condition as many people have got the jobs due to improvement in manufacturing sector. Still, the challenge is bigger.
Loopholes of Indian economy
It is great to know that Modi’s government has been able to keep the inflation in control which as a result led to the improved GDP of the country. Private consumption and investments have slowed down. Meanwhile, the economic growth of the country for the year 2018-19 has been revised to 6.8 percent that was earlier estimated to be 7.2 percent. Raised NPA of the Public Sector Banks has also added a dismal to the economy.
PM Narendra Modi now has to get some out of the box solutions to handle the above mentioned top challenges faced by the country. This will help in growth of the country in several aspects.