Name: Souvik Biswas

Subject: Indian social structure (GE Basket)

Semester: 1
Roll No.: 16
 Topic: Causes of Economic Problem In Our Country
Date: 22/11/2022 By: Souvik Biswas-BBA 1 st year (JEEB)
Place: Kolkata

The Indian economy is currently facing a difficult period. There are many big
problems - unemployment, poor education standards, poor infrastructure,
deteriorating balance of payments. High Private Debt, Increased Not Decreased
Inequality, Inefficient Agriculture. Despite rapid economic growth, unemployment
remains a problem in both rural and urban areas. Due to rapid economic growth,
unskilled workers are struggling to find jobs in growing industries. According to one
report, more than 30% of people aged 15-29 in India are unemployed, educated or
trained. With little to no government welfare for the 4,444 unemployed, this leads
to extreme poverty. Many Indians lack basic amenities lack access to running water.
Indian public services are creaking under the strain of bureaucracy and inefficiency.
Over 40% of Indian fruit rots before it reaches the market; this is one example of
the supply constraints and inefficiency facing the Indian economy.

The first reason behind this is scarcity of resources. Resources, including land,
capital, etc., are inadequate compared to demand, and economies cannot produce
everything that people want. This is an economic problem that exists in all
economies. is the root cause. Scarcity is universal and affects every individual, every
organization and every nation. If it weren't for the lack of resources, there would
have been no financial problems.

Next comes the human needs. Human wants are unlimited and unending. In other
words, humans can never be satisfied. When one want of a person is satisfied, a
new want emerges. Wants are endless and constantly keep on multiplying, and
cannot be met due to limited resources. Human wants also vary in their priority,
i.e., not all wants are of equal intensity. For each individual, some desires are more
important and urgent than others. For this reason, people allocate resources in
order of priority to meet their needs. If all human needs were equally important,
decision-making would be impossible.

Conclusion
As we arrive towards the end now we can conclude that the Indian economic problem
is a major concern since a long time and staying and causing several problem among
the different people and causing overall economic fall of our country. It will last if the
division of poor and rich stays the same.