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Essay on Boosting Economic Growth of India

Boosting Economic Growth India's GDP growth rate slowed down to 5 per cent in Q1 of FY20 and is expected to be around 6 per cent or below in this financial year. As former Reserve Bank of India governor Y V Reddy mentioned recently, a combination of cyclical and structural factors have been responsible for the slowdown.  One example is the auto sector. There seems to be a collapse of aggregate demand in the economy. Global uncertainties have added to the problem.  In the last few weeks, the government has announced several measures to improve both consumption and investment in different sectors and for the economy as a whole. The announcement of reduction in corporate tax rates may help in reviving the sentiments of the private sector but the tax revenue may also decline and put pressure on fiscal deficit. These stimulus and structural measures and monetary policy may help reviving the economy to some extent in the near future. But, these measures alone may...
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How to Improve Indian Financial System

How to Improve Indian Financial System India had been successful in managing the global financial crisis of 2008 but present condition of its banking sector is worst.  The reasons for this are mounting bad loans, poor accounting standards and lax supervision.  India's ratio of NPA has grown from lowest to highest in 8 years among G-20 club. The sudden rise in bad loan ratio is due to RBI strict monitoring  in recent years which was left hidden. Bad loan problem is high for SBI but private banks also have it. According to IMF Indian banks are more vulnerable to financial shocks then other emerging markets banks. Very few recommendation of Nayak Committee which was formed to suggest reforms to strengthen have been implemented even after three-and-a-half years. Government should undertake structural reforms for state-owned banks to improve Indian Financial system and boost growth and investment.
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Role and Function of NABARD

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