India is the second-most populous country in the world. According to the 2016 census, about 130 million people live in India. India’s economy was also very strong. At least it was better than the neighbouring countries.
But since the Modi government took over power in India, India’s relations with neighbouring countries have deteriorated. In particular, with Nepal, Bangladesh and Bhutan. It is to be noted that these countries used to import all their essential products from India. Due to the deteriorating relations between India and neighbouring countries, India has lost a huge market for their economy.
The way the Indian economy started collapsing.
Originally, Covid-19 spread like a plague across India. The situation became so dire that people fell on the streets and died due to a lack of medical treatment. Moreover, there were not enough hospitals in India. The Government of India was in dire straits when it came to providing oxygen to patients with coronary heart disease. The whole of India was in a year-long lockdown at the time of this Corona epidemic
India suffered the consequences of this lockdown very quickly. During the lockdown, India’s GDP growth rate stood at -23 percentage. As a result, there is a food shortage all over India. However, the Indian government was able to manage that time very well.
Moreover, some of the most popular Chinese social media, including TikTok, was some of the ways for Indians to make ends meet. Which is banned by the Government of India. There are an estimated 70 million tikkores across India. When you stop earning from these social sites. Unemployment among Indians has multiplied several times.
What is the current state of India’s economy?
At present, the state of India’s economy is not very good. At present, the total GDP of India is 2.7 trillion US dollars. However, Bangladesh has recently overtaken India in the economy. Present-day India is also lagging behind Bangladesh. The per capita income of a person in India is 2150 US dollars. On the other hand, the per capita income of a person in Bangladesh is about 2655 US dollars.
However, India’s current GDP has improved somewhat. At present, the GDP growth rate has come down from -23% to 1%. If this continues, India’s GDP will be able to turn around well.
A huge blow to the Indian economy?
Neighbouring countries have turned their backs on India. Especially Bangladesh, which was once known as India’s biggest ally. Moreover, due to the trouble with China, India has to spend a lot behind the military.
But the biggest problem is the current political instability in India. The current Modi administration in India wants to make India a Hindu state. On the other hand, India is a secular state and the people of the country want to have a secular constitution. However, some BGB supporters want to form a Hindu state by omitting the secular constitution.