THEME: INDIA’S ECONOMIC POLICY AND DEVELOPMENT

INITIATIVES:CHALLENGES AND OPPORTUNITIES

TITLE: GOVERNMENT DEVELOPMENT INITIATIVES: “WHETHER

A BOOM TO INDIAN ECONOMY”?

Ashu Sharma and Seema Roj

4TH Year, B.A.LL.B. (Hons.)

Jamnalal Bajaj School of Legal Studies, Banasthali University

Email-: ashusharma7062@gmail.com
Seemaroj2@gmail.com

1
 ABSTRACT

GOVERNMENT DEVELOPMENT INITIATIVES: “WHETHER A

BOOM TO INDIAN ECONOMY”?

Before introducing the India’s economy policy it is better to know that what type of economy India
has adopted ? India has mixed economy it is not pure capitalism nor pure socialism but a mixture of
both. Now coming on economic policy it come certain plans of reforms on poverty, sectorial issues
related to agricultural, Industrial. With the time it become liberal as it attract the FDI in India.it
direct the policy maker that in which sector the allocation of the fiancé is to be made. The India P.M
MR Narendar modi has also supported the FDI through friendly relation relation with the other
countries. India has contributed much to developed Indian economy by introducing various schemes
in area related to digital infrastructure and digital empowerment. The govt is also working on new
emerging concept of (digital village) and now the present govt known popularly as (digital highway
of country. These govt initiatives helps in nation building such as make in India with objects to
convert India into a manufacturing hub through selling products worldwide and its opens the gate of
investment for defense, railway, space etc. But certain challenges are facing it as absence of skill
availability and policies regards to it. It can be sort out by building such infrastructure by focusing
labor laws, tax laws, more friendly laws which will help to create a large business and high
productivity in the sector. Coming on second initiative of nation building that is digital India. Which
aim to provides the finance service availability to people at low cost by electronic means which will
help people to excess latest information this initiative includes sub objects in it like digital locker, e-
education , e- health, e-sign and national scholar portal and it helps in building the sound
architecture , electronic delivery service apart from objects and opportunities there are some barriers
which slow down this initiative that is slow internet excess due to which level of illiterate people
shifted to 280 million . and secondly farmers are unable to avail this benefit in connection with
forecasting and market price services in this regard govt has taken initiative broadband connections
3g,4g, networks and certain other schemes which will help to get rid from all these problems face
by it, third initiative of govt is finance inclusion which creating the highly impact on the life of
public by providing hope to low income groups through providing financial support at affordable
cost but this scheme not functioning very well due financial illiteracy and lack of capabilities and
usefulness of the accounts. The solution to this challenge can be to work together as to reduce the
poverty and boost the prosperity in the nation .lastly the paper proffers some suggestions for boom
the economy to access the new field in India.

Key Words:
Economy economy, foreign direct investment ,digital india, make in India, financial inclusion