Reasons of Present Indidian Economic Crises

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Today the Indian finance minister blamed Eurozone crises for India’s economic slowdown which is far from the truth, reasons for India’s financial mismanagement are more internal than external. Finance Minister Mr. Minister Pranab Mukherjee instead of taking responsibility for this terrible mess blaming the world for his inaction. Following are the real reasons for present Indian economic crises.  

1.      Economic governance and supervision failure by the government and national agencies.
2.      High inflation.
3.      Lack of vision and outdated economic policies.
4.      India is a no more attractive place for FDI because of high operating cost, complicated corporate governance, lack of infrastructure, corruption and continued red-tapism.
5.      Current account deficit.
6.      Continued slow industrial growth.
7.      Populist policies are amounting unsustainable fiscal debt.
8.      India is nowhere in competition with other emerging economies.
9.      No incentive for skill and merit to build a fair and prosperous India.
10.   Instead of supporting productive job creation Indian policies and programs supporting non-productive job creation for vote bank politics and these benefits are not reaching out to the real beneficiaries.

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