Thanks to the pandemic, the year 2019 seems like ages ago. That year, Prime Minister Narendra Modi promised the nation that India will become a $5 trillion economy by 2024-2025. Just like time, the pandemic slowed down everything else, including the rise of the Indian economy. It is now predicted that the rise to $5 trillion will take at least until 2029-2030. Good things take time. But with the state of the economy right now, the people won’t be able to wait that long.
In March this year, the country experienced its highest inflation in 17 months. Food prices inflated by 7.68 per cent. The rural food price index went over 8 per cent. Vegetables went from a 6 per cent inflation rate in February to 11 per cent. All of these numbers are signs of an economy in distress. This, along with unemployment, does not signal a good economy.
On 26 January this year, thousands of job seekers gathered to set fire to an empty railway coach in Gaya. It was a way to express their frustration at India’s largest employer, the Indian Railways. Around 12 million people applied for 35,000 jobs in the railways. The government increased the education criteria for jobs that require a simple high school education. That hurts those who didn’t have the means to acquire further education. Then, the government also added a second exam, which means that those who passed the first exam will have to give the second one. That means, the first one by itself does not hold any value.
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