The Great Depression was one of the most severe economic downturns in modern history, beginning with the stock market crash of 1929 and lasting throughout the 1930s. It caused massive unemployment, a dramatic decline in global trade, and widespread financial turmoil. This crisis affected every sector of the economy, leading to political instability, social unrest,…
The Dawes Plan, introduced in 1924, was a significant economic initiative aimed at stabilizing the German economy following the economic turmoil caused by World War I and the Treaty of Versailles. The plan, formulated by an international committee led by American banker Charles G. Dawes, sought to restructure Germany’s reparations payments, ease economic hardships, and…
India has set an ambitious goal of becoming a $5 trillion economy, a vision that represents its aspirations for rapid economic expansion, global competitiveness, and improved living standards. The government has undertaken key structural reforms, policy measures, and sectoral advancements to accelerate growth, but significant challenges remain. This article critically analyzes India’s progress toward achieving…
A nation’s economic growth and development depend heavily on how its government allocates financial resources through the annual budget. The budget determines the course of public spending, taxation, investment in key sectors, and social welfare initiatives, all of which shape economic stability and progress. In India, the Union Budget is a crucial policy instrument that…
Inflation is one of the most critical macroeconomic challenges affecting India’s economy. It refers to the sustained increase in the general price level of goods and services over time. While moderate inflation is considered beneficial for economic growth, high and persistent inflation erodes purchasing power, increases the cost of living, and creates financial instability. In…
Introduction The economic reforms of 1991 marked a turning point in India’s economic history. Prior to 1991, the Indian economy was characterized by a mixed economic model with a heavy reliance on state control, licensing systems, and protectionist policies. However, due to a severe balance of payments crisis, the government was compelled to introduce a…
Introduction The COVID-19 pandemic and the subsequent lockdowns imposed by the Indian government had a profound impact on the country’s economy. The sudden halt in economic activities led to a sharp decline in GDP growth, disrupted supply chains, increased unemployment, and posed challenges to businesses across sectors. To counter the recessionary trends induced by the…
Introduction The COVID-19 pandemic, which emerged in late 2019, caused an unprecedented global crisis, affecting health, societies, and economies worldwide. While the immediate concern was the health emergency, the pandemic also led to one of the most severe economic downturns in modern history. Nations across the globe faced economic contractions, business closures, job losses, and…