Problems Faced By India 's Economy Essay

1578 Words 7 Pages
Throughout the world, there are different nations that face major issues in terms of income distribution throughout the country. Specifically, India has been plagued with a severe wage gap between the urban and rural sector of the nation. There is a variety of factors that play a role in a lack of income distribution; but what is most important is the fact that it displays a troubling economy and proves that while a nation may appear wealthy, the standard of living for the majority may be insufficient. While India’s economy may have shown signs of improvement after the fall of the British Raj, there will prove to still be a great deal of income disparity today as a result of government corruption, a lack of education in specific regions, and the inability to adjust to changing markets. The history of the Indian economy dates back to 1000 BC where the Indus Valley Civilization thrived, employing bartering as their main source of income. As time progressed, the population of India continued to grow along with it’s GDP, until the 19th century when the nation saw a major shift in politics. Prior to the British rule, India was under the control of the Mughal Empire. As the infrastructure of the empire began to collapse, Britain sought out the possibility of economic success in India. The British immediately began industrializing India, after the formation of the British Raj, in an attempt to take full advantage of the workforce as well as the existing natural resources in the…

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