What should be done to improve the economic growth of a country?

Answer 1

There is no single correct answer to your question. But a lot of things do help. From the citizens point of view, they should stop depending on the government for everything. They should honestly pay taxes, stop using free resources, use public transport, start earning, educate themselves & their family members, help eradicate corruption by refusing to pay any bribes, stop availing reservation, never destroy public property, never encourage or participate in a 'bandh' or strike of any kind, minimise holidays & maximise productivity etc. From the governments point of view, take immediate steps to resolve all internal & external conflicts, reduce the budget for arms built-up, increase budgetary support for education, health & infrastructure, reduce taxes, abolish income tax (allow all those who work hard to earn as much as they can; lots of black money will suddenly surface & will be used productively), encourage savings & tax only lavish & luxury spending, abolish reservation system, immediately scap all national holidays except 3-4 important ones ( if you have a festival, take leave, dont force others to join you; let others work) make labour laws more conducive to productivity, reduce taxes on essential goods like gasoline to normal levels (presently over 50% of the price of petrol & diesel is due to the high tax). Do all this & the country will be no longer still be 'developing', 60 years after independence.!!

Answer 2

Growth in America is fine acutally, but to improve the situation for companies to stay actually reform the tax code and lower corporate income taxes, and stop taxing captial. The middle class in America is acutally screwing themshevles sometimes by passing on the tax increase onto corporations. Fair Tax idea would be good as would a tax on compsumtion to encourge savings, and a stronger safety net to allow faster firings by companies, but also to allow workers more resourcs to retrain or reskill faster. Demark model of flexsecruity has some good ideas about how to make the economy more efficent. The downside is the taxes leveled discourage longer working hours, but that can be modified acutally to American realities. The present system now in America works, but its becoming outdated with the growing of fast changing technologies, so a minor modifaction on economic policy would be good for America.

Answer 3

The answer to this question has a wide range of alternatives, but one of the most important would be for the government to promote the development of native grown enterprising and to develop a strong exporting mechanism which, while consonous with the central government politics, would not be a tax burden monster for those willing entrepreneurs. Money coming in plus creation of direct jobs equals a better economy. But like I said before, this is but one of the many factors that can contribute to this development.

Answer 4

Allow businesses to do business without government getting in the way with needless regulations, keep taxes low, allow free trade, and make sure the rule of law is enforced (that should be government's biggest priority).

20-30 years ago, Hong Kong and Taiwan was two of the poorest countires on Earth. By using a policy where businesses could do business without government interference, they have rapidally grown to be amoung the richest countries .

Answer 5

Improving the agricultirual sector, lowering down the interest rates & easy availability of loans to farmers,improving heavy & small scle industries.

Answer 6

peace and stabilitiy,hardworking people,good moral of the gov't,knowledge,good relation with other countries,and ofcourse no corruption...but this are not the only thing there are many things which contribute for the economic development of a nation.

Answer 7

After international war11, I went to flow to Germany.I observed some labourers engaged on a highway at night time in front of my inn.i became shocked to confirm that they did now stay wakeful at night and highway became finished interior the morning.it incredibly is named nationalism.people in Germany knew that they can rebuild their united states on condition that they think of of united states in the past questioning of their very own convenience.We Indians could have same emotions of nationalism and do despite we would prefer to do.

Answer 8

Encourage a policy of fair trade as opposed to free trade. Americans are capable of competing with any country in the world in a fair trade arena. Americans are victims of uncompetitive forces when we are forced to live and work in a free trade environment. America will slowly wither and die if we do not correct our trade practices!

Answer 9

Concentrate on agriculture. Limit the spending culture and strengthen the saving culture.

Answer 10

Empower yourself to do more.Never think that you are one billionth part of a country,think that you are India and you will do everything humanly possible to take India forward.Create a deep feeling of nationalism in you.