Besides the welfare schemes, India needs deft management of inflation and unemployment to serve the poor and the underprivileged sections of society. Discuss. (250 words) [2022]

It is indeed true that besides welfare schemes, India needs deft management of inflation and unemployment to serve the poor and the underprivileged sections of society.

Inflation refers to the sustained increase in the general price level of goods and services in an economy over a period of time. High inflation can erode the purchasing power of people, particularly those with fixed or low incomes, such as the poor and the underprivileged. Therefore, the government needs to manage inflation effectively to protect the interests of these vulnerable sections of society.

Unemployment, on the other hand, refers to the situation where people who are willing and able to work are unable to find employment. Unemployment can have serious consequences for people, particularly those from disadvantaged backgrounds, as it can lead to poverty, social exclusion, and a sense of hopelessness. Therefore, the government needs to manage unemployment effectively to ensure that people have access to economic opportunities and are able to lead productive and fulfilling lives.

In conclusion, while welfare schemes can provide much-needed support and assistance to the poor and the underprivileged, it is also important for the government to manage inflation and unemployment effectively. This will help to create a more equitable and inclusive society, where everyone has the opportunity to participate in the economy and lead a decent standard of living.

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