There are several major challenges that the Indian economy is currently facing, which are affecting its growth and development. The following are some of the major challenges:

• Low GDP growth rate: One of the biggest challenges facing the Indian economy is the low GDP growth rate, which has been hovering at around 5-6% for the past few years.
• Unemployment: The high unemployment rate in the country is another major challenge. According to recent reports, India's unemployment rate stands at around 6%, which is higher than many other developing countries.
• Inflation: The rising inflation rate is another major challenge for the Indian economy. It is affecting consumer purchasing power, making it difficult for people to afford basic necessities.
• Infrastructure: India's infrastructure is still underdeveloped in many areas, which is hindering economic growth. The government needs to invest more in infrastructure development to boost industry and spur growth.
• Currency depreciation: The depreciation of the Indian rupee against other major currencies is another challenge. It is affecting trade and increasing the cost of imported goods, which is adding to inflation.
• Political uncertainty: Political instability and uncertainty can also have a negative impact on the economy. Investors may be hesitant to invest in the country due to the unpredictability of the political situation.

Overall, these challenges are significant and require careful consideration and strategic planning in order to be effectively addressed.