How would you evaluate my nation's economy as it currently stands? What are the good, and what are the bad? What should I change and do differently?

My nation Kotta Telangana has reached 9% inflation, and real growth has slowed down to 1-2% per quarter. Living costs have risen quite rapidly, so that my increases in welfare payments each winter seem to be largely negated by inflation. I have a large fiscal deficit and a rapidly expanding national debt (debt rate increases ~0.5-1.0% each quarter), but there doesn't seem to be an accompanying expansion anymore. I am also having difficulty raising my influence, as popularity and int. reputation seem to be quite arbitrary, and my ideological play-style does not permit accumulation of power.