Economy of India - Wikipedia, the free encyclopedia - 1 views
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The economy of India is the eleventh largest economy in the world
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A revival of economic reforms and better economic policy in first decade of the 21st century accelerated India's economic growth rate
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However, the year 2009 saw a significant slowdown in India's GDP growth rate to 6.8%[19] as well as the return of a large projected fiscal deficit of 6.8% of GDP which would be among the highest in the world.
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Goldman Sachs has outlined 10 things that it needs to do in order to achieve its potential and grow 40 times by 2050
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Improve Governance Raise Educational Achievement Increase Quality and Quantity of Universities Control Inflation Introduce a Credible Fiscal Policy Liberalize Financial Markets Increase Trade with Neighbours Increase Agricultural Productivity Improve Infrastructure Improve Environmental Quality.
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However the subsequent government policy of fabian socialism hampered the benefits of the economy leading to high fiscal deficits and a worsening current account.
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ince 1990 India has a free-market economy and emerged as one of the fastest-growing economies in the developing world; during this period, the economy has grown constantly, but with a few major setbacks. This has been accompanied by increases in life expectancy, literacy rates and food security.
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India is often seen by most economists as a rising economic superpower and is believed to play a major role in the global economy in the 21st century.