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Topic Review (Newest First)
May 4th, 2016 12:42 PM
Priyanka Goyal
What Is The Economy Of India

Hello I want to know the Economy Of India and Challenges before Indian economy can anybody tell me ??

As you want to know the Economy of India

The Economy of India is the 7th principal in the world with a GDP (a year's goods and services) of $2.18 trillion (U.S.).

f you consider PPP (how much that money may buy in India compared to other countries), the economy is third largest (worth $8.02 trillion U.S.).

However due to India's huge population, the economy was still only $6,209 (considering PPP) per person per year in 2015.

India's economy includes agriculture, handicrafts, industries, and a lot of services.

Services are the main foundation of economic growth in India today, though two-thirds of Indian people earn their living directly or indirectly through agriculture.

In recent times, due to its large so many well-educated people who can speak English, India became a pioneer in information technology.

Here are the Challenges before Indian economy:

Population explosion:-

The rising population is eating into the achievement of India. According to 2011 census, the population of India has crossed one billion and is growing at a rate of 2.11% just about.

Such a vast population puts lot of stress on economic infrastructure of the nation.
Thus India has to control its burgeoning population.

Poverty: -

As per records of National Planning Commission, 36 crore people were living below the poverty line in India in 2012.

Unemployment: -

The growing population is pressing hard on economic resources as well as job opportunities.

Indian government has started a variety of schemes such as Jawahar Rozgar Yojna, and Self Employment Scheme for Educated Unemployed Youth (SEEUY).

But these are proving to be a drop in an ocean.

Rural Urban Divide: -

It is said that India lies in villages. Even today when there is lot of talk about relocation to cities, 70% of the Indian population still lives in villages.

There is a very stark dissimilarity in the pace of rural and urban growth.

Unless there isn't a balanced development Indian economy cannot grow.

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