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Old May 4th, 2016, 01:12 PM
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Default What Is The Economy Of India

Hello I want to know the Economy Of India and Challenges before Indian economy can anybody tell me ??
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Old May 4th, 2016, 01:13 PM
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Default Re: What Is The Economy Of India

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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