How do you look at Indian Economy?
India has emerged as the fastest growing major economy in the world and is expected to be one of the top three economic powers of the world over the next 10-15 years, backed by its strong democracy and partnershiPS
Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.
Twenty-five years ago, India embarked on a journey of economic liberalisation, opening its doors to globalization and market forces. The IMF expects GDP to grow more than 7 percent this year, making India the world's fastest-growing large economy.
India has sustained rapid growth of GDP for most of the last two decades leading to rising per capita incomes and a reduction in absolute poverty.India has followed a different path of development from many other countries. India went more quickly from agriculture to services that tend to be less tightly regulated than heavy industry.
India is mainly an agricultural economy. Around 50% of India’s workforce is involved in agricultural activities that contribute majorly to its economy. People in India earn their livelihood by indulging in many of these activities. These activities are vital for our economy
Indian economy is growing very fast as compared with last five years but next Government need to focus on exports led growth in India.in the last five years Indian overal growth was too much driven by domestic demand
Indian economy bags the seventh position among the other strongest and largest economies among the world. Being one of the top listed countries among the developing countries in terms of industrialization and economic growth, India holds a robust stand with an average growth rate of approx 7%.
The Economy of India is the seventh-largest in the world by nominal GDP.The country is classified as a newly industrialised country, member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Pakistan or Portugal,India's economy became the world's fastest growing major economy from the last quarter of 2014, replacing the Republic of China.
The Indian economy is expected to grow at an annual rate of 7.4% in 2018 and 7.8% in 2019, according to a recently released IMF Economic Outlook. India’s economy is lifted by strong private consumption as well as fading transitory effects of the currency exchange initiative and implementation of the national goods and services tax. Over the medium term, growth is expected to gradually rise with continued implementation of structural reforms that raise productivity and incentivize private investment.
India’s projected 2018-19 growth rates are well above China’s 6.6% and 6.4% over the same period. And things could get even worse for Chinese economic growth over the long-term, due to the continued rise of the country’s nonfinancial debt.
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The economy of India is a developing mixed economy. It is the world's seventh-largest economy by nominal GDP and
the third-largest by purchasing power parity (PPP).
The country ranks 139th in per capita GDP (nominal). After the 1991 economic liberalisation, India achieved 6-7% average GDP growth annually. Since 2014 with the exception of 2017, India's economy has been the world's fastest growing major economy.
India has one of the fastest growing service sectors in the world with an annual growth rate above 9% since 2001, which contributed to 57% of GDP in 2012–13. India has become a major exporter of IT services.
India is the world's seventh - largest economy, indian economy is growing faster than any other country except china.
India has sustained rapid growth of GDP leading to rise in per capital income and reduction in absolute poverty.
per capital income has been doubled in 12years.Despite a strong attempt to become an open economy, export of goods and services from india account 15% of GDP although this will rise in future ahead too
The eonomy of india is a developing mixed economy. It is the worlds seventh largest economy by nominal GDP and the third largest by purchasing power parity(PPP). India topped the world banks growth outlook for the first time in fiscal year 2015-2016 during which the exonomy grew 7.6%. India current economic growth( as the worlds fastest growing major economy as of 2015) has improved its standing onthe worlds political stage,even though it is stil a developing country but one that is showing strong development.
Indian economy is one of the fastest growing economy in the world , and in future it will be one of the strongest economies in the world . The major population of indian economy is engaged in agriculture sector but more than 50 % of the contribution to GDP is from the service sector . The involvement of people have increased in the service sector but we should keep on growing the service sector as major contribution is from service sector. India is the seventh largest economy by nominal income and third largest by purchasing power parity. India will still continue to emerge as a powerful economy and major reason for Indian economy progress and success could be the economic reforms 1991 , which gave the boost to indian economy and India emerged as one of the strongest economies in the world
The Economy of India is the seventh-largest in the world by nominal GDP. India has emerged as the fastest growing major economy in the world and is expected to be one of the top three economic powers of the world over the next 10-15 years, backed by its strong democracy and partnership
India ranks 139 in per capita GDP.
India Economic System. The Indian economy is the world's twelfth largest according to market exchange rates. It is also the fourth largest economy by purchasing power parity (PPP) basis. From 1947 to 1991, the India Economic System was based on social democratic-based policies.
What exactly do you mean by "main source of Indian economy"? It is the service sector which is the main source of national income. Therefore service sector contribute more than 50% of the GDP. But it is the agricultural sector which employs more than 50% of the population.
As global economic activity continues to strengthen, global growth is forecast to grow by 3.9% during 2018 as per the International Monetary Fund’s (IMF) January 2018 World Economic Outlook. The IMF expects India to grow at 7.4% during 2018 which could increase further to 7.8% during 2019 in contrast to 6.7% during 2017.
The Economic Survey for 2017-18 pegs the figure at 7-7.5% for the financial year ahead.