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Needed a Document for Indian economic development?
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Needed a Document for Indian economic development? Related: Economic...
The economic development of India was dominated by socialist-influenced policies, state-owned sectors, and red tape & extensive regulations, collectively known as "License Raj". It led the country and its economy isolated from the world economy. However the scenario started changing from the mid-1980s, when India began opening up its market slowly through economic liberalization. The policy played a huge impact on the economic development of India. The Indian economic development got a boost through its economic reform in 1991 and again through its renewal in the 2000s. Since then, the face of economic development of India has changed completely.
The economic reform of 1991 played a pivotal role in the economic development of India. Reaping its benefit, the growth of the country reached around 7.5% in the late 2000s. It is also expected to double the average income within a decade. According to the analysts, if India can push more fundamental market reforms, it will be able to sustain the rate and can even achieve the government's target of 10% by 2011.
India's Economic Development: Role of States
India is world's 12th largest economy and also the 4th largest in terms of purchasing power parity adjusted exchange rates (PPP). It is the 128th largest in the world on per capita basis and 118th by PPP. However, states have a major role to play in the economic development of India. There are few states which have higher annualized 1999-2008 growth rates comparing to others. The growth rates for the states like Gujarat (8.8%), Haryana (8.7%) and Delhi (7.4%) are considerably higher than other states like Bihar (5.1%), Uttar Pradesh (4.4%) and Madhya Pradesh (3.5%).
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Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum
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Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum.
Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Document for Indian economic development? Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum.
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