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The economic history of the India since 1947 can be divided into two epochs: 1.1947-91 which saw heavy government involvement in the economy, and a slow growth rate in GDP 2.1991–present which saw deregulation and a rapid growth in GDP, and reduction in poverty.
Graph of world population over the past 12,000 years . As a general rule, the confidence of estimates on historical world population decreases for the more distant past. Robust population data exist only for the last two or three centuries. Until the late 18th century, few governments had ever performed an accurate census.
The following day, 15 August 1947, India, now Dominion of India, became an independent country, with official ceremonies taking place in New Delhi, Jawaharlal Nehru assuming the office of prime minister. Mountbatten remained in New Delhi for 10 months, serving as the first governor-general of an independent India until June 1948. [98]
India wins cricket world cup after 28 years under the captaincy of MS Dhoni. 13 May : After 34 years of Left Front Government, Trinamool Congress and Congress alliance come to power in West Bengal. 2012: 25 July : Pranab Mukherjee, the former Finance Minister is elected as the 13th president of India. 2013: 12 February
It was one of the largest empires to have existed in the Indian subcontinent, [302] and surpassed China to become the world's largest economic power, controlling 24.4% of the world economy, [303] and the world leader in manufacturing, [304] producing 25% of global industrial output. [305]
India experienced deindustrialisation and cessation of various craft industries under British rule, [12] which along with fast economic and population growth in the Western world, resulted in India's share of the world economy declining from 24.4% in 1700 to 4.2% in 1950, [13] and its share of global industrial output declining from 25% in 1750 ...
The 1951 census of India was the ninth in a series of censuses held in India every decade since 1872. [1] It was also the first census after independence and Partition of India. [2] 1951 census was also the first census to be conducted under 1948 Census of India Act. The first census of the Indian Republic began on February 10, 1951. [3]
The US Dollar was exchanged at 4.97 Indian Rupees. In 1947, the year India gained Independence over the British Raj, 90% of India's population was rural and 55% lived below the international poverty line. [12] The average life expectancy was 27 years, and the literacy rate (in 1951) was 16.7%. [63]