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The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy. Notably, India had also been witnessing a pre-pandemic slowdown, and according to the World Bank, the current pandemic has "magnified pre-existing risks to India's economic outlook".
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 119th by GDP (PPP). [58]
In India's Agriculture Problem: Lack of Access to Credit is one of the most pressing issues that hinder India’s rural population from progress. It means the lack of access to credit by a farmer. Farmer ’s suicide within the agricultural sector does not occur as a shocking matter as the farmers are deprived of monetary assistance when they ...
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.
Corruption in India is an issue which affects economy of central, state, and local government agencies. Corruption is blamed for stunting the economy of India. [1] A study conducted by Transparency International in 2005 recorded that more than 62% of Indians had at some point or another paid a bribe to a public official to get a job done.
12 June – The Indian external affairs ministry issues a notice urging the Russian Government to quickly return all Indian nationals who are serving in the Russian army after two Indians recruited are killed in the war with Ukraine. [87] 14 June – 2024 Northeast India floods: Heavy rains and landslides kill six people across Sikkim. [88]
India is a hub for pharmaceutical and biotechnology industries; world-class scientists, clinical trials and hospitals yet country faces daunting public health challenges like child undernutrition, high rates of neonatal and maternal mortality, growth in noncommunicable diseases, high rates of road traffic accidents and other health related issues.