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A key principle of the Bombay Plan was that the economy could not grow without government intervention and regulation. Under the assumption that the fledgling Indian industries would not be able to compete in a free-market economy, the Plan proposed that the future government protect indigenous industries against foreign competition in local ...
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 liberalisation of the Indian economy was followed by a large increase in inequality with the income share of the top 10% of the population increasing from 35% in 1991 to 57.1% in 2014. Likewise, the income share of the bottom 50% decreased from 20.1% in 1991 to 13.1% in 2014. [89]
Economic analysts have argued that the economy of the Soviet Union actually represented an administrative or command economy as opposed to a planned economy because planning did not play an operational role in the allocation of resources among productive units in the economy since in actuality the main allocation mechanism was a system of ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 4 February 2025. Integrated Schematic National Programs for Economic Development This article is part of a series on the Politics of India Constitution Amendment Basic structure doctrine Fundamental Rights, Directive Principles and Fundamental Duties of India Human rights Judicial review Taxation Uniform ...
On 1 May 1923 the Labour Kisan Party of Hindustan was founded in Madras, by Singaravelu Chettiar. The LKPH organised the first May Day celebration in India, and this was also the first time the red flag was used in India.
Worldwide employment In agriculture, forestry and fishing in 2021. India has one of the highest number of people employed in these sectors. As per the 2014 FAO world agriculture statistics India is the world's largest producer of many fresh fruits like banana, mango, guava, papaya, lemon and vegetables like chickpea, okra and milk, major spices like chili pepper, ginger, fibrous crops such as ...
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