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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 ]
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
Vignettes in the book include the history of Indian bank notes dating back to 1770, when the Bank of Hindostan, a private bank located in Calcutta issued its first banknotes. However, the earliest banknote to still survive is dated 1810, by the Bank of Bengal. The book includes a comprehensive listing of all Indian banknotes since 1770. [6]
The document is the Ministry's view [clarification needed] on the state of the economy of the country. This document of the Ministry, the Economic Survey of India reviews the developments in the Indian economy over the past financial year, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the ...
These are lists of Indian states and union territories by their nominal gross state domestic product (GSDP). GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). [1]
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 ...
[21] [24] General economic recovery under Gandhi led to an average inflation at 6.5% from 1981–82 to 1985–86; the lowest since the beginning of India's inflation problems in the 1960s. [ 25 ] Unemployment stayed constant at 9% over a nine-year period (1971–80) before declining to 8.3% in 1983.