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[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. [4] [26]
The economic problems inherited at independence were exacerbated by the costs associated with the partition, which had resulted in about 2 to 4 million refugees fleeing past each other across the new borders between India and Pakistan. Refugee settlement was a considerable economic strain. Partition divided India into complementary economic zones.
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 ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 12 December 2024. Integrated Schematic National Programs for Economic Development The article's lead section may need to be rewritten. Please help improve the lead and read the lead layout guide. (December 2021) (Learn how and when to remove this message) From 1947 to 2017, the Indian economy was ...
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.
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 125th by GDP (PPP). [62]
The economy was influenced by extensive regulation, protectionism and public ownership, leading to pervasive corruption and slow economic growth. Since 1991, India has pursued more economic liberalisation. Today, India is the third largest and one of the fastest-growing economies in the world.
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 ...