A 100 points for this -
Write a 500 word paragraph on econmy
Answers
Answer:
India is mainly an agricultural economy. Agricultural activities contribute about 50% of the economy. Agriculture involves growing and selling of crops, poultry, fishing, cattle rearing, and animal husbandry. People in India earn their livelihood by involving themselves in many of these activities. These activities are vital to our economy. The Indian economy has seen major growth in the last few decades. The credit for this boom largely goes to the service sector. Agriculture and associated activities have also been improvised to match the global standards and the export of various food products has seen an upward trend thereby adding to the economic growth. The industrial sector does not lag behind a bit. A number of new large scale, as well as small scale industries, have been set up in recent times and these have also proved to have a positive impact on the Indian economy.
essay on indian economy
Government’s Role in Economic Growth
Majority of the working Indian population was and is still engaged in the agriculture sector. Growing crops, fishing, poultry and animal husbandry were among the tasks undertaken by them. They manufactured handicraft items that were losing their charm with the introduction of the industrial goods. The demand for these goods began to decline. The agricultural activities also did not pay enough.
The government identified these problems as hindering the economic growth of the country and established policies to curb them. Promotion of cottage industry, providing fair wages to the laborers and providing enough means of livelihood to the people were some of the policies laid by the government for the country’s economic growth
Answer:
An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. In an economy, the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.
Explanation:
Our Indian Economy is the fifth largest economy in the world with a GDP worth ＄2.94 trillion. PPP or the purchasing power parity, says how much money can buy in India compared to other countries. ... In these recent times, for the well-educated people, India became an information technology hub.
The agriculture sector provides the highest rate of employment for those in the rural sections of the society. India is the largest producer of goods such as pulses, milk, and jute in the entire world.
Indian Economy experienced a radical transformation from the forty-year-long old economic regime of the Mixed Economy in the year 1991.
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