Indian economy after 70 years of Independence
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✨hey mate!✨
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The economy of severely effected by these sanctions and corruptions. But from 2000, India opened doors for FDI's and several economic transforms were made to make India as seventh largest economy.
following are the changes in economy of India after independence:-
(1) India's food grain production has more than doubled over the decades that followed colonial rule to a record 264 million tonnes in the fiscal year 2014. But, to feed the fast growing population, with more than a quarter of them still estimated to be below the poverty line, the country needs to produce more.
(2) Post independence, the country has progressed significantly in building roads to connect its cities with its hinterland, but given that poor infrastructure is a major concern for India, the country needs a wider road network to carry the fruits of growth to far-flung villages.
(3) India's imports have shot up at a faster pace than exports over the decades resulting in a widening gap in the trade balance. India's current account deficit widened to a record 4.8 percent of the GDP in the fisal year 2013, before falling to 1.7 percent in fiscal year 2014 after the government clamped down on gold imports.
=============================================>
hope it is helpful!✌️✌️
============== :
The economy of severely effected by these sanctions and corruptions. But from 2000, India opened doors for FDI's and several economic transforms were made to make India as seventh largest economy.
following are the changes in economy of India after independence:-
(1) India's food grain production has more than doubled over the decades that followed colonial rule to a record 264 million tonnes in the fiscal year 2014. But, to feed the fast growing population, with more than a quarter of them still estimated to be below the poverty line, the country needs to produce more.
(2) Post independence, the country has progressed significantly in building roads to connect its cities with its hinterland, but given that poor infrastructure is a major concern for India, the country needs a wider road network to carry the fruits of growth to far-flung villages.
(3) India's imports have shot up at a faster pace than exports over the decades resulting in a widening gap in the trade balance. India's current account deficit widened to a record 4.8 percent of the GDP in the fisal year 2013, before falling to 1.7 percent in fiscal year 2014 after the government clamped down on gold imports.
=============================================>
hope it is helpful!✌️✌️
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