introduction on economic growth of India
Answers
Answer:
India's GDP growth during January–March period of 2015 was at 7.5% compared to China's 7%, making it the fastest growing economy. ... During 2014–15, India's services sector grew by 10.1%, manufacturing sector by 7.1% & agriculture by 0.2%.
Answer:
India has sustained rapid growth of GDP for most of the last two decades leading to rising per capital incomes and a reduction in absolute poverty. Per capital incomes (measured in US $) have doubled in 12 years
But India has one third of all the people in the world living below the official global poverty line. It has more poor people than the whole of sub-Saharan Africa
Per capital income is $1,270, placing India just inside the Middle Income Country category
India's per capital income is 1/20th that of the UK
Life expectancy at birth is 65 years and 44% of children under 5 are malnourished. The literacy rate for the population aged 15 years and above is only 63% compared to a 71% figure for lower middle income countries.
Despite a strong attempt to become an open economy, exports of goods and services from India account for only 15% of GDP although this will rise further in the years ahead
India runs persistent trade and fiscal deficits and has suffered from high inflation in recent years
India's growth rate has slowed and high inflation is a constraint on competitiveness and growth.
Investments by Indian businessmen abroad have overtaken foreign direct investment for the first time – reflecting a lack of confidence among Indian entrepreneurs about their home economy