What are the measures for boosting growth rate of Indian Economy?
Answers
Explanation:
The economy of India is characterised as a developing market economy.[42][43] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the IMF, on a per capita income basis, India ranked 142nd by GDP (nominal) and 119th by GDP (PPP) per capita in 2018.[44] From independence in 1947until 1991, successive governments promoted protectionist economic policies with extensive state intervention and regulation; the end of the Cold War and an acute balance of payments crisis in 1991 led to the adoption of a broad program of economic liberalisation.[45][46] Since the start of the 21st century, annual average GDP growth has been 6% to 7%,[43] and from 2014 to 2018, India was the world's fastest growing major economy,surpassing China.[47][48] Historically, India was the largest economy in the world for most of the two millennia from the 1st until 19th century.[