India s Development And Growth Essay - 1519 Words

Background: India is one of the most popular countries in the world. Geographically, India is located at the south of the Asian continent. India’s development and growth has been one of the most significant accomplishments in recent times. India neighboring countries include Pakistan, Nepal, Bangladesh, Sri Lanka, Myanmar, and Bhutan. The size of the population in India is 1,266,883,598 and the Territorial size of the country is 3, 287, 263 sq. km (The World Factbook, 2016). The prime minister of India is known as Narendra Modi who is the leader of the majority party in Lok Sabha and is currently the head of the Council of ministers in India. India’s political party that is in power right now is Bharatiya Janata Party. The Bharatiya Janata Party, was first founded by Shyama Mukherjee in 1953 with the main purpose of safeguarding the Hindu interests in India (The World Factbook, 2016). India is becoming more of an open market economy. While most emerging nations were have struggled mightily against the strong U.S. dollar and falling commodity prices, India continues to lead. The view for India’s long-term growth is positive due to the staggering young population and corresponding low dependency ratio (World Factbook, 2016). For example healthy savings, investment rates, and increasing integration play a role in the global economy. India being the 4th largest economy in the world, India has bought about a landmark agricultural revoluti on that has changed the countryShow MoreRelatedIndia s Economic Growth Rate And Economic Development832 Words   |  4 Pagesopen market source. India has recorded a growth rate of 7.4%, an increase from its previous value of 7.0%. The economic performance can be augmented through its policies, in specific monetary policy. Interest rates were cut to 6.75%. This reduction meant that borrowing and lending money was cheaper, having a positive effect on the disposable income of individuals. India’s Real GDP is 7.4%, considerably higher than the rest of the world (2.8% and 2.9%). This comparison of growth depicts India’s acceleratedRead MoreEssay on India China Economic Growth893 Words   |  4 PagesCATALYSTS TO GROWTH IN CHINA AND INDIA. India with about 1.2 million populations and china with about 1.3 billon population are two big demographic and emerging countries in the world .Over a past few decade Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011 ¬).India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s total GDP (gross Domestic Product) growth was 5.5% inRead MoreSolutions and strategy to overcome challenges in development of India990 Words   |  4 Pagesï » ¿Issues and Challenges in Development of India India as a Nation faces most of the issues this modern world has faced. It has the issues of the developed nations like the USA and other European countries and at the same time problems faced by the developing and underdeveloped countries in Africa and Asian continent. At the same time with a diverse population in diverse geographical setting with large number of social and religious issues, India faces issues of its own with unique kind of attentionRead MoreEconomic Growth Of Indi India1720 Words   |  7 PagesWilliam May 12, 2016 Economic growth of India India is one of the fastest economic growth countries in the world; it is also one of the world’s top ten economics. According to the global purchasing power parity data from the IMF, India is the third largest economy country of the world. As the US dollar to be the monetary unit, India is the seventh largest economy with high speed increase rate. Therefore, many economists forecasting that until 2050, India will become the No.3 largest economyRead MoreSustainable Growth and Economic Development1094 Words   |  5 PagesEconomic growth has been used with other terms such as development, modernization, westernization and industrialization. It is, in other words, a transition from a simple, low-income economy to a modern, high- income economy. Its scope includes the process and policies by which a nation improves the economic, political, and social well-being of its people. Though it is often measured by rate of change of gross domestic product, it is generally understo od in terms of increase in per capita incomeRead MoreThe Long Term Economic Growth1290 Words   |  6 Pages As a product of colonization, the limited industrial development in the colonized area is a global issue. Because the widening gap between the rich and the poor between developing and developed countries, is the root reason of most of the contradictions and conflicts between countries in the contemporary world. And different level of industrialization caused the widening gap. So we can say the limited industrial development caused by colonialism is a real issue behind many current contradictionsRead MoreAsian Tigers Essay1057 Words   |  5 Pagesparticular India and China.   The Asian Tigers are a group of countries which are the first set of NIC s; Taiwan, Singapore, Hong Kong and South Korea. They underwent rapid development in the 1960 s by encouraging TNC s to invest by opening up manufacturing plants by offering cheap labour and less strict pollution laws. TNC s also had the advantage of low cost and high availability of raw materials and land. Low trading tariffs and geographical locations are close by/accessible to TNC s, resultingRead MoreEconomics Assessment : Poverty And Inequity Case Study1342 Words   |  6 Pagesand means of promoting economic and human development (strategies/polices that have been used to achieve change) How successful have these policies been? per capita income is national income/population.So the 1st and foremost reason is over population. The national income of India is progressing at a slow rate.This is because of 1.Defect in planning 2.Non development of industrial sector. 3.Lack of technological progress. The per capita income of India is lower than the percapita income of someRead MoreWomen Entrepreneurs : An Overview About Growth And Various Problems Faced By Them1335 Words   |  6 PagesWomen Entrepreneur In India-An Overview About Growth And Various Problems faced by them. ABSTRACT: Over the last few decades there has been a slow but steady change taking place with respect to the growth of women. Now a days Women s are actively participate in employment sector and its leads to set up their own enterprise and they become a job providers. Women entrepreneur is a person who accepts a difficult role and ready to faces day to day problems to meet her personal and economicalRead MoreIs India’s Inclusive Growth a ‘Chimera’ ? Essay646 Words   |  3 Pages â€Å"The strategy of inclusive growth pursued by the Congress-led United Progressive Alliance (UPA) has helped mitigate the widening social and economic disparities brought about by rapid economic growth.† – Dr. Manmohan Singh on ‘Inclusive growth’. ‘India shining’ has been the political slogan for India since the turn of the new millennium, and rapid economic growth over the last decade enunciated the saga of India rising. However, our â€Å"tryst with destiny† has been a mysterious journey of