India Economics
In terms of purchasing power, India economy is the third largest economy in the world and it is also going to touch new heights in coming years.The process of rebuilding the economy started, after India got independence from this colonial rule in 1947.
Challenges before Indian economy:
- Population explosion: In this time Population is just like monster. It monster is eating up into the success of India.Population of India in 2001 was 1,028,610,328, growing at a rate of 2.11% approx.The vast population puts lots of stress on economic infrastructure of the nation. Thus India should control its burgeoning population.
- Poverty: According to 1993-94 as per records of National Planning Commission, 36% population of the Indian was living Below Poverty Line in .
- Unemployment: Due to increasing population is pressing hard on economic resources as well as job opportunities. Some plan has started such as Jawahar Rozgar Yojna, and Self Employment Scheme for Educated Unemployed Youth (SEEUY) by the Indian government. But these are proving to be a drop in an ocean.
India's GDP rate since 1951-51
| Financial year | GDP of India at factor cost (in percent) |
| 1951-52 | 2.3 |
| 1952-53 | 2.8 |
| 1953-54 | 6.1 |
| 1954-55 | 4.2 |
| 1955-56 | 2.6 |
| 1956-57 | 5.7 |
| 1957-58 | -1.2 |
| 1958-59 | 7.6 |
| 1959-60 | 2.2 |
| 1960-61 | 7.1 |
| 1961-62 | 3.1 |
| 1962-63 | 2.1 |
| 1963-64 | 5.1 |
| 1964-65 | 7.6 |
| 1965-66 | -3.7 |
| 1966-67 | 1 |
| 1967-68 | 8.1 |
| 1968-69 | 2.6 |
| 1969-70 | 6.5 |
| 1970-71 | 5 |
| 1971-72 | 1 |
| 1972-73 | -0.3 |
| 1973-74 | 4.6 |
| 1974-75 | 1.2 |
| 1975-76 | 9 |
| 1976-77 | 1.2 |
| 1977-78 | 7.5 |
| 1978-79 | 5.5 |
| 1979-80 | -5.2 |
| 1980-81 | 7.2 |
| 1981-82 | 6 |
| 1982-83 | 3.1 |
| 1983-84 | 7.7 |
| 1984-85 | 4.3 |
| 1985-86 | 4.5 |
| 1986-87 | 4.3 |
| 1987-88 | 3.8 |
| 1988-89 | 10.5 |
| 1989-90 | 6.7 |
| 1990-91 | 5.6 |
| 1991-92 | 1.3 |
| 1992-93 | 5.1 |
| 1993-94 | 5.9 |
| 1994-95 | 7.3 |
| 1995-96 | 7.3 |
| 1996-97 | 7.8 |
| 1997-98 | 4.8 |
| 1998-99 | 6.5 |
| 1999-2000 | 6.1 |
| 2000-01 | 4.4 |
| 2001-02 | 5.8 |
| 2002-03 | 3.8 |
| 2003-04 | 8.5 |
| 2005-06 | |
| 2004-05 | 7.5 |
| 2005-06 | 9 |