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Old 26th February 2016, 02:36 PM
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Join Date: May 2012
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Default Re: Recent Economic Development in India

As per your demand here I am providing you information about the Recent Economic Development in India along with GDP, as you want.


Economic development in India;
The economic development in India followed socialist-inspired policies for most of its independent history, including state-ownership of many sectors;


India's per capita income increased at only around 1% annualized rate in the three decades after its independence.

Since the mid-1980s, India has slowly opened up its markets through economic liberalization.

After more fundamental reforms since 1991 and their renewal in the 2000s, India has progressed towards a free market economy.

In the late 2000s, India's growth reached 7.5%, which will double the average income in a decade.

Analysts say that if India pushed more fundamental market reforms, it could sustain the rate and even reach the government's 2011 target of 10%.

States have large responsibilities over their economies.

The annualised 1999–2008 growth rates for
Tamil Nadu (9.9),

Maharashtra (9.7%),

Gujarat (9.6%),

Haryana (9.1%), or

Delhi (8.9%) were significantly higher than for

Bihar (5.1%),

Uttar Pradesh (4.4%), or

Madhya Pradesh (6.5%).

India is the seventh-largest economy in the world and the third largest by purchasing power parity adjusted exchange rates (PPP).
On per capita basis, it ranks 140th in the world or 129th by PPP.

GDP growth rate;
Year Growth (real) (%)
2000 5.6

2001 6.0

2002 4.3

2003 8.3

2004 6.2

2005 8.4

2006 9.2

2007 9.0

2008 7.4

2009 7.4

2010 7.1

2011 6.8

2012 6.5

2013 5.1

2014 6.9

2015 7.3

Companies
World Rank Company
142 Reliance Industries

152 State Bank of India

183 Oil and Natural Gas Corporation

263 Tata Motors

431 NTPC

283 ICICI Bank

463 Tata Steel

349 Indian oil corporation

485 HDFC

485 TCS
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