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In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. The Republic of India, founded in 1947, adopted central planning for most of its independent history, with extensive public ownership, regulation, red tape and trade barriers. [ 13][ 14] After the 1991 economic crisis, the central government began ...
Karnataka is one of the highest economic growth states in India with an expected GSDP (Gross State Domestic Product) growth of 9.5% in the 2021–22 fiscal year. [ 4][ 5] The total expected GSDP of Karnataka in 2022–2023 is about $240 billion. [ 5] Karnataka recorded the highest growth rates in terms of GDP and per capita GDP in the last ...
The economy of India is a developing dirigisme mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 136th by GDP (nominal) and 125th by GDP (PPP). [60]
The following table shows the annual growth in nominal GSDP for the financial years 2001–02 to 2010–11, released by the Planning Commission of India, in the Indian rupees. [ 1 ] Revised data for the past years differ from the tables below.
List of countries by GDP (nominal) Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [ 2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...
Five-Year Plans of India. From 1947 to 2017, the Indian economy was premised on the concept of planning. This was carried through the Five-Year Plans, developed, executed, and monitored by the Planning Commission (1951–2014) and the NITI Aayog (2015–2017). With the prime minister as the ex-officio chairman, the commission has a nominated ...
The economy of India accelerated and has grown at a rate of around 3–9% since economic liberalisation began in the 1990s with the exception of 2020. [ 5][ 6] Recent research has shown that India's growth rate had begun to attain higher growth since Indira Gandhi's time in 1980s due to economic reforms, with average growth rate of 5.8% in 1981 ...