Thursday, October 8, 2009
Economy Of India
The economy of India is the twelfth largest economy in the world by market exchange rates[5] and the fourth largest by purchasing power parity (PPP) basis.[6]
India was under social democratic-based policies from 1947 to 1991. The economy was characterised by extensive regulation, protectionism, and public ownership, leading topervasive corruption and slow growth.[7][8][9][10] Since 1991, continuing economic liberalisation has moved the economy towards a market-based system.[8][9] A revival of economic reforms and better economic policy in 2000s accelerated India's economic growth rate. By 2009, India had prominently established itself as the world's second-fastest growing major economy.[
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