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Indian Economy and Development

-- Subhana Naseer,VIII – C,Indian Learners Own Academy, Kuwait

Over the past few years the Indian government has taken a lot of steps for the poor and needy people. Indian economy is the 6th largest economy in the world with rupee as its currency.

India produces almost 9.4 trillion dollar in manufacturing goods and services. The growth rate of poverty line has reduced it is because all the jobless people got job because the honorable Prime Minister Narendra Modi whom the India elected as the PM on May 16 2014 promised to reduce bureaucracy and regulation.

The PM also promised to boost the trading system with the United States. Indian economy is a mixed economy as half of the Indians depend on agriculture for meeting their needs.

India has a fast growing population of young people who are working. There are nearly 700 million Indians working under the age of 30.India has a highly advanced economy and business that attract people to set up industries in India. India lacks in investing capital. There are a lot of people who are low skilled and work in small business to feed their family.

There is a very low national saving policy since large part of India are corrupted and are not willing to help weaker minorities of society. But our beloved prime minister has done his very best improve to infrastructure of the Indian economy. India has become one of the fastest growing service sectors in the world. The IT capital of India Bengaluru, continues to be the largest private sector employment in India. India is the fourth largest civil aviation market in the world .

India is the fourth largest civil aviation market in the world the GDP of India is estimated to have increased by 6.6% in the year 2017-18 and is expected to grow more. The exports from India have increased almost 15% for the United States. India has ranked 11th in the global FDI index in the year 2018 making it second largest emerging market. Rural development in village areas is majorly concerned with the proper utilisation of land resources. Around97% children have enrolled for admission in school because of development in rural areas.

The government has made development in small scale industries independent and confident; they can now sell the product even outside of the state. The major problem in India was electricity but in the past 10 years, the Indian government is trying its best to provide 24/7 electricity. Media has become one of the ways to entertain and engage ourselves by knowing what is happening around the world, it is only possible through electricity.

The next name development is tourism. India has a rich history and cultural diversity, and attracts foreigners to come and visit India. The Indian government took an oath to keep the monuments clean, so it attracts more visitors. Infrastructure of any countries boosts its pride. India has been witnessing continuous changes, some of which are:

• Mumbai's Eastern Freeway (second largest flyover in India)
• Double Decker train in Gujarat
• Improve air quality at Indore's BRTS
• Modernization of airports

There has been a drastic change in the education facility in India. This is because of increased investment and various and different types of institutes all over India. The literacy rate of people in India is 74% as recorded in the year 2011. India is known as the third country after USA and China in the field of education.

Hence, economy and development of India has helped a lot of Indians to live a peaceful and a respectful life and we hope it will continue to do so till the end.



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