Indian Economy followed Socialist-inspired economy untill 1990s. Untill the Extensive regulation, public-ownership, protectionism lead to passive corruption, slow growth. This lead to the then Prime Minister P.V.NarasimhaRao and the finance minister Manmohan Singh to liberalize the economy and leading the economy to a market based system.
Indian Economical Sector is bradly divided in to 3:
1: Agricultural Sector :60% of the workforce belonged to Agricultaral Sector; Output:18% of GDP
Major Agricultural crops include rice, wheat, cotton, potato, oil seed, buffaloes, cattle, pultry, jut, tea, fish, goats, sheeps , milk etc.
2: Service Sector : 28@ of the workforce ; Output :54% of GDP
3: Industrial Sector: 12% of the workforce; Output: 28% of GDP.
Major Industrial production includes steel, machinery, textiles, chemicals, food processing, cement, mining, transporting facilities, mining, software designs, petroleum products
GDP: India's current GDP is $1+ trillion and is the 12th largest economny across the world and 4 th largest by puchasing the Power adjusted Exchange Rates.
PerCapita Income: India has reached a Percapita income of $977, which ranked 128th amongst the world.
[yet to update]
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