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December 5, 2023 2184 0
As the reform process in India completes three decades, an assessment of the Indian economy reveals a mixed scenario. Growth is primarily gauged by the Gross Domestic Product (GDP).
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The post-1991 economic reforms in India during the LPG era brought about positive changes in the country’s economy. Other nations had already adopted similar policies and experienced benefits, including communist China, which embraced them as early as the 1970s. What factors do you believe hindered India from embracing a fully open and capitalistic economy, and why did the country adhere to socialist economic policies? |
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Growth of GDP and Major Sectors (in %)
Glossary
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