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Economic Survey of India
£conomic Growth
+ nearly five decades of data finds that
India’s long-term growth process is
steady, stable, diversified and resilient.
India’s long-term economic growth has
steadily accelerated over a fifty-year
period, without any prolonged reversals.
Thus, while growth averaged 4.4 percent a
year during the 1970s and 1980s, it
accelerated to 5.5 percent during the
1990s-early 2000s, and further to 7.1
percent in the past one decade. The
acceleration of growth is evident not just
for aggregate GDP, but even more strongly
for per capita GDP. The average pace of
per capita growth was 5.5 percent a year in
the last decade. Interestingly, when
‘compared with some of the world's largest
‘emerging economies, this steady
acceleration of growth stands out as being
‘unique to India.Over the long run, India’s
‘growth has been driven by an increasing
share of investment and exports, with a
large contribution from consumption.
Growth has also been characterized by
productivity gains - both in labor
productivity as well as in total factor
productivity.
RaRRARARE
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7
“Living Standard
In our impression, India's living
environment is very poor, and of course,
there are also good living conditions in their
country, so the wealth gap in their country
is very large, which means that the
difference between lives of the rich and the
poor is very big. Especially in some slums,
the living conditions are unbelievable, and if
ne steps into them, they often have no way
to settle down.
The sanitary conditions in India are poor.
Due to its extremely high popul:
density, the spread of diseases becomes
very easy and fast. Also, the sewage can't
be handled with in time so the water quality
is unsatisfied which may help with the
spread of illness. And ordinary Indians not
only need to stand the poor sanitation, the
dense residential areas, but also need to
face the shortage of water and food and
everyday traffic jam. Apart from that, the
overuse of motors lead to serious air
pollution which threatens citizens’ lives to a
large extent.Economic Survey Of India
social situation
* India recently announced its refusal to join
NATO (North Atlantic Treaty Organization)
and insisted on its independent foreign
policy. This decision has attracted
Widespread attention from the international
‘community. The Indian government stated
that their rejection of this invitation was
due to careful consideration of China India
relations and national interests.
* As one of the largest democratic countries
in the world, India has always pursued an
independent foreign policy. The Indian
government firmly believes that
‘maintaining an independent role and
adhering to dialogue and cooperation can
improve relations with China. Despite
some border disputes and military
challenges between the two countries,
India advocates resolving these issues
through peaceful mean:
economic policy
In terms of economy, India will continue to
promote market reforms and attract foreign
investment, injecting new impetus into
economic growth. At the same time, india will
also strengthen innovation and technological
development, improve industrial
competitiveness, promote economic
diversification, and reduce dependence on
traditional industries.
In addition, India will increase investment and
reform efforts in the education system to
improve the quality and accessibility of
education. The plan will focus on vocational
education and skill training, cultivating more
high-quality talents to meet the constantly
developing labor market demand.
Accelerating economic growth and promoting
industrial upgrading are the core goals of
India's current five-year plan. In order to
achieve this goal, India plans to take a series
of measures to improve the investment
environment. Firstly, India will focus on
attracting more foreign investment, providing
better investment conditions for foreign
enterprises by improving the business
environment and reducing bureaucracy.
Secondly, India will also promote structural
reforms to better adapt to changes in the
global economic landscape.