Gdp Of India For The Last 50 Years

gross domestic product Analysis 1950-60: From the period of 1951-57 the GDP ranged between 2-6% in a domineering note. Then there was a crafty downfall from 5.58% in 1957to -0.43% in 1958. In 1958-59 there arose a severe foreign exchange crisis in India compelling the government to seek foreign exchange collectable to this the agriculture rotate was badly affected and dropped by 9% , effort and matter field slashed by 8% and with a stripped change in the service sphere by 1%. 1961-70: thither was a fiscal deficit in the family 1966-67 referable to which there was a rapid fall in the GDP for consecutive two years. The GDP went into deep passing from 7.46% to -2.65%. The rural area was badly affected in the field of agriculture. on that shoot for was negative impact on perseverance and service commonwealth as well. The GDP of industry field has shown a capital decline in the value from 183062 crore in 1965 to 162848 crore in 1966, thereby falling almost 1 1%. Since the agriculture celestial sphere contributes the lead part of GDP, so the impact was seen. Industry and service firmament shown a exploitation rate of 4% and 3% respectively. In year 1968 there was a reform in the regimen policies for agriculture sector which result in a branch rate of 14%. GDP also reflected with a tyrannical trend of 7.83%.

1990-00: In 1991 there was an economic liberalization and collectable to this economic reforms was reaffirmed by the government that came to the power. India’s primary sector accounted for 32.8% of GDP in 1991 which was because of good rainfall. The contribution of GDP of industry was 27.4! % and service sector contribution was 39.8%, that was the major mark for this sector. 2001-08: in that location was a persistent growth in GDP for 3 years consecutively. The growth rate was approx 9-10% approx. We can see that upper limit contribution to GDP is from the service sector. In 2003 agriculture sector fallen to -7.24% which was mainly due to lowest rainfall in the past 100 years. India’s economy has been one of the stars of orbicular economics in...If you want to get a full essay, parliamentary procedure it on our website: OrderCustomPaper.com

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