The Growth of Indian Economy
The Indian economy has changed significantly from the time the country secured independence. Currently, the country’s economy is said to be the 12th largest in the world. This rank has been assessed on the basis of market exchange rates. When it comes to purchasing power parity or PPP, the country is believed to be 4th largest in the world.
During the early years of growth, the country had adopted social democratic economic policies that allowed the introduction and successful implementations of Five Year Plans. From 1991, a new liberalization policy was adopted to keep a pace with the fluctuating market trends. It was only due to this policy that country was able to climb up the economic ladder and be among the ranks of some of the successful economies in the world.
During this entire development period, the economy had a positive impact on the life of people. From leaving the boundaries of agriculture as a profession to learning new skills to support the wave of industrialization in the country, the job market has significantly changed. There have been several social, political, and economic transformations that have shaped the present of India. A complete summary of all these key factors has been documented in Akhilesh Tilotia’s book — The Making of India.
This book is believed to trace the growth and distribution of India’s demographic dividend. It summarizes the various transitions that are taking place in the economy and its impact on the job market and future of Indian economy. It also forecasts the forces that are supposed to shape the employment market in India, and picturizes the current scenario in its cities, industries, and villages where agriculture is still the primary occupation. This scenario is then compared with the rest of the world, thus heralding opportunities and challenges that Indians will face.
There are several such books that give the brief summary of the Indian economy. There is a lot to know than the mere facts expressed in financial papers that describe the growth.