Basic Economy + Share market Etc.

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? Basic Economy – Read in hindi?

basic economy

The Indian economy is a developing middle income market economy. It is the fifth largest economy in the world by nominal GDP and the third largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), based on per capita income, India was ranked 142nd by GDP (nominal) and 128th by GDP (PPP). From independence in 1947 to 1991, successive governments have promoted protectionist economic policies, with extensive state intervention and economic regulation.

This is characterized as dirigisme, in the form of License Raj. The end of the Cold War and an acute balance of payments crisis in 1991 led to the adoption of broad economic liberalization in India. Since the beginning of the 21st century, the average annual GDP growth has been 6% -7%, and from 2013 to 2018 India was the largest fastest growing economy in the world, surpassing China. Historically, India was the largest economy in the world for most of the two millennia from the 1st century to the 19th century. [ref]