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भारताच्या आर्थिक वैशिष्ट्यांच्या बाबत कोणतं वाक्य खरं आहे?
भारताच्या आर्थिक वैशिष्ट्यांच्या बाबत कोणतं वाक्य खरं आहे?
2018-2019 मध्ये भारताची GDP किती होती?
2018-2019 मध्ये भारताची GDP किती होती?
GDP वाढल्याची प्रमाणे, भारतात कोणता कृषि सेक्टर सक्रिय मोठा होतो?
GDP वाढल्याची प्रमाणे, भारतात कोणता कृषि सेक्टर सक्रिय मोठा होतो?
कोणता कारण असला, भारताच्या 'Ease of Doing Business' सुधारित केला गेला?
कोणता कारण असला, भारताच्या 'Ease of Doing Business' सुधारित केला गेला?
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'FY22' मधील 'GDP' सुसंवृद्ध कसं होतं?
'FY22' मधील 'GDP' सुसंवृद्ध कसं होतं?
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भारतात प्रमुख अर्थव्यवस्थेची किती वर्षं संवर्धित झाली आहे?
भारतात प्रमुख अर्थव्यवस्थेची किती वर्षं संवर्धित झाली आहे?
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भारतातील गरीब लोकांचा आकडा किती टक्के कमी झाला आहे?
भारतातील गरीब लोकांचा आकडा किती टक्के कमी झाला आहे?
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भारतात कित्या लोकांना रुपहोम्या करमुक्त कामकाज दिले जाते?
भारतात कित्या लोकांना रुपहोम्या करमुक्त कामकाज दिले जाते?
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'Gini संकेतक' किस्सा मोठा आहे?
'Gini संकेतक' किस्सा मोठा आहे?
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'प्रधान मंत्री आवास योजना' किस्सा सुरु केला गेला आहे?
'प्रधान मंत्री आवास योजना' किस्सा सुरु केला गेला आहे?
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Study Notes
Overview of Indian Economy
The Indian economy is one of the fastest growing economies globally, with high average annual growth rates over the past decade. It has made significant progress toward achieving its sustainable development goals, particularly in reducing extreme poverty. In this context, let's delve into an overview of India's economic performance, looking specifically at GDP growth, poverty, and inequality.
Gross Domestic Product (GDP) Growth
Over the years, India's economy has experienced robust growth, averaging around 7% per year between 2010 and 2020. This was partly due to capital investment in infrastructure projects such as roads, ports, airports, power plants, and telecommunications networks, which boosted productivity and efficiency across various sectors of the economy. Additionally, the government implemented several key structural reforms aimed at improving ease of doing business and enhancing investor confidence, further contributing to the country's impressive growth trajectory.
In recent years, however, the growth rate has slowed down, with real GDP growth declining from 8.9% in 2015-2016 to 7% in 2018-2019. While there were some recovery signs in the subsequent fiscal years, the COVID-19 pandemic had a severe impact on the Indian economy, causing GDP to contract by 7.7% in FY21. Despite the challenges posed by the pandemic, the Indian economy rebounded strongly in FY22, expanding at 8.7%.
Poverty in India
Despite the strong economic growth, poverty remains a major challenge in India, especially in rural areas where more than two-thirds of the poor live. According to World Bank data, the share of population below the international poverty line decreased significantly from 35.6% in 2005 to 24.4% in 2021. However, the absolute number of people living in poverty still stands at approximately 271 million in 2021.
The poverty rate in India has been declining steadily over the past few decades, thanks to sustained economic growth, increased employment opportunities, and various government poverty reduction programs. The government's flagship program, the National Rural Employment Guarantee Scheme (NREGS), has provided employment to millions of rural households, thereby helping to lift them out of poverty.
Inequality in India
Although India has made progress in reducing poverty, inequality remains a significant concern. The Gini coefficient, a measure of income inequality, stands at approximately 38, which is considered high compared to many other developing countries. The top 10% of the population receives 23.6% of the income, while the bottom 10% receives only 1.1%.
The primary drivers of inequality in India are the unequal distribution of economic opportunities, social differentiation, and public services. To address this issue, the government has launched several programs aimed at promoting inclusive growth and reducing inequality. These include the National Social Assistance Programme, the Pradhan Mantri Awas Yojana, and the Skill India Mission.
In conclusion, the Indian economy has shown impressive growth over the past decade, reducing poverty, and improving the overall well-being of its population. However, the country still faces significant challenges in terms of inequality, which requires sustained attention and efforts from the government and other stakeholders.
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Description
Test your knowledge about the Indian economy by taking this quiz that covers topics such as GDP growth, poverty, and inequality in India. Explore key aspects of India's economic performance and challenges faced in achieving sustainable development goals.
