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The debate concerned the nature and role of capital goods and a critique of the neoclassical vision of aggregate production and distribution. The question of whether the natural growth rate is exogenous, or endogenous to demand (and whether it is input growth that causes output growth, or vice versa), lies at the heart of the debate.
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 119th by GDP (PPP) . [ 58 ]
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...
The liberalisation of the Indian economy was followed by a large increase in inequality with the income share of the top 10% of the population increasing from 35% in 1991 to 57.1% in 2014. Likewise, the income share of the bottom 50% decreased from 20.1% in 1991 to 13.1% in 2014. [89]
India, in 2019 has about 2.7% [1] population under poverty level and is no longer holding the largest population under poverty level, considering Nigeria and Congo. [2] On the other hand, the Planning Commission of India uses its own criteria and has estimated that 27.5% of the population was living below the poverty line in 2004–2005, down ...
The economic crisis created a situation where India had to accept the conditions imposed by the World Bank and the IMF, which included structural reforms. As a result, the Indian economy was opened up to foreign participation in various sectors, including state-owned enterprises. This move towards liberalization was seen by some as necessary to ...
Elon Musk and Vivek Ramaswamy had few good answers Thursday for how the new “Department of Government Efficiency” (DOGE) will meet its lofty goals of slashing $2 trillion in spending during a ...
The Indian economy was expected to lose over ₹ 32,000 crore (equivalent to ₹ 380 billion or US$4.4 billion in 2023) every day during the first 21-days of complete lockdown, which was declared following the coronavirus outbreak. [6] [7] Under complete lockdown, less than a quarter of India's $2.8 trillion economic movement was functional. [8]