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India started recovery in 2013–14 when the GDP growth rate accelerated to 6.4% from the previous year's 5.5%. The acceleration continued through 2014–15 and 2015–16 with growth rates of 7.5% and 8.0% respectively. For the first time since 1990, India grew faster than China which registered 6.9% growth in 2015.
Averaging an economic growth rate of 7.5% for several years prior to 2007, [307] India has more than doubled its hourly wage rates during the first decade of the 21st century. [317] Some 431 million Indians have left poverty since 1985; India's middle classes are projected to number around 580 million by 2030. [318]
The Faculty of Law, Banaras Hindu University was ranked fifth in India by Outlook India in 2019 [237] and seventh in India by The Week. [ 236 ] The Institute of Medical Sciences, Banaras Hindu University was ranked fifth among medical colleges in India in 2022 by NIRF and second by Outlook India .
The Nepali rupee has been tied to the Indian rupee at an exchange rate of 1.6 for many years. Per capita income is $1,004. [ 212 ] The distribution of wealth among the Nepalis is consistent with that in many developed and developing countries: the highest 10% of households control 39.1% of the national wealth and the lowest 10% control only 2.6%.
Bhutan's currency is the ngultrum, whose value is fixed to the Indian rupee. The Indian rupee is also accepted as legal tender in the country. Though Bhutan's economy is one of the world's smallest, [144] it has grown rapidly in recent years, by eight per cent in 2005 and 14 per cent in 2006. In 2007, Bhutan had the second-fastest-growing ...
The U.S. unemployment rate peaked at 11.0% in October 2009, the highest rate since 1983 and roughly twice the pre-crisis rate. The average hours per work week declined to 33, the lowest level since the government began collecting the data in 1964. [34] [35] The economic crisis started in the U.S. but spread to the rest of the world. [29]