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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 125th by GDP (PPP). [58]
The economy of the Anuradhapura kingdom was based mainly on agriculture. [72] The main agricultural product was rice , the cultivation of which was supported by an intricate irrigation network. Rice cultivation began around the Malvatu Oya , Deduru Oya and Mahaweli Ganga and spread throughout the country. [ 78 ]
India is the largest economy in the region (US$4.11 trillion) and makes up almost 80% of the South Asian economy; it is the world's 5th largest economy in nominal terms and the world's 3rd largest economy by purchasing power adjusted exchange rates (US$14.26 trillion). [28] India is the member of G-20 major economies and BRICS from the region ...
Moosvi estimates that Mughal India also had a per-capita income 1.24% higher in the late 16th century than British India had in the early 20th century, and the secondary sector contributed a higher percentage to the economy of the Mughal Empire (18.2%) than it did to the economy of early 20th-century British India (11.2%). [19]
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
India did not attract immigrants who brought labour and capital for economic growth. India paid for Britain's civil administrations in India and her Indian army. India bore the burden of empire building in and out of its borders. Opening the country to free trade allowed for foreigners to take highly paid jobs over those of equally qualified ...
This is a timeline of Sri Lankan history, comprising important & territorial changes and political & economic events in Sri Lanka and its predecessor states. To read about the background to these events, see History of Sri Lanka.
As the national struggle intensified, the Government of India conceded some of the economic demands of the nationalists, including the establishment of a central bank. [16] Accordingly, the Reserve Bank of India Act was passed in 1934 and a central bank came into being on April 1, 1935, with Sir Osborne Smith as its first Governor. [16]