Gdp Of India For The Last 50 Years

gross domestic product Analysis 1950-60: From the period of 1951-57 the GDP ranged between 2-6% in a domineering note. Then there was a nappy downfall from 5.58% in 1957to -0.43% in 1958. In 1958-59 there arose a severe foreign exchange crisis in India compelling the presidential term to seek foreign exchange collectable to this the agriculture field of battle was badly affected and dropped by 9% , effort and issuance field slashed by 8% and with a stripped change in the service sphere by 1%. 1961-70: thither was a fiscal deficit in the family 1966-67 delinquent to which there was a rapid fall in the GDP for consecutive two years. The GDP went into deep passing from 7.46% to -2.65%. The population was badly affected in the field of agriculture. on that register was negative impact on constancy and service cosmos as well. The GDP of industry field has shown a extensive decline in the value from 183062 crore in 1965 to 162848 crore in 1966, thereby fallin g almost 11%. Since the agriculture celestial sphere contributes the occupy part of GDP, so the impact was seen. Industry and service domain shown a exploitation rate of 4% and 3% respectively. In year 1968 there was a reform in the government policies for agriculture field which result in a product rate of 14%. GDP also reflected with a validatory trend of 7.83%.

1990-00: In 1991 there was an economic liberalization and delinquent to this economic reforms was reaffirmed by the government that came to the power. India’s primary sector accounted for 32.8% of GDP in 1991 which was because of good rainfall. The contribution of GDP of indust! ry was 27.4% and service sector contribution was 39.8%, that was the major mark for this sector. 2001-08: at that place was a persistent growth in GDP for 3 years consecutively. The growth rate was approx 9-10% approx. We can see that level best contribution to GDP is from the service sector. In 2003 agriculture sector fallen to -7.24% which was mainly due to lowest rainfall in the past 100 years. India’s economy has been one of the stars of orbicular economics in...If you want to get a full essay, fiat it on our website: OrderCustomPaper.com

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