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Economy of India

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When you are talking of Economy of India, you are talking of the fourth largest economy of the world based on Purchasing Power Parity. It is really huge in monetary terms: with a Gross Domestic product in excess of US $4282.204 billion. Compared to decades of 1970s and 1980s and early 1990s, Indian economy is growing at a rather rapid rate. For example, during the last quarter of 2006-2007, Indian economy registered a fantastic growth of around 9.2%. However, there is a catch inhibiting the real prosperity is India - India's large population. This pulls down the per capita income, and India has large sections of population at subsistence level, and at the same time a large population with income levels comparable to some of the developed countries. At the same time, all geographical regions of India are not growing at the same rate - certain areas are rapidly growing whereas some areas continue to be sluggish.

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