India, a former British colony that has been independent for over 70 years, is currently one of the fastest-growing economies in the world. However, in 2019, the country lost its place as the world's fastest-growing economy after it grew more slowly than expected in the first half of the year. For the first time in nearly two years, India's growth rate fell behind China's. It is the world’s third-largest economy in purchasing parity terms.
Overall, in 2019, the economy of India grew at a rate of 5%.3 This growth was primarily due to strong demand for the country's goods and services, in addition to a high level of industrial activity. The country, once a supplier of British tea and cotton, now has a diversified economy with the majority of activity and growth coming from the service industry. India is expected to become a high-middle income country by 2030.
Having already lived over three-quarters of my life, I want to share my perspectives as to how I have treated life or life has treated me.
Wednesday, November 25, 2020
A Little More About India
Nehru led his ruling Congress Party from New Delhi’s Lok Sabha until his death in 1964. The nominal head of India’s republic, however, was a president, who was indirectly elected. India’s first two presidents were Hindu Brahmans, Rajendra Prasad and Sarvepalli Radhakrishnan, the latter a distinguished Sanskrit scholar who had lectured at the University of Oxford. Presidential powers were mostly ceremonial, except for brief periods of “emergency” rule, when the nation’s security was believed to be in great danger and normal constitutional procedures and civil rights were feared to be too cumbersome or threatening.
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