Eco Development in India
The economic development in India pursued socialist-inspired policies for most of its independent history, including state-ownership of many sectors; extensive regulation and red tape famous as “Licence Raj”; and isolation from the world economy. India’s per capita income heightened at only around 1% annualized rate in the three decades after Independence.
The economic growth has been ambitious by the discussion of services that have been developing systematically faster than other sectors. It is indicated that the pattern of Indian development has been a specific one and that the country may be able to hop the intermediate industrialization-led phase in the transformation of its economic structure. Difficult concerns have been erected about the jobless nature of the economic growth. The progress of economic reforms in India is followed closely.