India’s hunger for a promising economic growth rate since independence

Growth rate of India before the economic liberalisation was slow and was referred to as the “Hindu rate of growth”. With economic reforms in the 1990’s, the Indian economy not only allowed foreign investment but also shifted its approach from Socialist to Capitalist or market based approach. The growth rate has since accelerated, however India is way behind in terms of development index. Furthermore, climate change and environmental concerns have become a major concern for the world. As a result it will be a major challenge for India to balance between higher growth and the environment.

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