How our country can become rich ?
Liberalization has proceeded in fits and starts since then, mainly due to political pressures, but the economy has responded well by posting strong growth in many sectors. A 2003 report by Goldman Sachs predicted that India's economy would be the third largest by 2050.
The economy of India is the fourth largest in the world, with a GDP of $3 trillion (2007), measured on a purchasing power parity basis. The country recorded a GDP growth rate of 9.1% for the fiscal year 20072008 which makes it the second fastest big emerging economy, after China, in the world. In 2007, the nation accounted for 4.6% of the gross world product, according to the International Monetary Fund.
In fact, if economies are ranked by sheer size, China would be second only to the US and India would come in at no 4, one place be ...more