Evaluation of Economic Systems in India

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is likely to be the third largest economy with a GDP size of $15 trillion by 2030.The economy of India is currently the world's fourth largest in terms of real GDP (purchasing power parity) after the USA, China and Japan and the second fastest growing major economy in the world after China.

Indian Economy is a subject that includes a wide range of topics starting from the economic condition of British India, Five-year Planning after independence, economic policy, globalization policy, national income, poverty, food security, employment, infrastructure, rural development, budget, to Microeconomics and Macroeconomics.

Indian Economy is an essential part of Social Science that makes us understand the economic functioning and conditions of this country in the context of past, present, and future.

Economic systems

Any of the ways in which humankind has arranged for its material provisioning. One would think that there would be a great variety of such systems, ...

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sense of providing a social order with the goods or services it requires to ensure its own continuance and to fulfill its perceived historic mission.

Social coordination can in turn be analyzed as two distinct tasks. The first of these is the production of the goods and services needed by the social order, a task that requires the mobilization of society's resources, including its most valuable, human effort. Of nearly equal importance is the second task, the appropriate distribution of the product. (Seedistribution theory.) This distribution not only must provide for the continuance of a society's labour supply (even slaves had to be fed) but also must accord with the prevailing values ...

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