Upsc notes : indian economy

India, as one of the world’s fastest-growing economies, has embarked on a transformative journey to achieve sustained and inclusive growth.

Introduction Inclusive growth is a critical objective for developing economies like India, where significant disparities exist in income, access to education, healthcare, and employment opportunities.

The Indian economy, one of the fastest-growing in the world, has experienced significant transformations over the past few decades.

Resource mobilization is a crucial aspect of economic development, particularly in a developing country like India.

The Sustainable Development Goals (SDGs), adopted by all United Nations Member States in 2015, represent a universal call to action to end poverty, protect the planet, and ensure peace and prosperity for all by 2030.

“Side by side with physical capital formation, human resource development has also been playing a useful role in economic development.

Demographic transition Demographic transition is a phenomenon and theory which refers to the historical shift from high birth rates and high death rates in societies with minimal technology, education (especially of women) and economic development, to low birth rates and low death rates in societies with advanced technology, education and economic development.

The development of infrastructure is a sine qua non of economic development.

Resources are generally defined as all those things available in man’s physical environment on which he depends for the satisfaction of some want or the other.

Colonialism refers to a system of political and social relations between two countries, of which one is the ruler and the other is its colony.

Ronald A Shearer stated, “The literature of social sciences is a testimony to the errors: unnecessary confusions and prolonged debates which can result from an ambiguity on the level of basic conceptualization”

Every economy needs to increase output to grow. And to produce more, more demand is required.