Compose a 1250 words assignment on indias economy. Needs to be plagiarism free! India has worked hard in adopting policies that can see it succeed in the wider market that has been brought about by globalization.
Hard work and determination of both the large population and the government has immensely promoted the growth of India’s economy. It is expected that India’s economy will grow at 5% in the financial year ending March 2014. India’s economy is likely to grow very fast and compete with the world’s largest economy. India produced most consumer goods but was controlled directly by government and financial institutions while the public dominated heavy industry, industry, and telecommunication (“Exim Bank of India” Web).
India’s is now termed as booming and this has greatly helped in the expansion of the infrastructure. Indian economy looks to be rebounding in a better shape from the economic crisis. India’s infrastructure is likely to be among the best in 2017 although it requires very heavy investments that absorb billions of dollars. India’s government has realized the need for entrepreneurship hence investing in infrastructure such as airport by using private financing. India has the largest education network in the world and is set up by the Central or state governments by means of legislation and all colleges are affiliated to some universities making more people to be educated in the population.
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India is one of the greatest and fast-growing economies have employed so many people with agriculture employing almost half of the population followed by industrial and lastly the service sector through the wages paid is not competitive. All the foreigners working in India are subject to the national tax laws and further benefit from double taxation while the country’s taxation system is said to be progressive and equitable and is designed to support responsibility and accountability. The tax system discourages tax-related crimes and promotes tax compliance that promotes economic growth.