The economy of India is the fourth largest in the world, with a GDP of
$3.363 trillion at PPP, and is the tenth largest in the world, with a
GDP of $691.9 billion at 2004 USD exchange rates and has a real GDP
growth rate of 6.2% at PPP. However India's huge population results in
a relatively low per capita income ($3,100 at PPP). Services are the
major source of economic growth in India today, though two-thirds of
Indian workforce earn their livelihood directly or indirectly through
agriculture. In recent times, India has also capitalised on its large
number of highly-educated populace fluent in the English language to
become a major exporter of software services, financial services and
software engineers. For most of India's independent history, a
socialist inspired approach was adhered to, with strict government
control and regulation on private sector participation, foreign trade
and foreign direct investment. Since the early 1990s, India has
gradually opened up its markets through economic reforms by reducing
government controls on foreign trade and investment. The
socio-economic problems India faces are the burgeoning population,
growing inequality, lack of infrastructure, growing unemployment and
growing poverty.
Read the rest of this article:
http://en.wikipedia.org/wiki/Economy_of_India
_______________________________
Today's selected anniversaries:
1187:
The Siege of Jerusalem: Ayyubid forces led by Saladin captured
Jerusalem, prompting the Third Crusade.
(
http://en.wikipedia.org/wiki/Siege_of_Jerusalem_%281187%29)
1535:
French explorer Jacques Cartier sailed along the St. Lawrence River
and reached an Iroquois fort on the island now known as Montréal.
(
http://en.wikipedia.org/wiki/History_of_Montreal)
1835:
Mexican dragoons dispatched to disarm settlers at Gonzales, Texas
encountered stiff resistance from a Texian militia in the Battle of
Gonzales, the first armed engagement of the Texas Revolution.
(
http://en.wikipedia.org/wiki/Battle_of_Gonzales)
1928:
Saint Josemaría Escrivá founded Opus Dei, a worldwide organization of
lay members of the Roman Catholic Church.
(
http://en.wikipedia.org/wiki/Opus_Dei)
1950:
Peanuts, a syndicated comic strip by Charles M. Schulz, featuring
Charlie Brown and his pet beagle Snoopy, was first published in major
newspapers.
(
http://en.wikipedia.org/wiki/Peanuts)
_____________________
Wikiquote of the day:
"There is a fifth dimension beyond that which is known to man. It is a
dimension as vast as space and as timeless as infinity. It is the
middle ground between light and shadow, between science and
superstition, and it lies between the pit of man's fears and the
summit of his knowledge. This is the dimension of imagination. It is
an area which we call the Twilight Zone." -- Rod Serling in The
Twilight Zone
(
http://en.wikiquote.org/wiki/Rod_Serling)