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Growth Prospects of Indian Economy - The Current Scenario

Journal: International Journal of Management Research and Social Science (Vol.2, No. 1)

Publication Date:

Authors : ;

Page : 46-53

Keywords : Five year plans; World Economic Situation and Prospects; Foreign Direct Investment; Contract research organizations;

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The word Economic growth refer to the positive change in the level of production of goods and services by a country over a certain period of time. When the inflation is checked and controlled, the realized growth is considered as real economic growth of a nation. Economic growth is usually brought about by technological innovation and positive external forces. Therefore Economic growth refers to the Persistent increase in per capita aggregate output and in the aggregate physical per worker at a non-diminishing rate in an economy. Economic growth is also characterized by structural transformation, such as the shift from agriculture to industry and services, urbanization, the shift from home work to employee status, an increasing role of formal education, an increased role for foreign trade, decreased reliance on natural resources with technological progress, and the growing importance of government. The researcher has shown that during the current plan period among various sector Health sector plays an important role in development of the economy , its contribution towards social advantage is enormous and this sector needs still more concentration from the Government to meet the requirements of the increased population. The researcher has referred various Governmental surveys and reports to support the article and for Health aspects regarding vaccines primary information have been taken.

Last modified: 2017-12-23 01:55:25