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The Growth Of Gross Domestic Product
The new paradigmatic shifts, since the liberalisation process took off, after unshackling the socialistic edifice, has brought a perceptible change in the Indian economy. The growth in real Gross Domestic Product (GDP) during the last three years, i.e. during 1994-1997, ranged from 7.2% to 7.5%. The current year, 1997-98 is an exception at 5%. While growth in industry averaged 9.5% during the same period, it is down to 4.2% for the year ended 1997-98.
The trend seems to be in symphony with the overall slowdown in the Asian markets.
Over 26% of the GDP component is domina ....
Word count: 1062 - Page count: 4
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