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This book provides an overview of the future prospects and challenges of the Indian economy, the characteristics of an emerging economy, the vision of a developed India, and the Human Development Index. It also explains the characteristics, challenges, and contributions of the three major sectors—agriculture, industry, and services—to the Indian economy. New trends in agribusiness, climate change, industrial development, Micro, Small and Medium Enterprises (MSMEs), skill development, entrepreneurship, and the MUDRA scheme have also been included. The growing importance of the service sector and the interrelationship among agriculture, industry, and services have been explained to help students develop a comprehensive understanding of the Indian economy through a simple, clear, and systematic presentation.
While writing this book, special emphasis has been placed on making the subject easy to understand, clarifying economic concepts, enabling students to study each component of the syllabus systematically, and encouraging them to develop a critical perspective on contemporary changes in the Indian economy. Complex economic concepts have been presented in simple, clear, and fluent language to the extent possible. We therefore hope that this book will be useful not only to students but also to teachers of economics, researchers, and other readers interested in the study of the Indian economy.
Various reference books, reports, government publications, and available academic literature have been consulted in the preparation of this book. However, since the economy is a continuously evolving process, statistics, policies, and schemes undergo changes over time. Therefore, it is important for students to refer to updated and authentic sources whenever necessary.