The change in India ́s economic strategy and its challenges: from the "Hindu growth rate" to accelerated development
DOI:
https://doi.org/10.22456/2178-8839.96176Keywords:
India, economic changes, Hindu growth rateAbstract
This article presents a general characterization of the Indian economy – which permeates the different development strategies of the country - and its main challenges. After obtaining the status of Nation-State in 1947, the country sought to develop itself economically through five-year plans with strong State
intervention. However, the India’s economic performance fell short of expectations and received the stigmaof the “Hindu growth rate” due to its stagnation. From the 1980s, India began to reverse this path, but soon succumbed to a strong economic crisis. In this trajectory, despite of the liberalizing reforms of the 1990s, the country has achieved its own pace, encouraging the dynamism of its economy and the results in terms of good results. Even though, the country endures a series of energy and energy challenges as well as existingdisparities in terms of inequality and employment. Thus, the article is structured by: the exposition of thedevelopment strategy “turned inside” from the just created Nation-State of India; the country’s new development strategy in the neoliberal era; and by the end are addressed the high rates of growth and some of its challenges.
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Accepted 2019-11-19
Published 2020-03-26
