Indian Economy has become fourth Largest economy after surpassing the economy of japan
The recent data and projections from IMF (International Monetary Fund) show India will remain the world's fastest-growing major economy with an annual growth rate of more than 6% for next two years
The IMF projected If India maintains the same pace, it is expected to overtake Germany and become the third largest economy by 2028.
The data shows the top five economies of the world are US $30.5 Trillion, China $19.2 Trillion, Germany $4.4 Trillion, India $4.19 Trillion and Japan $4.18 Trillion
But the reality is, per capita income of many Indian households is far less compare to the countries like China and Japan
It means the income inequality in India is very high. Almost 90% of the Indian population is living in poverty
Indian economy is mainly dominated by service sector which is almost 50 % of total economy which has limited potential of job opportunities
On the other hand, the share of manufacturing sector in the growth of economy is very low. It has highest potential of providing jobs for the masses
There is a need for emphasis of well distributed growth of Indian economy comprehensively