Summary:
The passage discusses the economic transformation of India over the past few decades. It highlights how India’s economy has transitioned from a socialist, controlled system to a more market-oriented, capitalist one.
The passage notes that while India’s GDP growth has improved significantly since the mid-1970s, there are still challenges such as financial stress among lower-income consumers and rising inequality. The passage also mentions the growth in India’s share market and mutual fund investments, as well as the changing political and social landscape in the country.
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1. What was the key turning point in India’s economic policy mentioned in the passage?
2. What are some of the challenges facing the Indian economy according to the passage?
3. How has the perception of India changed internationally over time?
