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Economic doldrums were a result of structural inadequacies, wars with China in 1962, with Pakistan in 1965 and 71, currency devaluation in 1966, first world oil crisis and few natural calamities.Contemporary Economy Major reforms were being made by Rajiv Gandhi in 1980s by restrictions on capacity expansion for incumbents, removal of price control and reduced co-operate taxes.
Developing counties, in contrast, appear to suffer economically from counterterrorism threats.
Read the press release | Read the article One of the most common arguments against contemporary capitalism is that it generates extreme inequalities.
More private sector initiatives were taken up during 1980s and 1990s.
1990 onward, India is enjoying constant growth in economy.
But other developments in transport and communication like introduction of railways, telegraphs and so on were made which affected the economy.
Towards the end of the colonial rule it was seen that development in the Indian Economy was hampered and it was reduced down from its glorious strong economic background.
At present, India has a modern stock exchange instead of an outdated one.
There has been a rise in the growth in many sectors.
Spices were exported to the Europe, Middle East and south East Asia in exchange of gold and silver.
The rise of the Maratha Empire after the falls of Mughals marked the decline of political stability affecting Indian economy.