evaluating India's Budget Deficit and Growth in Economy Since 1991

<p>Transitioning from a mixed planned economy to a mixed middle-</p><p>income emerging social market economy with considerable</p><p>state engagement in important sectors and suggestive planning</p><p>describes the current situation of the economy in India.[48] By</p><p>nominal GDP it is the (fth largest economy in the world and by</p><p>purchasing power parity )PPPA it is the third largest economy in</p><p>the world. Mccording to the (ndings of the International Fonetary</p><p>1und )IF1A India placed 392th by GDP )nominalA and 37Sth by</p><p>GDP )PPPA on the basis of its position in terms of its per capita inc</p><p>ome.[42] 'ince the countryzs independence in 324S successive governments</p><p>have adhered to the 'oviet model and pushed protectionist</p><p>economic policies. These policies include substantial sovietiLation</p><p>state involvement bureaucratically driven industries and economic</p><p>control.</p>