India has set an ambitious goal of becoming a $5 trillion economy, a vision that represents its aspirations for rapid economic expansion, global competitiveness, and improved living standards. The government has undertaken key structural reforms, policy measures, and sectoral advancements to accelerate growth, but significant challenges remain. This article critically analyzes India’s progress toward achieving…
Introduction India’s economic planning has undergone a significant transformation over the years. The Planning Commission, which played a central role in India’s economic policy framework for over six decades, was replaced by the National Institution for Transforming India (NITI Aayog) in 2015. This shift marked a strategic move towards a more decentralized, inclusive, and market-driven…
Introduction The economic reforms of 1991 marked a turning point in India’s economic history. Prior to 1991, the Indian economy was characterized by a mixed economic model with a heavy reliance on state control, licensing systems, and protectionist policies. However, due to a severe balance of payments crisis, the government was compelled to introduce a…
Introduction In the modern digital age, the rapid growth of data has led to the emergence of Big Data Analytics (BDA) as a powerful tool for decision-making. Governments across the world are leveraging big data to formulate and implement policies that are more effective, data-driven, and citizen-centric. From healthcare and education to economic planning and…
Introduction India follows a federal system of government, where financial relations between the Centre and States play a crucial role in maintaining a balance of power and resources. The financial distribution framework is primarily governed by the Constitution of India, which lays out provisions for taxation, grants, and revenue sharing. Given the diverse economic conditions…