Vol. 2, Issue 5, Part F (2016)

Abstract
India, a land of rich culture, is the second most populous country of the world. And area wise, it is the seventh largest nation. At present India’s position is one of the poor country with large population, low per capita income, high corruption, low quality of life, low productivity but within of potential that has just entered the path of high growth rate. India ranks poorly in terms of Economic Freedom Index, Competitiveness, Corruption, and Human Development Index. India is the 11th largest economy in terms of nominal GDP with the US, Japan, Germany, U.K. France and China ranked 1st to 6th. In terms of GDP based on Purchasing Power Parity (PPP), India is the 4th largest after US, China and Japan. US nominal GDP is 20 times that of India ^[1].