SSC CHSL typing test

The Indian economy is one of the largest in the world and it has changed a great deal since independence. In the early decades planning was carried out through five year plans that gave priority to heavy industry, irrigation and public sector enterprise. The reforms of nineteen ninety one opened the economy to private investment and foreign trade, reduced licensing controls and encouraged competition. Since then services such as information technology, banking, telecommunication and tourism have grown rapidly and now contribute the largest share of national income. Agriculture still employs a very large part of the workforce, so improving productivity, storage and market access remains a national priority. The Reserve Bank of India manages monetary policy, controls inflation and supervises the banking system, while the union budget presented every year in Parliament sets out the taxation and spending plans of the government. Goods and Services Tax created a common national market by replacing many indirect taxes with a single system. Financial inclusion, digital payments and skill development are treated as key pillars of inclusive growth.