Emerging economy India: An comprehensive analysis of factors responsible and their contribution

Abstract

Production, distribution & consumption are the three pillars of Economy as well. Population of India grew tremendously at a high rate so the demand for goods and services is increasing day by day. In fact India made different kind reforms in its economic policy as per the requirement of NITI AYOG. National Institution for Transforming India (NITI), is a policy think tank of the Government of India, established with the aim to achieve Sustainable Development and to enhance cooperative federalism by fostering the involvement of State Government of India in the economic policy-making process. It provides a mechanism to formulate credible plans at the village level and aggregate these progressively at higher levels. It also has special attention to the sections of our society that may be at risk of not benefiting adequately from economic progress. It is recommended to make strategic and long term policy and programme frameworks and initiatives, and monitor their progress and their efficacy. Though the knowledge, innovation and entrepreneurial support system through a collaborative community of national and international experts, practitioners and other partners leads to develop the economy as well. NITI Aayog has slotted itself as an evaluator of the performances of the states, as it works on indexing on four fronts - water management, education, hospitals, and digital transactions.