News Snapshot:
The economic growth of India is often compared with its blow hot-blow cold neighbour China. In 1960, the GDP of the Indian economy at $148 billion was way ahead of Chinese GDP at $128 billion. Instructively, India stayed ahead of China till 1977, and it was only in 1978, the year China opened to the world, that its GDP at $296.6 billion inched ahead of Indian GDP at $296.3 billion. But China-India or ‘Chindia’ comparison ended there. The next four decades have belonged to China. It catapulted from subsistence-level agriculture economy to manufacturing- and export-led behemoth. Its metamorphosis from $296.6...
