According to the global market exchange rates, India is the 11th largest economy in the world. It is also the fourth biggest by purchasing power parity or PPP. After Independence, it was in the 1990s that saw the face of Indian economy shaping for a better future.

India has become the hub of international investment which is directly effecting the employment and labour market in the country. During the last few months, when the developed countries faced the hiccups of recession, the Indian employment market was still on a hiring spree. The financial year ending is expected to push more and more people for job changes and better opportunities.

The main reason of slow growth in the first few decades after Indian independence was due extensive regulation and extreme socio-democratic policies. Public ownership, undue protection, and resistant to change made sure that the bureaucracy did not let the international players and Indian private companies spread their operations within the country. However, since the scenario has changed now, GDP is increasing slowly but steadily to reduce the fiscal deficit of the country. At 10.4% , it is estimated to be among the top five in the world.

NEW DELHI
: Children would get the fundamental right to free and compulsory education with the passage of a bill, hailed as “historic”, by
Parliament on Tuesday.

The Right of Children to Free and Compulsory Education Bill, 2008, seeks to provide education to children aged between 6 to 14 years.

The Bill, one of the flagship programmes in the 100-day agenda of the UPA government, also earmarks 25 per cent seats to weaker sections in private schools.

While the Rajya Sabha okayed the bill earlier, the Lok Sabha putting its seal of approval on Tuesday, with HRD minister Kapil Sibal describing it as “harbinger of a new era” for children to meet the challenges of the 21st century.

He said the bill is a “historic opportunity” for providing better future to children of the country as there was never such a landmark legislation in the last 62 years since independence.

“We as a nation cannot afford our children not going to schools,” he asserted, noting that the measure details the obligations of the Centre and the states for providing free and compulsory education to children.

Source – IndiaTimes