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Abstract: The Indian economy has experienced a transformation from a mixed-plan economy to an emergent middle-income social market economy with strong state intervention in major industries. India has experienced very low average growth rates and significant annual swings since gaining its independence in 1947. The growth rate of India was marginally greater in the 1990s than in earlier decades, and it has since increased. Together with China, its expansion is the key engine powering the continuous expansion of the world economy. Its previous enormous boom contrasts sharply with its current modest growth of 8%. Growth rates and per capita income disparities are much higher in developing countries than in the global average. Low employment growth and the subcontracting of labour to unorganised industries are the causes of the significant decline in the share of workers in the organised sector. This type of employment growth has a small but comparatively significant impact on lowering rural poverty.This research is descriptive and has theoretical foundations. The analysis of theories and points of view in this study is organized. The compilation of secondary data involves using a variety of reports, both published and unpublished. This research article's overall goal is to assess the theoretical aspects of inequality, labour markets, economic development, and the impact of migration on poverty, patterns, and employment dynamics in India from the perspective of macroeconomic development in order to foster human growth in the context of a globalised economy. The research article raises a significant, urgent, and contemporary subject that is relevant from a social, political, and economic point of view. |
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