Indian economy is set to expand at the world's fastest rate over the next 50 years to emerge as a major force globally, but it would still rank as the second worst in terms of prosperity of its citizens.
Over the 50-year period between 2011-2060, India will register an annual economic growth rate of 4.9%, as per a latest report by Paris-based international grouping of the world's leading economies, the Organisation for Economic Cooperation and Development (OECD).
India's per-person GDP (measure of well-being of a country's citizens) will also grow more than 7-fold during this period, but the country will still rank at second place from the bottom by 2060 in absolute terms, said the report.
I believe the answer is general environment.
Both of them essentially meant all the factors and conditions that affect economic situation in a nation as a whole.
This usually include things such as the legal policies that made by the government, The inflation rate that experienced, Resource availability, etc
Political socialization is the "process by which individuals learn and frequently internalize a political lens framing their perceptions of how power is arranged and how the world around them is (and should be) organized; those perceptions, in turn, shape and define individuals' definitions of who they are and how they ...
