India: A welfare state

Indian economy is one of the fastest growing economies in the world after China. India has emerged as one of the largest foreign investors both in developed and developing world. The country has also witnessed remarkable achievement in the sphere of information technology with the emergence of various Indian software companies and their global spread. The spread of mobile telephony, satellite technology, internet and software innovations have contributed to the emerging economy as well. The exponential growth of urbanization is another notable feature in changing India. The main focus of this paper is to examine emerging challenges and opportunities for Indian agriculture and for the banking sector because agriculture is the backbone of Indian economy and banking sector is one of the fastest growing sectors of India. The paper concludes with some suggestive measures that should be taken as a part of welfare programmes. It is expected that this study would be useful for researchers and policy makers.