South Asia refers to the Indian subcontinent, which stretches from the Himalayas to the Indian Ocean. India, the second-largest country in the world by population, is the dominant state here, with Pakistan in the west, Bangladesh in the east, Nepal and Bhutan in the Himalaya mountains and Sri Lanka to the south. Due to higher fertility rates, India’s population will soon surpass China’s.
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New Opportunities 2021: India plans reforms shielded by robust economic growth
India will rely on targeted supply-side spending to help resurrect the country’s Covid-battered growth. Narendra Modi’s government also hopes to implement critical but long-delayed structural reforms that could become possible if economic recovery is as strong as expected. The plan hinges on a stretch goal: exceeding 14 percent nominal GDP growth rate in the upcoming fiscal year.