Economy

• USA is the largest importer of Indian textiles.

• Jawaharlal Nehru introduced the concept of Five year plans.

• India get its largest part of national income from services sector.

• Textile industry in India employed large number of workers.

• India have highest volume of trade with China.

• In economic, Moral Hazard is a tendency to be more willing to take a risk, knowing that the potential costs or burdens of taking such risk will be borne, in whole or in part, by others. A moral hazard may occur where the actions of one party may change to the detriment of another after a financial transaction has taken place.