India, a rapidly developing economy, finds an important place in the global forum with its seventh position in terms of nominal gross domestic product (GDP). It was classified as the fastest growing major economy in the world in the fourth quarter of 2014, replacing the People's Republic of China. It holds an important position as a newly industrialized country, a major G-20 player and third largest nation in terms of Purchasing Power Parity (PPP). As on December 2015, India's GDP stood at 2074 USD billion which constitutes 3.34% of the world economy. The annual growth rate in GDP stood at 7.1% as on June 2016. According to Fitch Ratings Agency, India's GDP is expected to grow by 7.7% in FY...