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Encyclopedia > Economy of India
Economy of India
Currency 1 Indian Rupee (INR) (₨) = 100 Paise
Fiscal year April 1March 31
Trade organisations WTO, SAFTA
Statistics
GDP (PPP) $5.21 trillion (PPP) (2008 est.) (3rd)
GDP growth 9.6% (2006/07)
GDP per capita $1,089 (nominal); $4,543 (PPP) [2]
GDP by sector agriculture: 19.9%, industry: 19.3%, services: 60.7% (2006 est.)
Inflation (CPI) 3.5% (2008 est.)
Population
below poverty line
25% (2002 est.) [3]
Labour force 509.3 million (2006 est.)
Labour force
by occupation
agriculture: 60%, industry: 12%, services: 28% (2003)
Unemployment 7.8% (2006 est.)
Main industries textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, services
External
Exports $125 billion (Financial Year 2006-2007)
Export goods textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures, services
Main export partners US 18%, the People's Republic of China 8.9%, UAE 8.4%, UK 4.7%, Hong Kong 4.2% (2005)
Imports $187.9 billion f.o.b. (2006 est.)
Import goods crude oil, machinery, gems, fertilizer, chemicals
Main import partners the People's Republic of China 7.2%, US 6.4%, Belgium 5.1%, Singapore 4.7%, Australia 4.2%, Germany 4.2%, UK 4.1% (2005)
Public finances
Public debt $132.1 billion (2006 est.)
Revenues $109.4 billion (2006 est.)
Expenses $143.8 billion; including capital expenditures of $15 billion (2006 est.)
Economic aid recipient: $2.9 billion (FY98/99)
Main data source: CIA World Factbook
All values, unless otherwise stated, are in US dollars
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The economy of India, measured in USD exchange-rate terms, is the twelfth largest in the world, with a GDP of US $1.50 trillion (2008).[1] It has a GDP growth rate of 9.4% for the fiscal year 2006–2007.[2] However, India's huge population has a per capita income of $4,542 at PPP and $1,089 in nominal terms (revised 2007 estimate).[3][4] The World Bank classifies India as a low-income economy.[5][6] “INR” redirects here. ... A Paisa (pl. ... is the 91st day of the year (92nd in leap years) in the Gregorian calendar. ... is the 90th day of the year (91st in leap years) in the Gregorian calendar. ... For other uses of the initials WTO, see WTO (disambiguation). ... The South Asia Free Trade Agreement is an agreement reached at the 12th South Asian Association for Regional Cooperation (SAARC) summit at Islamabad, capital of Pakistan on 6 January 2004. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... PPP of GDP for the countries of the world (2003). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... UAE redirects here. ... USD redirects here. ... USD redirects here. ... In finance, the exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. ... World map of GDP (Nominal and PPP). ... It has been suggested that this article or section be merged with Demographics of India. ... Look up Per capita in Wiktionary, the free dictionary. ... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ...


India's economy is diverse, encompassing agriculture, handicrafts, textile, manufacturing, and a multitude of services. Although two-thirds of the Indian workforce still earn their livelihood directly or indirectly through agriculture, services are a growing sector and play an increasingly important role of India's economy. The advent of the digital age, and the large number of young and educated populace fluent in English, is gradually transforming India as an important 'back office' destination for global outsourcing of customer services and technical support. India is a major exporter of highly-skilled workers in software and financial services, and software engineering. Other sectors like manufacturing, pharmaceuticals, biotechnology, nanotechnology, telecommunication, shipbuilding, aviation , tourism and retailing are showing strong potentials with higher growth rates. Outsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company. ... Customer service (also known as Client Service) is the provision of service to customers before, during and after a purchase. ... Software engineering is the application of a systematic, disciplined, quantifiable approach to the development, operation, and maintenance of software. ... Manufacturing (from Latin manu factura, making by hand) is the use of tools and labor to make things for use or sale. ... Pharmacology (in Greek: pharmacon is drug, and logos is science) is the study of how chemical substances interfere with living systems. ... Insulin crystals Biotechnology is technology based on biology, especially when used in agriculture, food science, and medicine. ... Nanotechnology refers to a field of applied science and technology whose theme is the control of matter on the atomic and molecular scale, generally 100 nanometers or smaller, and the fabrication of devices that lie within that size range. ... Copy of the original phone of Alexander Graham Bell at the Musée des Arts et Métiers in Paris Telecommunication is the assisted transmission of signals over a distance for the purpose of communication. ... Men from Francisco de Orellanas expedition building a small brigantine, the San Pedro, to be used in the search for food Shipbuilding is the construction of ships. ... Aviation encompasses all the activities relating to airborne devices created by human ingenuity, generally known as aircraft. ... Tourist redirects here. ... Retail redirects here. ...


India followed a socialist-inspired approach for most of its independent history, with strict government control over private sector participation, foreign trade, and foreign direct investment. However, since the early 1990s, India has gradually opened up its markets through economic reforms by reducing government controls on foreign trade and investment. The privatisation of publicly owned industries and the opening up of certain sectors to private and foreign interests has proceeded slowly amid political debate. Socialism is a social and economic system (or the political philosophy advocating such a system) in which the economic means of production are owned and controlled collectively by the people. ... The private sector of a nations economy consists of all that is outside the state. ... International trade is defined as trade between two or more partners from different countries (an exporter and an importer). ... This article is about economics. ... In general, liberalization refers to a relaxation of previous government restrictions, usually in areas of social or economic policy. ... Privatization (sometimes privatisation, denationalization, or — especially in India — disinvestment) is the process of transferring property, from public ownership to private ownership. ...


India faces a fast-growing population and the challenge of reducing economic and social inequality. Poverty remains a serious problem, although it has declined significantly since independence. Official surveys estimated that in the year 2004-2005, 27% of Indians were poor. Differences in national income equality around the world as measured by the national Gini coefficient. ... A boy from Jakarta, Indonesia shows his find. ...

Contents

History

India's economic history can be broadly divided into three eras, beginning with the pre-colonial period lasting up to the 17th century. The advent of British colonisation started the colonial period in the 17th century, which ended with independence in 1947. The third period stretches from independence in 1947 until now. Economic history of India, in the sense of the meaning of the term economic in its current sense, is at least 5,000 years old. ... // 5 BC Silver punch-marked coins were minted by the Mahajanapadas 1 Indias economy had a 32. ...


Pre-colonial

The citizens of the Indus Valley civilisation, a permanent and predominantly urban settlement that flourished between 2800 BC and 1800 BC, practised agriculture, domesticated animals, used uniform weights and measures, made tools and weapons, and traded with other cities. Evidence of well planned streets, a drainage system and water supply reveals their knowledge of urban planning, which included the world's first urban sanitation systems and the existence of a form of municipal government.[7] The Indus Valley Civilization existed along the Indus River and the Vedic Sarasvati River in present-day Pakistan. ... Urban planning is concerned with the ordering and design of settlements, from the smallest towns to the worlds largest cities. ... E. Coli bacteria under magnification Sanitation is the hygienic disposal or recycling of waste, as well as the policy and practice of protecting health through hygienic measures. ... It has been suggested that this article or section be merged into Local government of the United States. ...

Silver coin minted during the reign of the Gupta king Kumara Gupta I (AD 414–55)
Silver coin minted during the reign of the Gupta king Kumara Gupta I (AD 414–55)

The 1872 census revealed that 99.3% of the population of the region constituting present-day India resided in villages,[8] whose economies were largely isolated and self-sustaining, with agriculture the predominant occupation. This satisfied the food requirements of the village and provided raw materials for hand-based industries, such as textiles, food processing and crafts. Although many kingdoms and rulers issued coins, barter was prevalent. Villages paid a portion of their agricultural produce as revenue to the rulers, while its craftsmen received a part of the crops at harvest time for their services.[9] Coin of the Gupta king Kumara Gupta I. Obv: Bust of King Kumaragupta with headband decorated with crescents. ... Coin of the Gupta king Kumara Gupta I. Obv: Bust of King Kumaragupta with headband decorated with crescents. ... The Gupta dynasty ruled the Gupta Empire of India, from around 320 to 550. ... The introduction to this article provides insufficient context for those unfamiliar with the subject matter. ... For other uses, see Textile (disambiguation). ... Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. ... Arts and crafts comprise a whole host of activities and hobbies that are related to making things with ones own hands and skill. ... A 19th-centure example of barter: A sample labor for labor note for the Cincinnati Time Store. ...


Religion, especially Hinduism, and the caste and the joint family systems, played an influential role in shaping economic activities.[10] The caste system functioned much like medieval European guilds, ensuring the division of labour, providing for the training of apprentices and, in some cases, allowing manufacturers to achieve narrow specialization. For instance, in certain regions, producing each variety of cloth was the speciality of a particular sub-caste. Hinduism is a religious tradition[1] that originated in the Indian subcontinent. ... Caste systems are traditional, hereditary systems of social classification, that evolved due to the enormous diversity in India (where all three primary races met, not by forced slavery but by immigration). ... Complex Family is a generic term for any family structure involving more than two adults. ... A guild is an association of persons of the same trade or pursuits, formed to protect mutual interests and maintain standards of morality or conduct. ... Division of labour is the specialisation of cooperative labour in specific, circumscribed tasks and roles, intended to increase efficiency of output. ...

Estimates of the per capita income of India (1857–1900) as per 1948–49 prices.
Estimates of the per capita income of India (1857–1900) as per 1948–49 prices.[11]

Textiles such as muslin, Calicos, shawls, and agricultural products such as pepper, cinnamon, opium and indigo were exported to Europe, the Middle East and South East Asia in return for gold and silver.[12] Image File history File links Download high resolution version (1010x501, 104 KB) Precolonial National Income of India (1857-1900). ... Image File history File links Download high resolution version (1010x501, 104 KB) Precolonial National Income of India (1857-1900). ... Muslin is a type of finely-woven cotton fabric, introduced to Europe from the Middle East in the 17th century. ... Calico is a textile made from unbleached, and often not fully processed, cotton. ... The examples and perspective in this article or section may not represent a worldwide view. ... Binomial name L.[1] Black pepper (Piper nigrum) is a flowering vine in the family Piperaceae, cultivated for its fruit, which is usually dried and used as a spice and seasoning. ... Binomial name J.Presl Cassia (Chinese cinnamon) is also commonly called (and sometimes sold as) cinnamon. ... This article is about the drug. ... Indigo is the color on the spectrum between about 450 and 420 nm in wavelength, placing it between blue and violet. ...


Assessment of India's pre-colonial economy is mostly qualitative, owing to the lack of quantitative information. One estimate puts the revenue of Akbar's Mughal Empire in 1600 at £17.5 million, in contrast with the total revenue of Great Britain in 1800, which totalled £16 million.[13] India, by the time of the arrival of the British, was a largely traditional agrarian economy with a dominant subsistence sector dependent on primitive technology. It existed alongside a competitively developed network of commerce, manufacturing and credit. After the fall of the Mughals, India was administered by Maratha Empire. The maratha empire's budget in 1740s, at its peak, was Rs. 100 million. After the loss at Panipat, the maratha empire disintegrated into confederate states of Gwalior, Baroda, Indore, Jhansi, Nagpur, Pune and Kolhapur. Gwalior state had a budget of Rs. 30M. However, at this time, British East India company entered the Indian political theatre. Until, 1857, when India was firmly under the British crown, the country remained in a state of political instability due to internecine wars and conflicts.[14] This article needs additional references or sources for verification. ... Mughal Empire at its greatest extent in 1700 Capital Lahore, Delhi, Agra , Kabul, Lucknow and Bhopal Language(s) Persian (initially also Chagatai; later also Urdu) Government Absolute Monarchy , Unitary Government with a federal structure Emperor  - 1526-1530 Babur  - 1530–1539 and after restoration 1555–1556 Humayun  - 1556–1605 Akbar  - 1605... For details of notes and coins, see British coinage and British banknotes. ... Mughal Empire at its greatest extent in 1700 Capital Lahore, Delhi, Agra , Kabul, Lucknow and Bhopal Language(s) Persian (initially also Chagatai; later also Urdu) Government Absolute Monarchy , Unitary Government with a federal structure Emperor  - 1526-1530 Babur  - 1530–1539 and after restoration 1555–1556 Humayun  - 1556–1605 Akbar  - 1605... Flag of the Maratha Empire Extent of the Maratha Empire ca. ...


Colonial

Colonial rule brought a major change in the taxation environment from revenue taxes to property taxes resulting in mass impoverishment and destitution of the great majority of farmers. It also created an institutional environment that, on paper, guaranteed property rights among the colonizers, encouraged free trade, and created a single currency with fixed exchange rates, standardized weights and measures, capital markets, a well developed system of railways and telegraphs, a civil service that aimed to be free from political interference, and a common-law, adversarial legal system.[15] India's colonisation by the British coincided with major changes in the world economy—industrialisation, and significant growth in production and trade. However, at the end of colonial rule, India inherited an economy that was one of the poorest in the developing world,[16] with industrial development stalled, agriculture unable to feed a rapidly growing population, one of the world's lowest life expectancies, and low rates of literacy. It has been suggested that European colonies in India be merged into this article or section. ... This page deals with property as ownership rights. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency (most often the US Dollar), to a basket of other currencies, or to another measure of value... The capital market is the market for securities, where companies and the government can raise long-term funds. ... Telegraphy (from the Greek words tele = far away and grapho = write) is the long distance transmission of written messages without physical transport of letters, originally over wire. ... This article is about the measure of remaining life. ... Literacy is the ability to use text to communicate across space and time. ...


An estimate by Cambridge University historian Angus Maddison reveals that India's share of the world income fell from 22.6% in 1700, comparable to Europe's share of 23.3%, to a low of 3.8% in 1952.[17] While Indian leaders during the Independence struggle, and left-nationalist economic historians have blamed colonial rule for the dismal state of India's economy in its aftermath, a broader macroeconomic view of India during this period reveals that there were sectors of growth and decline, resulting from changes brought about by colonialism and a world that was moving towards industrialisation and economic integration.[18][19] The University of Cambridge is the second-oldest university in the English-speaking world, with one of the most selective sets of entry requirements in the United Kingdom. ... Economic history is the study of how economic phenomena evolved in the past. ... Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ... Economic integration is a term used to describe how different aspects between economies are integrated. ...


Independence to 1991

Growth rate of India's real GDP per capita (Constant Prices: Chain series) (1950–2006). Data Source: Penn World tables.
Growth rate of India's real GDP per capita (Constant Prices: Chain series) (1950–2006). Data Source: Penn World tables.

Indian economic policy after independence was influenced by the colonial experience (which was seen by Indian leaders as exploitative in nature) and by those leaders' exposure to Fabian socialism. Policy tended towards protectionism, with a strong emphasis on import substitution, industrialization, state intervention in labour and financial markets, a large public sector, business regulation, and central planning.[20] Jawaharlal Nehru, the first prime minister, along with the statistician Prasanta Chandra Mahalanobis, carried on by Indira Gandhi formulated and oversaw economic policy. They expected favourable outcomes from this strategy, because it involved both public and private sectors and was based on direct and indirect state intervention, rather than the more extreme Soviet-style central command system.[21] The policy of concentrating simultaneously on capital- and technology-intensive heavy industry and subsidising manual, low-skill cottage industries was criticized by economist Milton Friedman, who thought it would waste capital and labour, and retard the development of small manufacturers.[22] Image File history File links Indias_growth_rate_of_real_GDP_per_capita(1950-2006). ... Image File history File links Indias_growth_rate_of_real_GDP_per_capita(1950-2006). ... Not to be confused with Political economy. ... The Fabian Society is a British socialist intellectual movement best known for its initial ground-breaking work beginning in the late 19th century and then up to World War I. Similar societies exist in Australia and New Zealand. ... Protectionism is the economic policy of promoting favored domestic industries through the use of high tariffs and other regulations to discourage imports. ... Import substitution industrialization (also called ISI) is a trade and economic policy based on the premise that a developing country should attempt to substitute products which it imports, mostly finished goods, with locally produced substitutes. ... Industrialisation (or industrialization) or an industrial revolution (in general, with lowercase letters) is a process of social and economic change whereby a human society is transformed from a pre-industrial to an industrial state . ... A planned economy is an economic system in which economic decisions are made by centralized planners, who determine what sorts of goods and services to produce, and how they are to be priced and allocated. ... A planned economy is an economic system in which decisions about the production, allocation and consumption of goods and services are planned ahead of time, usually in a centralized fashion, though some proposed systems favour decentralized planning. ... Pandit Jawaharlal Nehru (Hindi: , IPA: (November 14, 1889 – May 27, 1964) was a major political leader of the Congress Party, a pivotal figure in the Indian independence movement and the first Prime Minister of independent India. ... The Prime Minister of India is, in practice, the most powerful person in the Government of India. ... P.C. Mahalanobis Prasanta Chandra Mahalanobis (Bangla: প্রশান্ত চন্দ্র মহলানবিস) (June 29, 1893–June 28, 1972) was an Indian scientist and applied statistician. ... A young Indira Nehru and Mahatma Gandhi, during one of the latters fasts Indira Priyadarshini Gandhi (Hindi: ) (19 November 1917 - October 31, 1984) She was the Prime Minister of India for three consecutive terms from 1966 to 1977 and for a fourth term from 1980 until her assassination in... The economy of the Soviet Union was based on a system of state ownership and administrative planning. ... Heavy industry does not have a single fixed meaning compared to light industry. ... A cottage industry is an industry – primarily manufacturing – which includes many producers, working from their homes, typically part time. ... Milton Friedman (July 31, 1912 – November 16, 2006) was an American Nobel Laureate economist and public intellectual. ...


India's low average growth rate from 1947–80 was derisively referred to as the Hindu rate of growth, because of the unfavourable comparison with growth rates in other Asian countries, especially the "East Asian Tigers".[15] Hindu rate of growth is an expression used to refer to the low annual growth rate of the economy of India, which stagnated around 3. ... Korean name Hangul: Skyline of Central, Hong Kongs financial centre (viewed from Victoria Peak, Hong Kong) Seoul, the capital of South Korea The skyline of Singapores town area at dusk. ...


After 1991

Goldman Sachs has predicted that India will become 3rd largest economy of the world by 2035 based on predicted growth rate of 5.3 to 6.1%. Currently It is cruising at 9.4% growth rate.

In the late 80s, the government led by Rajiv Gandhi eased restrictions on capacity expansion for incumbents, removed price controls and reduced corporate taxes. While this increased the rate of growth, it also led to high fiscal deficits and a worsening current account. The collapse of the Soviet Union, which was India's major trading partner, and the first Gulf War, which caused a spike in oil prices, caused a major balance-of-payments crisis for India, which found itself facing the prospect of defaulting on its loans.[23] In response, Prime Minister Narasimha Rao along with his finance minister Manmohan Singh initiated the economic liberalisation of 1991. The reforms did away with the Licence Raj (investment, industrial and import licensing) and ended many public monopolies, allowing automatic approval of foreign direct investment in many sectors.[24] Since then, the overall direction of liberalisation has remained the same, irrespective of the ruling party, although no party has tried to take on powerful lobbies such as the trade unions and farmers, or contentious issues such as reforming labour laws and reducing agricultural subsidies.[25] Image File history File links IndianEconomicForecast. ... Image File history File links IndianEconomicForecast. ... Rajiv Ratna Gandhi राजीव गाधीं (IPA: ), born in Mumbai, (August 20, 1944 – May 21, 1991), the eldest son of Indira and Feroze Gandhi, was the 7th Prime Minister of India (and the 2nd from the Gandhi family) from his mothers death on 31 October 1984 until his resignation on December 2... For other uses, see Iraq war (disambiguation). ... Pamulaparthi Venkata Narasimha Rao (June 28, 1921 - December 23, 2004) was the ninth Prime Minister of the Republic of India. ... This article is about the Prime Minister of India. ... Economic reform in India is something which is under close study. ... Licence Raj refers to the elaborate licences, regulations and the accompanying red tape, that were required to set up business in India between 1947-1990. ... This article is about economics. ... A union (labor union in American English; trade union, sometimes trades union, in British English; either labour union or trade union in Canadian English) is a legal entity consisting of employees or workers having a common interest, such as all the assembly workers for one employer, or all the workers...


Since 1990 India has emerged as one of the wealthiest economies in the developing world; during this period, the economy has grown constantly, but with a few major setbacks. This has been accompanied by increases in life expectancy, literacy rates and food security.


While the credit rating of India was hit by its nuclear tests in 1998, it has been raised to investment level in 2007 by S&P and Moody's.[26][dead link][27] In 2003, Goldman Sachs predicted that India's GDP in current prices will overtake France and Italy by 2020, Germany, UK and Russia by 2025 and Japan by 2035. By 2035, it was projected to be the third largest economy of the world, behind US and China.[28][29] The Goldman Sachs Group, Inc. ...


Government intervention

State planning and the mixed economy

Main article: Five-Year Plans of India

After independence, India opted for a centrally planned economy to try to achieve an effective and equitable allocation of national resources and balanced economic development. The process of formulation and direction of the Five-Year Plans is carried out by the Planning Commission, headed by the Prime Minister of India as its chairperson.[30] The economy of India is based in part on planning through her five-year plans, developed, executed and monitored by the Planning Commission. ... This article refers to an economy controlled by the state. ... The economy of India is based in part on planning through her five-year plans, developed, executed and monitored by the Planning Commission. ... This article needs cleanup. ... The Prime Minister of India is, in practice, the most powerful person in the Government of India. ... Deputy Chairpersons of the planning commission of India. ...

The number of people employed in non-agricultural occupations in the public and private sectors. Totals are rounded. Private sector data relates to non-agriculture establishments with 10 or more employees.
The number of people employed in non-agricultural occupations in the public and private sectors. Totals are rounded. Private sector data relates to non-agriculture establishments with 10 or more employees.[31]

India's mixed economy combines features of both capitalist market economy and the socialist planned economy, but has shifted more towards the former over the past decade. The public sector generally covers areas which are deemed too important or not profitable enough to leave to the market, including such services as the railways and postal system. Image File history File links Data source: Tables 31 & 32 Economic Survey 2004-2005. ... Image File history File links Data source: Tables 31 & 32 Economic Survey 2004-2005. ... A mixed economy is an economic system that incorporates aspects of more than one economic system. ...


Since independence, there have been phases of nationalizing such areas as banking. More recently, there have been phases of privatizing such sectors.[31] Nationalization is the act of taking assets into state ownership. ...


Public expenditure

India's public expenditure is classified as development expenditure, comprising central plan expenditure and central assistance and non-development expenditures; these categories can each be divided into capital expenditure and revenue expenditure. Central plan expenditure is allocated to development schemes outlined in the plans of the central government and public sector undertakings; central assistance refers to financial assistance and developmental loans given for plans of the state governments and union territories. Non-development capital expenditure comprises capital defense expenditure, loans to public enterprises, states and union territories and foreign governments, while non-development revenue expenditure comprises revenue defence expenditure, administrative expenditure, subsidies, debt relief to farmers, postal deficit, pensions, social and economic services (education, health, agriculture, science and technology), grants to states and union territories and foreign governments.[32][33][31] Public finance (government finance) is the field of economics that deals with budgeting the revenues and expenditures of a public sector entity, usually government. ... Capital has a number of related meanings in economics, finance and accounting. ... For the tax agency in Ireland of the same name, see Revenue Commissioners. ... A union territory is an administrative division of India. ... The military of India, officially known as the Indian armed forces, is the primary military organisation responsible for the territorial security and defense of India. ... A subsidy is generally a monetary grant given by government in support of an activity regarded as being in the public interest. ... For other uses, see Debt (disambiguation). ... For other uses, see Mail (disambiguation). ... This article is about budget deficits. ... This article does not cite any references or sources. ...

Headquarters of India's central bank, the Reserve Bank of India, in Mumbai (It's the tall building in the background. The building in the foreground is the Asiatic Library)
Headquarters of India's central bank, the Reserve Bank of India, in Mumbai (It's the tall building in the background. The building in the foreground is the Asiatic Library)

India's non-development revenue expenditure has increased nearly fivefold in 2003–04 since 1990–91 and more than tenfold since 1985–1986. Interest payments are the single largest item of expenditure and accounted for more than 40% of the total non development expenditure in the 2003–04 budget. Defence expenditure increased fourfold during the same period and has been increasing due to growing tensions in the region, the expensive dispute with Pakistan over Jammu and Kashmir and an effort to modernise the military. Administrative expenses are compounded by a large salary and pension bill, which rises periodically due to revisions in wages, dearness allowance etc. subsidies on food, fertilizers, education and petroleum and other merit and non-merit subsidies account are not only continuously rising, especially because of rising crude oil and food prices, but are also harder to rein in, because of political compulsions.[34][31] The RBI headquarters in Mumbai The RBI Regional Office in Mumbai The RBI heaquarters in Delhi. ... , Bombay redirects here. ... This article is about the area administered by India. ... Romanino, Superintendent paying the workers, 1531-32, fresco, Castello del Buonconsiglio, Trento, Italy. ... This article does not cite any references or sources. ... A wage is a compensation which workers receive in exchange for their labor. ... Dearness allowance (DA) is a part of persons salary in India. ... A subsidy is generally a monetary grant given by government in support of an activity regarded as being in the public interest. ... Fertilizers are chemicals given to plants with the intention of promoting growth; they are usually applied either via the soil or by foliar spraying. ... Petro redirects here. ...


Public receipts

India has a three-tier tax structure, wherein the constitution empowers the union government to levy income tax, tax on capital transactions (wealth tax, inheritance tax), sales tax, service tax, customs and excise duties and the state governments to levy sales tax on intrastate sale of goods, tax on entertainment and professions, excise duties on manufacture of alcohol, stamp duties on transfer of property and collect land revenue (levy on land owned). The local governments are empowered by the state government to levy property tax, Octroi and charge users for public utilities like water supply, sewage etc.[35][36] More than half of the revenues of the union and state governments come from taxes, of which half come from Indirect taxes. More than a quarter of the union government's tax revenues is shared with the state governments.[37] Judiciary Supreme Court of India Chief Justice of India High Courts District Courts Elections Political Parties Local & State Govt. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        An income tax is a tax levied on the financial income... Because of the broad term wealth, property tax, capital transfer taxes (inheritance tax, gift tax) and capital gains taxes are sometimes referred to as wealth taxes. // Net worth tax Some countrys governments will require declaration of the tax payers balance sheet (assets and liabilities), and from that ask for... The examples and perspective in this article or section may not represent a worldwide view. ... A sales tax is a consumption tax charged at the point of purchase for certain goods and services. ... Customs is an authority or agency in a country responsible for collecting customs duties and for controlling the flow of animals and goods (including personal effects and hazardous items) in and out of a country. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        Excise tax, sometimes called an excise duty, is a type of... India is a federal republic comprising twenty-eight states and seven union territories. ... Entertainment tax is a tax on entertainment. ... A profession is an occupation, vocation or career where specialized knowledge of a subject, field, or science is applied. ... Alcoholic beverages An alcoholic beverage is a drink containing ethanol, commonly known as alcohol, although in chemistry the definition of an alcohol includes many other compounds. ... Stamp duty is a form of tax that is levied on documents. ... Local governments are administrative offices of an area smaller than a state. ... Property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. ... Octroi (0. ... A public utility is a company that maintains the infrastructure for a public service. ... Water supply is the process of self-provision or provision by third parties of water of various qualities to different users. ... Sewage is the mainly liquid waste containing some solids produced by humans which typically consists of washing water, faeces, urine, laundry waste and other material which goes down drains and toilets from households and industry. ... An indirect tax (such as sales tax, value added tax (VAT), or goods and services tax (GST)) is collected from the person who bears the tax by intermediaries and the proceeds passed on to government. ...


The tax reforms, initiated in 1991, have sought to rationalise the tax structure and increase compliance by taking steps in the following directions:

  • Reducing the rates of individual and corporate income taxes, excises, customs and making it more progressive
  • Reducing exemptions and concessions
  • Simplification of laws and procedures
  • Introduction of Permanent account number to track monetary transactions
  • 21 of the 29 states introduced Value added tax (VAT) on April 1, 2005 to replace the complex and multiple sales tax system[36][38]

The non-tax revenues of the central government come from fiscal services, interest receipts, public sector dividends, etc., while the non-tax revenues of the States are grants from the central government, interest receipts, dividends and income from general, economic and social services.[34] Permanent Account Number (PAN) is a national identification number, issued to all taxpayers of India whose income is taxable. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Gold standard Fiscal policy Spending   Deficit   Debt Policy-mix Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Regulation Banking Fractional-reserve Full-reserve   Free banking Islamic... is the 91st day of the year (92nd in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Fiscal municipality in Huesca, Spain The term fiscal refers to government debt, expenditures and revenues, or to finance (particularly financial revenue) in general. ...


Inter-State share in the federal tax pool is decided by the recommendations of the Finance Commission to the President. Finance Commission is an impartial authority established under Article 280 of the Constitution of India by the President. ...


General budget

The Finance minister of India presents the annual union budget in the Parliament on the last working day of February. The budget has to be passed by the Lok Sabha before it can come into effect on April 1, the start of India's fiscal year. The Union budget is preceded by an economic survey which outlines the broad direction of the budget and the economic performance of the country for the outgoing financial year. This economic survey involves all the various NGOs, women organizations, business people, old people associations etc. The Finance Minister of India is a cabinet position in the Government of India. ... Indias general budget is presented each year on the last day of February by the countrys Finance minister in Parliament. ... Sansad Bhavan, The Parliament of India The Parliament of India (or Sansad) is bicameral. ... ... The Lok Sabhha (alternatively titled, the House of the People, by the Constitution of India) is the lower house in the Parliament of India. ... is the 91st day of the year (92nd in leap years) in the Gregorian calendar. ... The Finance Ministry presents the Economic Survey in the parliament every year, just before the Union Budget. ...


India's union budget for 2005–06, had an estimated outlay of Rs.5,14,344 crores ($118 billion). Earnings from taxes amount to Rs. 2,73,466 crore ($63b). India's fiscal deficit amounts to 4.5% or 1,39,231 crore ($32b).[39] The fiscal deficit is expected to be 3.8% of GDP, by March 2007.[40] Indias 2005-2006 General budget was presented on February 28, 2005 by the Finance Minister, P. Chidambaram. ... ...


Currency system

Rupee

Main article: Indian rupee
Indian bank notes depicting M. K. Gandhi, The 1000 rupee note is the highest denomination printed.

The Rupee is the only legal tender accepted in India. The exchange rate as of February 24, 2008 is about 40.07 to a US dollar,[41] 59.41 to a Euro, and 79.83 to a UK pound. The Indian rupee is accepted as legal tender in the neighboring Nepal and Bhutan, both of which peg their currency to that of the Indian rupee. The rupee is divided into 100 paise. The highest-denomination banknote is the 1,000 rupee note; the lowest-denomination coin in circulation is the 25 paise coin.[42] “INR” redirects here. ... Image File history File links Size of this preview: 226 × 599 pixel Image in higher resolution (525 × 1392 pixel, file size: 205 KB, MIME type: image/jpeg) This image depicts a unit of currency. ... Image File history File links Size of this preview: 226 × 599 pixel Image in higher resolution (525 × 1392 pixel, file size: 205 KB, MIME type: image/jpeg) This image depicts a unit of currency. ... Mohandas Karamchand Gandhi (October 2, 1869–January 30, 1948) (Devanagari: मोहनदास करमचन्द गांधी, Gujarati મોહનદાસ કરમચંદ ગાંધી) was a national icon who led the struggle for Indias independence from British colonial rule, empowered by tens of millions of common Indians. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ... is the 55th day of the year in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... A Paisa (pl. ...


Labour

Main article: Labour in India

The large population puts further pressure on infrastructure and social services. A positive factor has been the large working-age population, which forms 45.33%[43] of the population and is expected to increase substantially, because of the decreasing dependency ratio. The national labour market has been tightly regulated by successive governments ever since the Workmen's Compensation Act was passed in 1923. Indias labour force exhibits extremes ranging from large numbers of illiterate workers unaccustomed to machinery or routine, to a sizable pool of highly educated scientists, technicians, and engineers, capable of working anywhere in the world. ... In economics, the dependency ratio is the ratio of the economically dependent part of the population, to the productive part. ...


Natural resources

India's total cultivable area is 1,269,219 km² (56.78% of total land area), which is decreasing due to constant pressure from an ever growing population and increased urbanisation. Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of SI unit of surface area square metre, one of the SI derived units. ...


India has a total water surface area of 314,400 km² and receives an average annual rainfall of 1,100 mm. Irrigation accounts for 92% of the water utilisation, and comprised 380 km² in 1974, and is expected to rise to 1,050 km² by 2025, with the balance accounted for by industrial and domestic consumers. India's inland water resources comprising rivers, canals, ponds and lakes and marine resources comprising the east and west coasts of the Indian ocean and other gulfs and bays provide employment to nearly 6 million people in the fisheries sector. India is the sixth largest producer of fish in the world and second largest in inland fish production.[citation needed] A millimetre (American spelling: millimeter, symbol mm) is an SI unit of length that is equal to one thousandth of a metre. ... Irrigation is the artificial application of water to the soil usually for assisting in growing crops. ... This article is about the water body. ... Bay redirects here. ... In geography, a bay or gulf is a collection of water that is surrounded by land on three sides. ... A fishery (plural: fisheries) is an organized effort by humans to catch fish or other aquatic species, an activity known as fishing. ...


India's major mineral resources include Coal (fourth-largest reserves in the world), Iron ore, Manganese, Mica, Bauxite, Titanium ore, Chromite, Natural gas, Diamonds, Petroleum, Limestone and Thorium (world's largest along Kerala's shores). India's oil reserves, found in Bombay High off the coast of Maharashtra, Gujarat, and in eastern Assam meet 25% of the country's demand.[44][4] For other uses, see Mineral (disambiguation). ... Coal Example chemical structure of coal Coal is a fossil fuel formed in ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... General Name, symbol, number iron, Fe, 26 Chemical series transition metals Group, period, block 8, 4, d Appearance lustrous metallic with a grayish tinge Standard atomic weight 55. ... General Name, symbol, number manganese, Mn, 25 Chemical series transition metals Group, period, block 7, 4, d Appearance silvery metallic Standard atomic weight 54. ... Rock with mica Mica sheet Mica flakes The mica group of sheet silicate minerals includes several closely related materials having highly perfect basal cleavage. ... This article is about the ore. ... General Name, symbol, number titanium, Ti, 22 Chemical series transition metals Group, period, block 4, 4, d Appearance silvery grey-white metallic Standard atomic weight 47. ... Chromite, iron magnesium chromium oxide: (Fe,Mg)Cr2O4, is an oxide mineral belonging to the spinel group. ... For other uses, see Natural gas (disambiguation). ... This article is about the mineral. ... Petro redirects here. ... For other uses, see Limestone (disambiguation). ... General Name, Symbol, Number thorium, Th, 90 Chemical series Actinides Group, Period, Block n/a, 7, f Appearance silvery white Standard atomic weight 232. ... , Kerala ( ; Malayalam: കേരളം; ) is a state on the Malabar Coast of southwestern India. ... Mumbai High is an offshore oilfield off the coast of Mumbai. ... , Maharashtra (Marathi: महाराष्ट्र , IPA  , translation: Great Nation) is Indias third largest state in area and second largest in population after Uttar Pradesh. ... This article is for the Indian state. ... , Assam (  ) (Assamese: অসম Ôxôm) is a north eastern state of India with its capital at Dispur, a suburb of the city Guwahati. ...


Rising energy demand concomitant with economic growth has created a perpetual state of energy crunch in India. India is poor in oil resources and is currently heavily dependent on coal and foreign oil imports for its energy needs. Though India is rich in Thorium, but not in Uranium, which it might get access to if a nuclear deal with US comes to fruition. India is rich in certain energy resources which promise significant future potential - clean / renewable energy resources like solar, wind, biofuels (jatropha, sugarcane). General Name, Symbol, Number thorium, Th, 90 Chemical series Actinides Group, Period, Block n/a, 7, f Appearance silvery white Standard atomic weight 232. ... This article is about the chemical element. ... // With about 300 clear sunny days in a year, Indias theoretical solar power reception, just on its land area, is about 5 EWh/year (i. ... As of April 2007 the installed capacity of wind power in India was 7,113. ...


Physical infrastructure

The Mumbai-Pune Expressway is a large infrastructure project taken up by the Indian government
The Mumbai-Pune Expressway is a large infrastructure project taken up by the Indian government

Development of infrastructure was completely in the hands of the public sector and was plagued by corruption, bureaucratic inefficiencies, urban-bias and an inability to scale investment.[45] Image File history File links Metadata Size of this preview: 800 × 600 pixelsFull resolution (3264 × 2448 pixel, file size: 3. ... Image File history File links Metadata Size of this preview: 800 × 600 pixelsFull resolution (3264 × 2448 pixel, file size: 3. ... Chhatrapati Shivaji International Airport (IATA: BOM, ICAO: VABB), formerly Sahar International Airport, is an airport in Mumbai (formerly Bombay), India. ... Image File history File links Download high-resolution version (1024x768, 63 KB) == Licensing == File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Maharashtra Mumbai-Pune Expressway ... Image File history File links Download high-resolution version (1024x768, 63 KB) == Licensing == File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Maharashtra Mumbai-Pune Expressway ... The Mumbai-Pune Expressway as seen from Khandala An overview of the expressway The Mumbai Pune Expressway (Marathi: मुंबई-पुणे द्रुतगती महामार्ग) is Indias first six-lane concrete, high-speed, access controlled tolled expressway. ...


India's low spending on power, construction, transportation, telecommunications and real estate, at $31 billion or 6% of GDP in 2002 had prevented India from sustaining higher growth rates. This had prompted the government to partially open up infrastructure to the private sector allowing foreign investment[46][47][31] which has helped in a sustained growth rate of close to 9% for the past six quarters.[48] India holds second position in the world in roadways' construction, more than twice that of China.[49] As of 2005 the electricity production was at 661.6 billion kWh with oil production standing at 785,000 bbl/day. India's prime import partners are: China 8.7%, US 6%, Germany 4.6%, Singapore 4.6%, Australia 4% as of 2006 CIA FactBook As of 15 January 2007, there were 2.10 million broadband lines in India. [4] Low tele-density is the major hurdle for slow pickup in broadband services. Over 76% of the broadband lines were via DSL and the rest via cable modems. Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... is the 15th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

See also: States of India by installed power capacity
See also: Water supply and sanitation in India

This is a list of States and Union Territories of India by installed capacity of power utilities with generation mode break-up as of 3 April 2006 published by the Ministry of Power with figures in millions of watts. ... Water supply and sanitation in India continue to be inadequate, despite longstanding efforts by the various levels of government and communities at improving coverage. ...

Financial institutions

Cuffe Parade is an important business district in Mumbai, home to the World Trade Center as well as other important financial institutions

India inherited several institutions, such as the civil services, Reserve Bank of India, railways, etc., from its British rulers. Mumbai serves as the nation's commercial capital, with the Reserve Bank of India (RBI), Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) located here. The headquarters of many financial institutions are also located in the city. Cuffe Parade is an upmarket neighbourhood in Mumbai. ... Indian Civil Service, popularly known by its acronym ICS, was the elite civil service of the Indian Government. ... Anthem God Save The King-Emperor The British Indian Empire, 1909 Capital Calcutta (1858 - 1912) New Delhi (1912 - 1947) Language(s) Hindustani, English and many others Government Monarchy Emperor of India  - 1858-1901 Victoria¹  - 1901-1910 Edward VII  - 1910-1936 George V  - 1936 Edward VIII  - 1936-1947 George VI Viceroy... , Bombay redirects here. ... The Bombay Stock Exchange The Bombay Stock Exchange Limited (Marathi:मुंबई शेयर बाजार) (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in Asia. ... The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. ...

Cyber Greens Office Complex. Containing offices like ABN Amro, Microsoft.
Cyber Greens Office Complex. Containing offices like ABN Amro, Microsoft.

The RBI, the country's central bank was established on 1 April 1935. It serves as the nation's monetary authority, regulator and supervisor of the financial system, manager of exchange control and as an issuer of currency. The RBI is governed by a central board, headed by a governor who is appointed by the Central government of India. is the 91st day of the year (92nd in leap years) in the Gregorian calendar. ... 1935 (MCMXXXV) was a common year starting on Tuesday (link will display full calendar). ...


The BSE Sensex or the BSE Sensitive Index is a value-weighted index composed of 30 companies with April 1979 as the base year (100). These companies have the largest and most actively traded stocks and are representative of various sectors, on the Exchange. They account for around one-fifth of the market capitalisation of the BSE. The Sensex is generally regarded as the most popular and precise barometer of the Indian stock markets. Incorporated in 1992, the National Stock Exchange is one of the largest and most advanced stock markets in India. The NSE is the world's third largest stock exchange in terms of transactions. There are a total of 23 stock exchanges in India, but the BSE and NSE comprise 83% of the volumes.[50] The Securities and Exchange Board of India (SEBI), established in 1992, regulates the stock markets and other securities markets of the country. The Bombay Stock Exchange The BSE Sensex or Bombay Stock Exchange Sensitive Index is a value-weighted index composed of 30 stocks with the base April 1979 = 100. ... A barometer is an instrument used to measure atmospheric pressure. ... Securities and Exchange Board of India (SEBI) is a board (corporate body) appointed by the Government of India in 1992 with its head office at Mumbai. ... A stock market or (equity market) is a private or public market for the trading of company stock and derivatives of company stock at an agreed price; both of these are securities listed on a stock exchange as well as those only traded privately. ...


Sectors

Agriculture

Main article: Agriculture in India
Composition of India's total production (million tonnes) of foodgrains and commercial crops, in 2003–04.
Composition of India's total production (million tonnes) of foodgrains and commercial crops, in 2003–04.

India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce[4] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India. Yields per unit area of all crops have grown since 1950, due to the special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology, application of modern agricultural practices and provision of agricultural credit and subsidies since Green revolution in India. However, international comparisons reveal that the average yield in India is generally 30% to 50% of the highest average yield in the world.[51] Agriculture in India is one of the most prominent sectors in its economy. ... Image File history File links Composition of Indias agricultural output in 2003-04. ... Image File history File links Composition of Indias agricultural output in 2003-04. ... Agricultural output in January 2008 Industrial output in January 2008 Service output in January 2008 This is a list of countries by GDP sector composition based on nominal GDP estimates and sector composition ratios provided by the CIA World Fact Book at market or government official exchange rates with figures... A decidous beech forest in Slovenia. ... For other uses, see Log. ... For the computer security term, see Phishing. ... Yield may mean: In economics, yield is a measure of the amount of income an investment generates over time (related to return on investment). ... Irrigation is the artificial application of water to the soil usually for assisting in growing crops. ... The introduction of high-yielding varieties of seeds after 1965 and the increased use of fertilizers and irrigation are known collectively as the Green Revolution, which provided the increase in production needed to make India self-sufficient in food grains, thus improving agriculture in India. ...


The low productivity in India is a result of the following factors:

  • Illiteracy, general socio-economic backwardness, slow progress in implementing land reforms and inadequate or inefficient finance and marketing services for farm produce.
  • The average size of land holdings is very small (less than 20,000 m²) and is subject to fragmentation, due to land ceiling acts and in some cases, family disputes. Such small holdings are often over-manned, resulting in disguised unemployment and low productivity of labour.
  • Adoption of modern agricultural practices and use of technology is inadequate, hampered by ignorance of such practices, high costs and impracticality in the case of small land holdings.
  • Irrigation facilities are inadequate, as revealed by the fact that only 53.6% of the land was irrigated in 2000–01,[52] which result in farmers still being dependent on rainfall, specifically the Monsoon season. A good monsoon results in a robust growth for the economy as a whole, while a poor monsoon leads to a sluggish growth.[53] Farm credit is regulated by NABARD, which is the statutory apex agent for rural development in the subcontinent.

A German combine harvester. ... For other uses, see Monsoon (disambiguation). ... Nabard, which stands for National Bank for Agriculture and Rural Development, was established on 12th July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. ...

Industry

Per capita GDP (at PPP) of South Asian economies versus those of South Korea, as a percentage of the US
Per capita GDP (at PPP) of South Asian economies versus those of South Korea, as a percentage of the US[20][54]

India is fourteenth in the world in factory output. They together account for 27.6% of the GDP and employ 17% of the total workforce.[4] However, about one-third of the industrial labour force is engaged in simple household manufacturing only. [5] Image File history File links data source: Table 1, http://www. ... Image File history File links data source: Table 1, http://www. ... Map of South Asia South Asia is a subregion of Asia comprising the modern states of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka, . It covers about 4,480,000 km², or 10 percent of the continent, and is also known as the Indian subcontinent. ... Agricultural output in January 2008 Industrial output in January 2008 Service output in January 2008 This is a list of countries by GDP sector composition based on nominal GDP estimates and sector composition ratios provided by the CIA World Fact Book at market or government official exchange rates with figures... The use of the term has expanded, and is used to refer to any event which allows a large number of people to lalalawork part time. ...


Economic reforms brought foreign competition, led to privatisation of certain public sector industries, opened up sectors hitherto reserved for the public sector and led to an expansion in the production of fast-moving consumer goods.[55] In economics Final goods are goods that are ultimately consumed rather than used in the production of another good. ...


Post-liberalisation, the Indian private sector, which was usually run by oligopolies of old family firms and required political connections to prosper was faced with foreign competition, including the threat of cheaper Chinese imports. It has since handled the change by squeezing costs, revamping management, focusing on designing new products and relying on low labour costs and technology.[56]


34 Indian companies have been listed in the Forbes Global 2000 ranking for 2008.[57] The 10 leading companies are: The Forbes Global 2000 - is an annual ranking of the top 2000 corporations in the world by Forbes magazine. ...

World Rank Company Logo Industry Revenue
(billion $)
Profits
(billion $)
Assets
(billion $)
Market Value
(billion $)
193 Reliance Industries Oil & Gas Operations 26.07 2.79 30.67 89.29
198 Oil and Natural Gas Corporation Oil & Gas Operations 18.90 4.11 33.79 54.11
219 State Bank of India Banking 15.77 1.47 188.56 33.29
303 Indian Oil Corporation Oil & Gas Operations 42.68 1.82 25.39 16.36
374 ICICI Bank Banking 9.84 0.64 91.07 29.85
411 NTPC Utilities 7.84 1.60 20.34 41.57
647 Steel Authority of India Limited Materials 7.88 1.45 8.05 26.37
738 Tata Steel Materials 5.83 0.97 11.48 14.63
826 Bharti Airtel Telecommunications Services 4.26 0.94 6.61 39.16
846 Reliance Communications Telecommunications Services 3.13 0.65 13.08 29.63

(NSE: RELIANCE) is Indias largest private sector company with a turnover of US $19. ... Image File history File links Ril_logo. ... Oil and Natural Gas Corporation Limited (ONGC) (incorporated on June 23, 1993) is a public sector petroleum company based in Dehradun, India. ... Image File history File links ONGC_Logo. ... State Bank of India (SBI) (LSE: SBID) is a Public Sector Banking Organisation (PSB), in which the Government of India is the biggest shareholder, and is the largest bank in India. ... Image File history File links SBI-logo. ... Indian Oil Corporation Ltd. ... Image File history File links Iocl_logo. ... ICICI Bank HQ at BKC Mumbai ICICI Bank (BSE: ICICI) (formerly Industrial Credit and Investment Corporation of India) is Indias largest private sector bank in market capitalization and second largest overall in terms of assets. ... Image File history File links Icicibank. ... For other uses, see Bank (disambiguation). ... NTPC could refer to In India, National Thermal Power Corporation Northwest Territories Power Corporation This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Image File history File links NTPC_logo. ... Steel Authority of India Limited (SAIL) is the second largest steel maker in India. ... Image File history File links No higher resolution available. ... material is the substance or matter from which something is or can be made, or also items needed for doing or creating something. ... Tata Steel, formerly known as TISCO (Tata Iron and Steel Company Limited), is a steel company based in Mumbai, India. ... Image File history File links No higher resolution available. ... material is the substance or matter from which something is or can be made, or also items needed for doing or creating something. ... For the information technology, see Airtel (FBI). ... Image File history File links Airtel-logo. ... Reliance Communications (formerly Reliance Infocomm), along with Reliance Telecom and Flag Telecom, is part of Reliance Communications Ventures (RCoVL). ... Image File history File links No higher resolution available. ...

Services

Infosys headquarters in Bangalore, one of the largest software companies in India.
Infosys headquarters in Bangalore, one of the largest software companies in India.

India is fifteenth in services output. It provides employment to 23% of work force, and it is growing fast, growth rate 7.5% in 1991–2000 up from 4.5% in 1951–80. It has the largest share in the GDP, accounting for 53.8% in 2005 up from 15% in 1950.[4] Business services (information technology, information technology enabled services, business process outsourcing) are among the fastest growing sectors contributing to one third of the total output of services in 2000. The growth in the IT sector is attributed to increased specialisation, availability of a large pool of low cost, but highly skilled, educated and fluent English-speaking workers. On the supply side and on the demand side, increased demand from foreign consumers interested in India's service exports or those looking to outsource their operations. India's IT industry, despite contributing significantly to its balance of payments, accounted for only about 1% of the total GDP or 1/50th of the total services.[58] Image File history File links Metadata Size of this preview: 800 × 600 pixelsFull resolution (1024 × 768 pixel, file size: 317 KB, MIME type: image/jpeg) Uploaded to Wiki by user:nikkul Taken by: Flickr user: Proxygeek http://www. ... Image File history File links Metadata Size of this preview: 800 × 600 pixelsFull resolution (1024 × 768 pixel, file size: 317 KB, MIME type: image/jpeg) Uploaded to Wiki by user:nikkul Taken by: Flickr user: Proxygeek http://www. ... Infosys Software Development Center in Pune. ... , For other uses, see Bangalore (disambiguation). ... Agricultural output in January 2008 Industrial output in January 2008 Service output in January 2008 This is a list of countries by GDP sector composition based on nominal GDP estimates and sector composition ratios provided by the CIA World Fact Book at market or government official exchange rates with figures... Information and communication technology spending in 2005 Information Technology (IT), as defined by the Information Technology Association of America (ITAA), is the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware. ... Information technology enabled services, or ITES, is a form of outsourced service which has emerged due to involvement of IT in various fields such as banking and finance, telecommunications, insurance, etc. ... Business process outsourcing (BPO) contains the transmission of processes along with the associated operational activities and responsibilities, to a third party with at least a guaranteed equal service level and where the client contains a firm grip over the (activities of the) vendor for mutual long term success. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ... Outsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company. ... The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ...


Banking and finance

Main article: Banking in India
Structure of the organised banking sector in India. Number of banks are in brackets.
Structure of the organised banking sector in India. Number of banks are in brackets.[59]

The Indian money market is classified into: the organised sector (comprising private, public and foreign owned commercial banks and cooperative banks, together known as scheduled banks); and the unorganised sector (comprising individual or family owned indigenous bankers or money lenders and non-banking financial companies (NBFCs)). The unorganised sector and microcredit are still preferred over traditional banks in rural and sub-urban areas, especially for non-productive purposes, like ceremonies and short duration loans.[60] Structure of the organised banking sector in India. ... Image File history File links Download high resolution version (476x635, 57 KB) File links The following pages link to this file: Economy of India User:Nichalp/sandbox ... Image File history File links Download high resolution version (476x635, 57 KB) File links The following pages link to this file: Economy of India User:Nichalp/sandbox ... This article is about short-term financing. ... A commercial bank is a type of financial intermediary and a type of bank. ... Co-op redirects here. ... Moneylending is a trade in which money is lent to individuals and corporations. ... Non-bank financial companies (NBFCs) also known as a non-bank or a non-bank bank, are financial institutions that provide banking services without meeting the legal definition of a bank, i. ... Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable. ...


Prime Minister Indira Gandhi nationalised 14 banks in 1969, followed by six others in 1980, and made it mandatory for banks to provide 40% of their net credit to priority sectors like agriculture, small-scale industry, retail trade, small businesses, etc. to ensure that the banks fulfill their social and developmental goals. Since then, the number of bank branches has increased from 10,120 in 1969 to 98,910 in 2003 and the population covered by a branch decreased from 63,800 to 15,000 during the same period. The total deposits increased 32.6 times between 1971 to 1991 compared to 7 times between 1951 to 1971. Despite an increase of rural branches, from 1,860 or 22% of the total number of branches in 1969 to 32,270 or 48%, only 32,270 out of 5 lakh (500,000) villages are covered by a scheduled bank.[61][62] A young Indira Nehru and Mahatma Gandhi, during one of the latters fasts Indira Priyadarshini Gandhi (Hindi: ) (19 November 1917 - October 31, 1984) She was the Prime Minister of India for three consecutive terms from 1966 to 1977 and for a fourth term from 1980 until her assassination in... Nationalization is the act of taking assets into state ownership. ... Bank deposits accounts are the large part of the money supply. They come in different types depending on withdrawal restrictions. ... A lakh (Hindi/Nepali : लाख, Urdu: Ù„Ú©Ú¾, Bengali: , Telugu : లక్ష, Tamil : இலட்சம்) is a unit in the Indian numbering system, widely used both in official and other contexts in Bangladesh, India, Nepal, Sri Lanka, Myanmar and Pakistan. ...


Since liberalisation, the government has approved significant banking reforms. While some of these relate to nationalised banks (like encouraging mergers, reducing government interference and increasing profitability and competitiveness), other reforms have opened up the banking and insurance sectors to private and foreign players.[63][4]


Socio-economic characteristics

Poverty

Percentage of population living under the poverty line
Main article: Poverty in India

Large numbers of India's people live in abject poverty. Wealth distribution in India is improving since the liberalization and with the end of the socialist rule termed as the license raj.[64] While poverty in India has reduced significantly, official figures estimate that 27.5%[65] of Indians still lived below the national poverty line in 2004-2005.[66] A 2007 report by the state-run National Commission for Enterprises in the Unorganised Sector (NCEUS) found that 70% of Indians, or 800 million people, lived on less than 20 rupees per day[67] with most working in "informal labour sector with no job or social security, living in abject poverty."[68] Image File history File links Download high-resolution version (1058x789, 140 KB) Data Source: Ministry of Statistics and Program Implementation, Government of India. ... Image File history File links Download high-resolution version (1058x789, 140 KB) Data Source: Ministry of Statistics and Program Implementation, Government of India. ... In New Delhi, a woman wields a pickaxe on a footpath maintenance project while her husband takes a break and her baby sleeps Though the middle class has gained from recent positive economic developments, India suffers from substantial poverty. ... In economics, Distribution of wealth refers to the proportion of capital controlled by a given percentage of a population. ...


Since the early 1950s, successive governments have implemented various schemes, under planning, to alleviate poverty, that have met with partial success. All these programmes have relied upon the strategies of the Food for work programme and National Rural Employment Programme of the 1980s, which attempted to use the unemployed to generate productive assets and build rural infrastructure.[31] In August 2005, the Indian parliament passed the Rural Employment Guarantee Bill, the largest programme of this type in terms of cost and coverage, which promises 100 days of minimum wage employment to every rural household in 200 of India's 600 districts. The question of whether economic reforms have reduced poverty or not has fuelled debates without generating any clear cut answers and has also put political pressure on further economic reforms, especially those involving the downsizing of labour and cutting agricultural subsidies.[69][70] This article refers to an economy controlled by the state. ... Sansad Bhavan, The Parliament of India The Parliament of India (or Sansad) is bicameral. ... The divisions of a district. ...


Corruption

Main article: Corruption in India

Corruption has been one of the pervasive problems affecting India. The economic reforms of 1991 reduced the red tape, bureaucracy and the Licence Raj that had strangled private enterprise and was blamed for the corruption and inefficiencies. Yet, a 2005 study by Transparency International (TI) India found that more than half of those surveyed had firsthand experience of paying bribe or peddling influence to get a job done in a public office.[71] Red tape (or sometimes paperwork) is a derisive term for excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or prevents action or decision-making. ... Transparency International (TI) is an international organisation addressing corruption, including, but not limited to, political corruption. ...


The Right to Information Act (2005) and equivalent acts in the states, that require government officials to furnish information requested by citizens or face punitive action, computerisation of services and various central and state government acts that established vigilance commissions have considerably reduced corruption or at least have opened up avenues to redress grievances.[71] The 2006 report by Transparency International ranks India at 70th place and states that significant improvements were made by India in reducing corruption.[72][73] The Right to Information Act 2005 (Act No. ...


Occupations and unemployment

Agricultural and allied sectors accounted for about 57% of the total workforce in 1999–2000, down from 60% in 1993–94. While agriculture has faced stagnation in growth, services have seen a steady growth. Of the total workforce, 8% is in the organised sector, two-thirds of which are in the public sector. The NSSO survey estimated that in 1999–2000, 106 million, nearly 10% of the population were unemployed and the overall unemployment rate was 7.32%, with rural areas doing marginally better (7.21%) than urban areas (7.65%).


Unemployment in India is characterised by chronic underemployment or disguised unemployment. Government schemes that target eradication of both poverty and unemployment, (Which in recent decades has sent millions of poor and unskilled people into urban areas in search of livelihoods.) attempt to solve the problem, by providing financial assistance for setting up businesses, skill honing, setting up public sector enterprises, reservations in governments, etc. The decreased role of the public sector after liberalisation has further underlined the need for focusing on better education and has also put political pressure on further reforms.[74][31] In economics, the term underemployment has at least three different distinct meanings and applications. ... The Great Depression, shown here in Dorothea Langes Migrant Mother, caused a massive surge of cyclical unemployment Economists distinguish between five major kinds of unemployment, i. ...


Regional imbalance

One of the critical problems facing India's economy is the sharp and growing regional variations among India's different states and territories in terms of per capita income, poverty, availability of infrastructure and socio-economic development.[75] What follows is a list of unofficial, or quasi-official regions of India. ...


The five-year plans have attempted to reduce regional disparities by encouraging industrial development in the interior regions, but industries still tend to concentrate around urban areas and port cities[76] After liberalization, the more advanced states are better placed to benefit from them, with infrastructure like well developed ports, urbanisation and an educated and skilled workforce which attract manufacturing and service sectors. The union and state governments of backward regions are trying to reduce the disparities by offering tax holidays, cheap land, etc., and focusing more on sectors like tourism, which although being geographically and historically determined, can become a source of growth and is faster to develop than other sectors.[77][78]

See also: States of India by size of economy
See also: Standard of living in India#Regional imbalance

Andhra Pradesh Arunachal Pradesh Assam Bihar Chhattisgarh National Capital Territory of Delhi Goa Gujarat Haryana Himachal Pradesh Jammu and Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Mizoram Nagaland Orissa Punjab Rajasthan Sikkim Tamil Nadu Tripura Uttaranchal Uttar Pradesh West Bengal Andaman and Nicobar Islands Chandigarh Dadra and Nagar... In New Delhi, a woman wields a pickaxe on a footpath maintenance project while her husband rests and her baby sleeps The standard of living in India is constantly improving. ...

External trade and investment

Global trade relations

Share of top five investing countries in FDI inflows. (2000–2007)[79]
Rank Country Inflows
(Million USD)
Inflows (%)
1 Flag of Mauritius Mauritius 85,178 44.24%[80]
2 Flag of the United States United States 18,040 9.37%
3 Flag of the United Kingdom United Kingdom 15,363 7.98%
4 Flag of the Netherlands Netherlands 11,177 5.81%
5 Flag of Singapore Singapore 9,742 5.06%

Until the liberalisation of 1991, India was largely and intentionally isolated from the world markets, to protect its fledging economy and to achieve self-reliance. Foreign trade was subject to import tariffs, export taxes and quantitative restrictions, while foreign direct investment was restricted by upper-limit equity participation, restrictions on technology transfer, export obligations and government approvals; these approvals were needed for nearly 60% of new FDI in the industrial sector. The restrictions ensured that FDI averaged only around $200M annually between 1985 and 1991; a large percentage of the capital flows consisted of foreign aid, commercial borrowing and deposits of non-resident Indians.[81] Image File history File links Flag_of_Mauritius. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_the_United_Kingdom. ... Image File history File links Flag_of_the_Netherlands. ... Image File history File links Flag_of_Singapore. ... This article is about economics. ... NRI redirects here. ...

Indian exports in 2006
Indian exports in 2006

India's exports were stagnant for the first 15 years after independence, due to the predominance of tea, jute and cotton manufactures, demand for which was generally inelastic. Imports in the same period consisted predominantly of machinery, equipment and raw materials, due to nascent industrialisation. Since liberalisation, the value of India's international trade has become more broad-based and has risen to Rs. 63,080,109 crores in 2003–04 from Rs.1,250 crores in 1950–51.[citation needed] India's major trading partners are China, the US, the UAE, the UK, Japan and the EU.[82] The exports during April 2007 were $12.31 billion up by 16% and import were $17.68 billion with an increase of 18.06% over the previous year.[83] For other uses, see Cotton (disambiguation). ... In economics, elasticity is the ratio of the proportionate change in one variable with respect to proportional change in another variable, such as the responsiveness of the price of a commodity to changes in market demand or visa-versa. ... A crore is a unit in the Indian numbering system, still widely used in Bangladesh, India, Myanmar, Sri Lanka, and Pakistan. ...


India is a founding-member of General Agreement on Tariffs and Trade (GATT) since 1947 and its successor, the World Trade Organization. While participating actively in its general council meetings, India has been crucial in voicing the concerns of the developing world. For instance, India has continued its opposition to the inclusion of such matters as labour and environment issues and other non-tariff barriers into the WTO policies.[84] The General Agreement on Tariffs and Trade (typically abbreviated GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATTs main objective was the reduction of barriers to international trade. ... WTO redirects here. ...  Newly industrialized countries  Other emerging markets  Other developing economies  High income  Upper-middle income  Lower-middle income  Low income A developing country is that country which has a relatively low standard of living, an undeveloped industrial base, and a moderate to low Human Development Index (HDI) score and per capita... Non-tariff barriers to trade are restrictions to imports but are not in the usual form of a tariff. ...


Balance of payments

Since independence, India's balance of payments on its current account has been negative. Since liberalisation in the 1990s (precipitated by a balance of payment crisis), India's exports have been consistently rising, covering 80.3% of its imports in 2002–03, up from 66.2% in 1990–91. Although India is still a net importer, since 1996–97, its overall balance of payments (i.e., including the capital account balance), has been positive, largely on account of increased foreign direct investment and deposits from non-resident Indians; until this time, the overall balance was only occasionally positive on account of external assistance and commercial borrowings. As a result, India's foreign currency reserves stood at $285 billion in 2008, which could be used in infrastructural development of the country if used effectively. The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ... Blue = countries in current account surplus; Red = countries in current account deficit, 2005 The current account of the balance of payments is the sum of the balance of trade (exports less imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as... The capital account is one of two primary components of the balance of payments. ... NRI redirects here. ...

India is a net importer: Per the CIA factbook in 2007, imports were $224bn and exports $140bn.
India is a net importer: Per the CIA factbook in 2007, imports were $224bn and exports $140bn.

India's reliance on external assistance and commercial borrowings has decreased since 1991–92, and since 2002–03, it has gradually been repaying these debts. Declining interest rates and reduced borrowings decreased India's debt service ratio to 4.5% in 2007.[85] In India, External Commercial Borrowings (ECBs) are being permitted by the Government for providing an additional source of funds to Indian corporates. The Ministry of Finance monitors and regulates these borrowings (ECBs) through ECB policy guidelines.[86] Image File history File links A freight ship off the coast of Mumbai. ... Image File history File links A freight ship off the coast of Mumbai. ... The finance minister is a cabinet position in a government. ...


Foreign direct investment in India

As the third-largest economy in the world in PPP terms, India is a preferred destination for foreign direct investments (FDI)[citation needed]; India has strengths in information technology and other significant areas such as auto components, chemicals, apparels, pharmaceuticals, and jewellery. India has always held promise for global investors[citation needed], but its rigid FDI policies were a significant hindrance in this regard. However, as a result of a series of ambitious and positive economic reforms aimed at deregulating the economy and stimulating foreign investment, India has positioned itself as one of the front-runners of the rapidly growing Asia Pacific Region. India has a large pool of skilled managerial and technical expertise. The size of the middle-class population at 300 million exceeds the population of both the US and the EU, and represents a powerful consumer market.[87] This article is about economics. ...


India's recently liberalised FDI policy (2005) allows up to a 100% FDI stake in ventures. Industrial policy reforms have substantially reduced industrial licensing requirements, removed restrictions on expansion and facilitated easy access to foreign technology and foreign direct investment FDI. The upward moving growth curve of the real-estate sector owes some credit to a booming economy and liberalized FDI regime. In March 2005, the government amended the rules to allow 100 per cent FDI in the construction business.[88] This automatic route has been permitted in townships, housing, built-up infrastructure and construction development projects including housing, commercial premises, hotels, resorts, hospitals, educational institutions, recreational facilities, and city- and regional-level infrastructure.


A number of changes were approved on the FDI policy to remove the caps in most sectors. Restrictions will be relaxed in sectors as diverse as civil aviation, construction development, industrial parks, petroleum and natural gas, commodity exchanges, credit-information services and mining. But this still leaves an unfinished agenda of permitting greater foreign investment in politically sensitive areas such as insurance and retailing. FDI inflows into India reached a record US$19.5bn in fiscal year 2006/07 (April-March), according to the government's Secretariat for Industrial Assistance. This was more than double the total of US$7.8bn in the previous fiscal year. Between April and September 2007, FDI inflows were US$8.2bn.[89]


See also

This is a list of major companies based in India. ... A countrys international investment position is the result of its financial account in the balance of payments. ... A Bilateral Investment Treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in the state of the other. ... The energy policy of India is characterized by tradeoffs between four major drivers: Rapidly growing economy, with a need for dependable and reliable supply of electricity, gas, and petroleum products; Increasing household incomes, with a need for affordable and adequate supply of electricity, and clean cooking fuels; Limited domestic reserves... List of Cooperative Banks in India // The Bicholim Urban Co-operative Bank Ltd. ...

Notes

  1. ^ Economic Times India
  2. ^ "India's GDP expanded at fastest pace in 18 years", MarketWatch, May 31, 2007. 
  3. ^ IMF - World Economic Outlook Database. CIA (2007-10-15). Retrieved on 2007-10-24.
  4. ^ a b c d e f CIA - The World Factbook - India. CIA (2007-09-20). Retrieved on 2007-10-02.
  5. ^ India climbs up the income ladder
  6. ^ World Bank Country Classification Groups, (July 2006 data)
  7. ^ Nehru, Jawaharlal (1946). Discovery of India. Penguin Books. ISBN 0-14-303103-1. 
  8. ^ Kumar, Dharma (Ed.) (1982). The Cambridge Economic History of India (Volume 2) c. 1757 - c. 1970. Penguin Books, 519. 
  9. ^ Datt, Ruddar & Sundharam, K.P.M. (2005). "2", Indian Economy. S.Chand, 15–16. ISBN 81-219-0298-3. 
  10. ^ Sankaran, S (1994). "3", Indian Economy: Problems, Policies and Development. Margham Publications, 50. ISBN. 
  11. ^ Kumar, Dharma (Ed.). "4", The Cambridge Economic History of India (Volume 2), 422. 
  12. ^ Datt, Ruddar & Sundharam, K.P.M.. "2", Indian Economy, 16. 
  13. ^ "Economy of Mughal Empire", Bombay Times, Times of India, 2004-08-17. 
  14. ^ Kumar, Dharma (Ed.). "1", The Cambridge Economic History of India (Volume 2), 32–35. 
  15. ^ a b Williamson, John and Zagha, Roberto (2002). "From the Hindu Rate of Growth to the Hindu Rate of Reform". Working Paper No. 144. Center for research on economic development and policy reform.
  16. ^ Roy, Tirthankar (2000). "1", The Economic History of India. Oxford University Press, 1. ISBN 0-19-565154-5. 
  17. ^ "Of Oxford, economics, empire, and freedom", The Hindu, October 2, 2005. 
  18. ^ Roy, Tirthankar (2000). "10", The Economic History of India. Oxford University Press, 304. ISBN 0-19-565154-5. 
  19. ^ Roy, Tirthankar (2000). "preface", The Economic History of India. Oxford University Press. ISBN 0-19-565154-5. 
  20. ^ a b Kelegama, Saman and Parikh, Kirit (2000). "Political Economy of Growth and Reforms in South Asia". Second Draft.
  21. ^ Cameron, John and Ndhlovu, P Tidings (2001). "Cultural Influences on Economic Thought in India: Resistance to diffusion of neo-classical economics and the principles of Hinduism".
  22. ^ Milton Friedman on the Nehru/Mahalanobis Plan. Retrieved on 2005-07-16.
  23. ^ Ghosh, Arunabha (2004-06-01). "India's pathway trough economic crisis". Global Economic Governance Programme GEG Working Paper 2004/06. Retrieved on 2007-10-02.
  24. ^ Panagariya, Arvind (2004). "India in the 1980s and 1990s: A Triumph of Reforms".
  25. ^ "That old Gandhi magic", The Economist, November 27, 1997. 
  26. ^ "S&P raises India's credit rating.
  27. ^ "India's sovereign credit upgraded".
  28. ^ Wilson, Dominic; Purushothaman, Roopa (2003-10-01). DreamingWith BRICs: The Path to 2050. Global economics paper No. 99. Goldman Sachs. Retrieved on 2007-10-04.
  29. ^ Grammaticas, Damian. "Indian economy 'to overtake UK'". BBC News. Retrieved on 2007-01-26.
  30. ^ History of the Planning Commission. Retrieved on 2005-07-22.
  31. ^ a b c d e f g Economic Survey 2004–2005. Retrieved on 2006-07-15.
  32. ^ Public expenditure was classified as plan and non-plan expenditure in the 1987–1988 union budget. It is now referred to as development and non-development expenditure, but the definition remains the same. Development expenditure is a capital expenditure.
  33. ^ Datt, Ruddar & Sundharam, K.P.M.. "55", Indian Economy, 943. 
  34. ^ a b Datt, Ruddar & Sundharam, K.P.M.. "55", Indian Economy, 943–945. 
  35. ^ Service tax and expenditure tax are not levied in Jammu and Kashmir; Intra-state sale happens when goods or the title of goods move from one state to another.
  36. ^ a b Bernardi, Luigi and Fraschini, Angela (2005). "Tax System And Tax Reforms In India". Working paper n. 51.
  37. ^ Tax revenue was 88% of total union government revenue in 1950–51 and has come down to 73% in 2003–04, as a result of increase in non-tax revenue. Tax revenues were 70% of total state government revenues in 2002 to 2003. Indirect taxes were 84% of the union governments total tax revenue and have come down to 62% in 2003–04, mostly due to cuts in import duties and rationalisation. The states share in union government's tax revenue is 28.0% for the period 2000 to 2005 as per the recommendations of the eleventh finance commission. In addition, states that do not levy sales tax on sugar, textiles and tobacco, are entitled to 1.5% of the proceeds.Datt, Ruddar & Sundharam, K.P.M. (2005). Indian Economy. S.Chand, 938, 942, 946. ISBN 81-219-0298-3. 
  38. ^ "Indif_real_GDP_per_capitaa says 21 of 29 states to launch new tax", Daily Times, March 25, 2005. 
  39. ^ Union Budget & Economic Survey. Retrieved on 2006-07-29.
  40. ^ Revenue surge boosts fiscal health.
  41. ^ Historical Rupees-USD rates.
  42. ^ RBI
  43. ^ Labor force=496.4 million(2005) according to CIA World factbook
  44. ^ Datt, Mihir Bhojani & Vivek Sundharam, K.P.M.. "7", Indian Economy, 90,97,98,100. 
  45. ^ Sankaran, S (1994). Indian Economy: Problems, Policies and Development. Margham Publications. ISBN. 
  46. ^ Infrastructure the missing link. Retrieved on 2005-08-14.
  47. ^ Infrastructure in India: Requirements and favorable climate for foreign investment. Retrieved on 2005-08-14.
  48. ^ India's Economic Growth Unexpectedly Quickens to 9.2%
  49. ^ Infrastructure Rankings.
  50. ^ Regional stock exchanges—Bulldozed by the Big Two. Retrieved on 2005-08-10.
  51. ^ Datt, Ruddar & Sundharam, K.P.M.. "28", Indian Economy, 485–491. 
  52. ^ Multiple authors (2004). "Agricultural Statistics at a Glance 2004".
  53. ^ Sankaran, S. "28", Indian Economy: Problems, Policies and Development, 492–493. 
  54. ^ Data for Bangladesh is not available for 1950.
  55. ^ "Economic structure", The Economist, October 6, 2003. 
  56. ^ "Indian manufacturers learn to compete", The Economist, 12 February 2004. 
  57. ^ Forbes Global 2000 (Ger-Ind). Retrieved on March, 2008.
  58. ^ Gordon, Jim and Gupta, Poonam (2003). "Understanding India's Services Revolution". November 12, 2003.
  59. ^ Old private banks are private banks existing prior to opening up of the banking sector.
  60. ^ Datt, Ruddar & Sundharam, K.P.M.. "50", Indian Economy, 847–850. 
  61. ^ Datt, Ruddar & Sundharam, K.P.M.. "50", Indian Economy, 850–851. 
  62. ^ Ghosh, Jayati. Bank Nationalisation: The Record. Macroscan. Retrieved on 2005-08-05.
  63. ^ Datt, Ruddar & Sundharam, K.P.M.. "50", Indian Economy, 865–867. 
  64. ^ Income classes:India's income distribution widens
  65. ^ This figure is extremely sensitive to the surveying methodology used. The Uniform Recall Period (URP) gives 27.5%. The Mixed Recall Period (MRP) gives a figure of 21.8%
  66. ^ Planning commission of India. Poverty estimates for 2004-2005 [1]
  67. ^ NCEUS Report
  68. ^ "Nearly 80 Percent of India Lives On Half Dollar A Day", Reuters, August 10, 2007. 
  69. ^ Datt, Ruddar & Sundharam, K.P.M.. "22", Indian Economy, 367,369,370. 
  70. ^ Jawahar gram samriddhi yojana. Retrieved on 2005-07-09.
  71. ^ a b Transparency International India. India Corruption Study 2005. Centre for Media Studies. Retrieved on 2008-03-14.
  72. ^ 2006 Corruption Perceptions Index reinforces link between poverty and corruption. Transparency International. Retrieved on 2008-03-15.
  73. ^ CPI Table. Transparency International. Retrieved on 2008-03-15.
  74. ^ Datt, Ruddar & Sundharam, K.P.M.. "24", Indian Economy, 403–405. 
  75. ^ Datt, Ruddar & Sundharam, K.P.M.. "27", Indian Economy, 471–472. 
  76. ^ Bharadwaj, Krishna (1991). "Regional differentiation in India", in Sathyamurthy, T.V. (ed.): Industry & agriculture in India since independence. Oxford University Press, pp. 189–199. ISBN 0-19-564394-1. 
  77. ^ Sachs, D. Jeffrey; Bajpai, Nirupam and Ramiah, Ananthi (2002). "Understanding Regional Economic Growth in India". Working paper 88.
  78. ^ Kurian, N.J.. Regional disparities in india. Retrieved on 2005-08-06.
  79. ^ FDI in India Statistics. Retrieved on 2008-02-12.
  80. ^ Much of India's FDI is routed through Mauritius, because both countries have an agreement to avoid double taxation. India to sign free trade agreement with Mauritius. Retrieved on 2005-08-15.
  81. ^ Srinivasan, T.N. (2002). "Economic Reforms and Global Integration". 17 January 2002.
  82. ^ Datt, Ruddar & Sundharam, K.P.M.. "46", Indian Economy, 767,772–76. 
  83. ^ INDIA’S FOREIGN TRADE: APRIL-DECEMBER, 2007
  84. ^ India & the World Trade Organization. Retrieved on 2005-07-09.
  85. ^ India`s external debt rises to US$190.5bn
  86. ^ External Commercial Borrowings
  87. ^ Middle class in India has arrived
  88. ^ The Hinduonline
  89. ^ The Economist Freeing of Foreign Investment in India

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Pandit Jawaharlal Nehru (Hindi: , IPA: (November 14, 1889 – May 27, 1964) was a major political leader of the Congress Party, a pivotal figure in the Indian independence movement and the first Prime Minister of independent India. ... Cover of an edition of the Discovery of India The Discovery of India was written by Indias first Prime Minister Jawaharlal Nehru during his imprisonment in 1942-1946 at Ahmednagar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... is the 229th day of the year (230th in leap years) in the Gregorian calendar. ... Oxford University Press (OUP) is a highly-respected publishing house and a department of the University of Oxford in England. ... is the 275th day of the year (276th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 197th day of the year (198th in leap years) in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... is the 152nd day of the year (153rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 275th day of the year (276th in leap years) in the Gregorian calendar. ... is the 331st day of the year (332nd in leap years) in the Gregorian calendar. ... For the band, see 1997 (band). ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... is the 274th day of the year (275th in leap years) in the Gregorian calendar. ... The Goldman Sachs Group, Inc. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 277th day of the year (278th in leap years) in the Gregorian calendar. ... This article refers to the news department of the British Broadcasting Corporation, for the BBC News Channel see BBC News (TV channel). ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 26th day of the year in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 203rd day of the year (204th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 196th day of the year (197th in leap years) in the Gregorian calendar. ... Title is a legal term for an owners interest in a piece of property. ... This article is about sugar as food and as an important and widely-traded commodity. ... For other uses, see Textile (disambiguation). ... Shredded tobacco leaf for pipe smoking Tobacco can also be pressed into plugs and sliced into flakes Tobacco is an agricultural product processed from the fresh leaves of plants in the genus Nicotiana. ... is the 84th day of the year (85th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 210th day of the year (211th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 222nd day of the year (223rd in leap years) in the Gregorian calendar. ... is the 279th day of the year (280th in leap years) in the Gregorian calendar. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... is the 43rd day of the year in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... For other uses, see March (disambiguation). ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 217th day of the year (218th in leap years) in the Gregorian calendar. ... Reuters Group plc (LSE: RTR and NASDAQ: RTRSY); pronounced is known as a financial market data provider and a news service that provides reports from around the world to newspapers and broadcasters. ... is the 222nd day of the year (223rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 190th day of the year (191st in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 73rd day of the year (74th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 74th day of the year (75th in leap years) in the Gregorian calendar. ... Transparency International (TI) is an international organisation addressing corruption, including, but not limited to, political corruption. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 74th day of the year (75th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 218th day of the year (219th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 43rd day of the year in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... This article is about the day of the year. ... is the 17th day of the year in the Gregorian calendar. ... Also see: 2002 (number). ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 190th day of the year (191st in leap years) in the Gregorian calendar. ...

References

Prose contains specific citations in source text which may be viewed in edit mode.

Books
  • Nehru, Jawaharlal (1946). Discovery of India. Penguin Books. ISBN 0-14-303103-1. 
  • Kumar, Dharma (Ed.) (1982). The Cambridge Economic History of India (Volume 2) c. 1757 - c. 1970. Penguin Books. 
  • Sankaran, S (1994). Indian Economy: Problems, Policies and Development. Margham Publications. ISBN. 
  • Roy, Tirthankar (2000). The Economic History of India. Oxford University Press. ISBN 0-19-565154-5. 
  • Bharadwaj, Krishna (1991). "Regional differentiation in India", in Sathyamurthy, T.V. (ed.): Industry & agriculture in India since independence. Oxford University Press, pp. 189–199. ISBN 0-19-564394-1. 
Papers
  • Williamson, John and Zagha, Roberto (2002). "From the Hindu Rate of Growth to the Hindu Rate of Reform". Working Paper No. 144. Center for research on economic development and policy reform.
  • Centre for Media Studies (2005). "India Corruption Study 2005: To Improve Governance Volume – I: Key Highlights". Transparency International India.
  • Kelegama, Saman and Parikh, Kirit (2000). "Political Economy of Growth and Reforms in South Asia". Second Draft.
  • Cameron, John and Ndhlovu, P Tidings (2001). "Cultural Influences on Economic Thought in India: Resistance to diffusion of neo-classical economics and the principles of Hinduism".
  • Panagariya, Arvind (2004). "India in the 1980s and 1990s: A Triumph of Reforms".
  • Rodrik, Dani and Subramanian, Arvind (2004). "From “Hindu Growth” To Productivity Surge: The Mystery Of The Indian Growth Transition".
  • Bernardi, Luigi and Fraschini, Angela (2005). "Tax System And Tax Reforms In India". Working paper n. 51.
  • Gordon, Jim and Gupta, Poonam (2003). "Understanding India's Services Revolution". November 12, 2003.
  • Ghosh, Jayati. Bank Nationalisation: The Record. Macroscan. Retrieved on 2005-08-05.
  • Srinivasan, T.N. (2002). "Economic Reforms and Global Integration". 17 January 2002.
  • Sachs, D. Jeffrey; Bajpai, Nirupam and Ramiah, Ananthi (2002). "Understanding Regional Economic Growth in India". Working paper 88.
Government publications
  • Jawahar gram samriddhi yojana. Retrieved on 2005-07-09.
  • India & the World Trade Organization. Retrieved on 2005-07-09.
  • Economic Survey 2004–2005. Retrieved on 2005-07-15.
  • History of the Planning Commission. Retrieved on 2005-07-22.
  • Multiple authors (2004). "Agricultural Statistics at a Glance 2004".
  • Kurian, N.J.. Regional disparities in india. Retrieved on 2005-08-06.
News
  • "That old Gandhi magic", The Economist, November 27, 1997. 
  • "Indif_real_GDP_per_capitaa says 21 of 29 states to launch new tax", Daily Times, March 25, 2005. 
  • "Economic structure", The Economist, October 6, 2003. 
  • "Indian manufacturers learn to compete", The Economist, 12 February 2004. 
  • "India’s next 50 years", The Economist, August 14, 1997. 
  • "The plot thickens", The Economist, May 31, 2001. 
  • "The voters' big surprise", The Economist, May 13, 2004. 
  • Regional stock exchanges -- Bulldozed by the Big Two. Retrieved on 2005-08-10.
  • Infrastructure the missing link. Retrieved on 2005-08-14.
  • "Rural Employment Guarantee Bill passed by voice vote", Yahoo, August 23, 2005. [dead link]
  • "Of Oxford, economics, empire, and freedom", The Hindu, October 2, 2005. 
  • "Indian GDP expected to be 902 billion dollars", People's Daily Online, January 12, 2007. 
  • "India, now a $1-trillion economy!", Rediff, April 26, 2007. 
Articles
  • Economic Development of India. Retrieved on MAy 17, 2007.
  • Milton Friedman on the Nehru/Mahalanobis Plan. Retrieved on 2005-07-16.
  • Forex reserves up by $88mn. Retrieved on 2005-08-10.
  • CIA - The World Factbook. Retrieved on 2005-08-02.
  • Infrastructure in India: Requirements and favorable climate for foreign investment. Retrieved on 2005-08-14.
  • PPP GDP 2004. Retrieved on 2005-08-14.
  • Total GDP 2004. Retrieved on 2005-08-14.
  • Forbes Global 2000 (Ger-Ind). Retrieved on 2005-10-15.
  • Forbes Global 2000 (Ind-Jap). Retrieved on 2005-10-15.
  • John, Williamson (2006-05-11). The Rise of the Indian Economy. Retrieved on 2008-03-18.

Pandit Jawaharlal Nehru (Hindi: , IPA: (November 14, 1889 – May 27, 1964) was a major political leader of the Congress Party, a pivotal figure in the Indian independence movement and the first Prime Minister of independent India. ... Cover of an edition of the Discovery of India The Discovery of India was written by Indias first Prime Minister Jawaharlal Nehru during his imprisonment in 1942-1946 at Ahmednagar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 217th day of the year (218th in leap years) in the Gregorian calendar. ... is the 17th day of the year in the Gregorian calendar. ... Also see: 2002 (number). ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 190th day of the year (191st in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 190th day of the year (191st in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 196th day of the year (197th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 203rd day of the year (204th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 218th day of the year (219th in leap years) in the Gregorian calendar. ... is the 331st day of the year (332nd in leap years) in the Gregorian calendar. ... For the band, see 1997 (band). ... is the 84th day of the year (85th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 279th day of the year (280th in leap years) in the Gregorian calendar. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... is the 43rd day of the year in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... For the band, see 1997 (band). ... is the 151st day of the year (152nd in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 133rd day of the year (134th in leap years) in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 222nd day of the year (223rd in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... {| style=float:right; |- | |- | |} is the 235th day of the year (236th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 275th day of the year (276th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 12th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 116th day of the year (117th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 197th day of the year (198th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 222nd day of the year (223rd in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 214th day of the year (215th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 288th day of the year (289th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 288th day of the year (289th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 131st day of the year (132nd in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 77th day of the year (78th in leap years) in the Gregorian calendar. ...

External links

Wikimedia Commons has media related to:
Economy of India
Wikiquote has a collection of quotations related to:
Economy of India
Government of India websites
  • Finance Ministry of India
  • India in Business- Official website for Investment and Trade in India
  • Reserve Bank of India's database on the Indian economy
  • India Brand Equity Foundation
Reports and statistics
  • India and the Knowledge Economy - a World Bank Institute report.
  • Ernst & Young 2006 report on doing Business in India
  • CIA - The World Factbook -- India

Image File history File links Flag_of_India. ... Forestry is a major industry in India which faces the challlenges of dwindling forest cover area as India due overpopulation, farming and environmental factors. ... Fish production has increased more than fivefold since Indias independence and is a majory industry, especially in the coastal states. ... The automobile industry in India is the eleventh largest in the world with an annual production of approximately 2 million units. ... // The Union Finance Ministry of India comprises of four departments: Department of Economic Affairs Department of Expenditure Department of Revenue Department of Disinvestments DEA is mainly responsible for economic policies of the Government of India. ... The Ministry of Commerce and Industry administers two departments namely, The Department of Commerce and Department of Industrial Policy & Promotion. ... The Bombay Stock Exchange The Bombay Stock Exchange Limited (Marathi:मुंबई शेयर बाजार) (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in Asia. ... The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. ... The RBI headquarters in Mumbai The RBI Regional Office in Mumbai The RBI heaquarters in Delhi. ... Securities and Exchange Board of India (SEBI) is a board (corporate body) appointed by the Government of India in 1992 with its head office at Mumbai. ... This page describes economic and trade related terms and jargon used or originated in India. ... This is a list of banks throughout the world. ... This is a list of major companies based in India. ... Poverty alleviation Pradhan Mantri Gramoday Yojana Swarnjayanti Gram Swarojgar Yojana Sampoorn Gramin Rojgar Yojana Jawahar Gram Samridhi Yojana Rural employment generation Swarnjayanti Gram Swarojgar Yojana Sampoorn Gramin Rojgar Yojana Categories: Economy of India stubs | Economy of India ... Atomic Power Stations in India (view)  Active plants  Under construction plants India boasts a quickly advancing and active nuclear power program. ... // With about 300 clear sunny days in a year, Indias theoretical solar power reception, just on its land area, is about 5 EWh/year (i. ... As of April 2007 the installed capacity of wind power in India was 7,113. ...


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