Economy of India

3/19/2015 IndiaEconomy

http://www.mapsofindia.com/economy/ 1/10

IndiaTravel

Business

Utilities

Newsletter

MapGame

Education

Search: Search

HomeIndiaEconomySelectCity,StateorU.T. Go

MapsofIndia

MapofIndiaPhysicalMapofIndiaOutlineMapofIndia

more...IndiaMapsAndViews

AboutIndiaIndiaGeographyHistoryofIndiaIndiaCensusMapsBusinessandEconomyIndiaCulture

more...TransportNetworkInIndia

RoadMapofIndiaIndiaRailNetworkAirNetworkinIndiaPortsinIndia&waterways

more...IndiaTravel

HotelsinIndiaTemplesinIndiaHillStations

more...IndiaStates&UnionTerritories

StateProfiles



KeralaGoaGujaratRajasthan

more...CitiesOfIndia

Top10CitiesofIndiaBangaloreMumbaiChennai

more...DrivingDirectionMaps

NationalHighwaysIntraCityMaps

more...WorldMapProduct&Services

MapsofIndiaCDCustomMappingLocationLocatorSolutions

more...OurChannels

IndiaAutomobilesIndiaCricketIndiaNews

IndienKarten

KartenvonGoaLandkartenvonKeralaLandkartenvonRajasthan

more...



IndiaEconomy

SmallInvestmentOptionsInvestinbestSIPplansinjust2Mins&availhighreturns.

TheIndiaeconomy,thethirdlargesteconomyintheworldintermsofpurchasingpower,isgoingtotouchnewheightsincomingyears.AspredictedbyGoldmanSachs,theGlobalInvestmentBank,by2035IndiawouldbethethirdlargesteconomyoftheworldjustafterUSandChina.Itwillgrowto60%ofsizeoftheUSeconomy.Thisboomingeconomyoftodayhastopassthroughmanyphasesbeforeitcanachievethecurrentmilestoneof9%GDP.

ThehistoryofIndianeconomycanbebroadlydividedintothreephases:PreColonial,ColonialandPostColonial.

PreColonial:TheeconomichistoryofIndiasinceIndusValleyCivilizationto1700ADcanbecategorizedunderthisphase.DuringIndusValleyCivilizationIndianeconomywasverywelldeveloped.Ithadverygoodtraderelationswithotherpartsofworld,whichisevidentfromthecoinsofvariouscivilizationsfoundatthesiteofIndusvalley.

BeforetheadventoftheEastIndiaCompany,eachvillageinIndiawasaselfsufficiententityandwaseconomicallyindependentasalltheeconomicneedswerefulfilledwithinthevillage

ColonialIndianEconomy:ThearrivaloftheEastIndiaCompanyinIndiacausedahugestraintotheIndianeconomyandtherewasatwowaydepletionofresources.TheBritishwouldbuyrawmaterialsfromIndiaatcheaperratesandthefinishedgoodsweresoldathigherthannormalpriceinIndianmarkets.DuringthisphaseIndia'sshareofworldincomedeclinedfrom22.3%in1700ADto3.8%in1952.

PostColonialIndianEconomy:AfterIndiagotindependencefromcolonialrulein1947,theprocessofrebuildingtheeconomystarted.Forthisvariouspoliciesandschemeswereformulated.FirstfiveyearplanforthedevelopmentofIndianeconomycameintoimplementationin1952.TheseFiveYearPlans,startedbyIndiangovernment,focusedontheneedsoftheIndianeconomy.



Ifononehandagriculturereceivedtheimmediateattentionontheotherhandtheindustrialsectorwasdevelopedatafastpacetoprovideemploymentopportunitiestothegrowingpopulationandtokeeppacewiththedevelopmentsintheworld.SincethentheIndianeconomyhascomealongway.TheGrossDomesticProduct(GDP)atfactorcost,whichwas2.3%in195152reached6.5inthefinancialyear20112012

Tradeliberalization,financialliberalization,taxreformsandopeninguptoforeigninvestmentsweresomeoftheimportantsteps,whichhelpedIndianeconomytogainmomentum.TheEconomicLiberalizationintroducedbyManMohanSinghin1991,thenFinanceMinisterinthegovernmentofPVNarsimhaRao,provedtobethesteppingstoneforIndianeconomicreformmovements.

TomaintainitscurrentstatusandtoachievethetargetGDPof10%forfinancialyear200607,theIndianeconomyhastoovercomemanychallenges.

ChallengesbeforeIndianeconomy:

Populationexplosion:TherisingpopulationiseatingintothesuccessofIndia.Accordingto2011censusofIndia,thepopulationofIndiahascrossedonebillionandisgrowingatarateof2.11%approx.Suchavastpopulationputslotsofstressoneconomicinfrastructureofthenation.ThusIndiahastocontrolitsburgeoningpopulation.Poverty:AsperrecordsofNationalPlanningCommission,36crorepeoplearelivingbelowthepovertylineinIndiain2012.Unemployment:Theincreasingpopulationispressinghardoneconomicresourcesaswellasjobopportunities.IndiangovernmenthasstartedvariousschemessuchasJawaharRozgarYojna,andSelfEmploymentSchemeforEducatedUnemployedYouth(SEEUY).Buttheseareprovingtobeadropinanocean.RuralUrbanDivide:ItissaidthatIndialiesinvillages,eventodaywhenthereislotsoftalkgoingaboutmigrationtocities,70%oftheIndianpopulationstilllivesinvillages.Thereisaverystarkdifferenceinpaceofruralandurbangrowth.Unlessthereisn'tabalanceddevelopmentIndianeconomycannotgrow.

Thesechallengescanbeovercomebythesustainedandplannedeconomicreforms.

Theseinclude:

MaintainingfiscaldisciplineOrientationofpublicexpendituretowardssectorsinwhichIndiaisfaringbadlysuchashealthandeducation.IntroductionofreformsinlabourlawstogeneratemoreemploymentopportunitiesforthegrowingpopulationofIndia.Reorganizationofagriculturalsector,introductionofnewtechnology,reducingagriculture'sdependenceonmonsoonbydevelopingmeansofirrigation.Introductionoffinancialreformsincludingprivatizationofsomepublicsectorbanks.

India'sGDPratesince195114:

YearsAgriculture,forestry&fishing,miningandquarrying(in%)

Manufacturing,construction,electricity,gasandwaterSupply(in%)

Trade,hotels,transport&Communication(in%)

Financing,insurance,realestateandbusinessServices(in%)

Community,Social&PersonalServices(in%)

Grossdomesticproductatfactorcost(in%)

195152 1.9 4.6 2.6 2.3 3 2.3

195253 3.1 0.4 3.3 4.2 2.1 2.8

195354 7.5 6.2 3.7 1.4 3.1 6.1

195455 3 8.8 6.5 3.7 3.6 4.2

195556 0.8 11.7 7.3 4 3.1 2.6

195657 5.4 9 7.3 1.6 3.8 5.7

195758 4.1 1.8 3.1 3.8 4.5 1.2

195859 9.8 7.4 5 2.8 4.1 7.6

195960 0.8 7 6.3 3.8 4.3 2.2

196061 7.1 10.8 8.6 2.1 4.9 7.1

196162 0.3 6.9 6.5 4.3 4.7 3.1

196263 1.4 6.2 5.9 3.4 7.1 2.1

196364 2.4 10.7 7.1 3.1 6.6 5.1

196465 8.8 7.4 6.8 2.7 6.6 7.6

196566 9.9 3.2 1.8 3 4 3.7

196667 1.2 3.7 2.6 1.8 4.6 1

196768 14.1 3.3 4.3 2.7 3.9 8.1

196869 0 5.1 4.5 4.9 4.5 2.6

196970 6.3 7.8 5.4 4.2 5.5 6.5

1970



71 6.3 1.6 4.9 4.2 5.5 5

197172 1.7 2.5 2.3 5.2 4.5 1

197273 4.4 3.4 2.2 3.9 3.3 0.3

197374 6.9 0.5 4.2 2.4 2.6 4.6

197475 1.2 1 6 0.3 4.7 1.2

197576 12.8 6.5 9.1 6.9 3.5 9

197677 5.2 9.3 4.5 7.9 2.8 1.2

197778 9.6 7.4 6.7 4.9 2.7 7.5

197879 2.3 7.3 8.2 7.1 4.3 5.5

197980 11.9 3.6 0.8 1 7.3 5.2

198081 12.8 4.5 5.6 1.9 5 7.2

198182 5.2 7.4 6.1 8.1 2.1 5.6

198283 0.6 0.2 5.5 9.5 7.7 2.9

198384 9.5 8.5 5.1 9.8 3.7 7.9

198485 1.6 4.4 4.8 7.5 6.9 4

198586 0.7 4.3 8 9.8 5.7 4.2

198687 0.6 4.9 6 10.5 7.5 4.3

198788 1.1 5.8 5.1 7.3 7.2 3.5

198889 15.7 8.2 6 9.8 6 10.2

198990 1.8 8.4 7.4 12.4 7.9 6.1

199091 4.7 6.9 5.2 6.2 4.4 5.3

199192 1.4 0.1 2.3 10.8 2.6 1.4

199293 6 3.6 5.6 5.4 6 5.4

199394 3.1 6.1 6.9 11.2 4.5 5.7

199495 5.2 9.1 9.9 3.9 2.3 6.4

199596 0 12 13.4 8.1 7.3 7.3

199697 8.9 7.2 8.1 6.2 8.1 8

199798 1.3 3.3 7.5 11.7 8.3 4.3

199899 5.9 4.3 7.7 7.8 9.7 6.7

199900 2.8 6.2 11.4 13 12 8

200001 0.3 6.5 6.4 3.5 4.6 4.1

200102 5.5 2.7 8.6 6.2 4 5.4

200203 4.9 7.1 8.3 7.2 3.8 3.9

200304 8.2 7.9 11.2 5.3 5.3 8

200405 1.1 10 9.5 7.7 6.8 7.1

200506 4.6 10.7 12 12.6 7.1 9.5

200607 4.6 12.7 11.6 14 2.8 9.6

200708 5.5 10.3 10.9 12 6.9 9.3

200809 0.4 4.7 7.5 12 12.5 6.7

2009



BlogsaboutIndianEconomy

readmore...

ThecurrentBusinessClimate in India: Is itconduciveforgrowth?:ThepastfewyearshavenotbeenveryfavourableforIndia.WithGrossDomesticProductcrawlingatlessthan5percentandtheburdenofhugefiscaldeficitonitsshoulders,thegrowthstoryofIndiawasnotsomethingto be proud of. India was no longer shining. Everyone was lookingforward for a change and the expectation from the newly electedNarendra Modi government that came to power in May 2014 wasimmense.Not

readmore...

100DaysofModiSarkarDay48:Therehavebeenseveralpositiveaspects of the initial budget presented by the National DemocraticAlliancegovernment and this canbeunderstood from thewaypeoplehavereactedtothesame.ThesalariedclassisespeciallyhappywiththeincreaseinthetaxexemptionlimitfromINR2lakhinayeartoINR2.5lakh. The retired professionals are appreciative of the fact that theirpensionshaveincreasedbysomedegreethusprovidingthem

readmore...

Will El Nino Hit The Brakes On Indias Growth Story? :What is ElNino?TheElNino(SpanishTheLittleOne)isaweatherphenomenonthatoccurseverytwotosevenyearsandlastsforalmostayear.Duringthis period, the east equatorial Pacific Ocean waters tend to becomeunusuallywarmandthisaffectswindpatternscausingabnormalrainfallinmany parts of theworld. The years that theElNino strikeswitnessexcessiverainfallinsomepartsoftheworldanddroughts

readmore...

100DaysofModiSarkarDay39:AsofnowtheIndianGovernmentandtheKeralaGovernmentaredeeplyconcernedabouttheconditionofthe46nurseswhoaresurvivingsomehowinIraq.Thisinformationhasbeen revealed byOommenChandywho had ameetingwith SushmaSwarajregardingtheissue.ThenursesinquestionarestrandedinTikritandhavenotbeenabletogetagoodnightssleepinthelastcoupleofdays.Theyhavealsonotavailedthe

readmore...

100DaysofModiSarkarDay38:Onthe38thdayofNarendraModisreignSingapore has offered assistance to India as far as constructingsmart cities across the country is concerned. In fact this is one of thedreams that thePrimeMinisterhasnurtured.Theyet tobeannouncedbudgetisexpectedtoplayamajorroleinthisconsideringtheimportanceofbenefitsitprovidesintheendtoinvestorsfromoutsidethecountry.KShanmugam,theForeignMinister

10 1.5 9.5 10.4 9.7 11.7 8.6

201011(3R)8.3 7.6 12.2 10 4.2 8.9

201112(2R)4.4 8.5 4.3 11.3 4.9 6.7

201213(1R)1 1.2 5.1 10.9 5.3 4.5

201314(PE)4 0.5 3 12.9 5.6 4.7

Followuson



ApolloMunichInsuranceGetInsuredfromApolloMunich,CashlessFacility@4000+Hospitals

Documents

Economy of India