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Indias Economy

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  • 1. INDIA’S ECONOMY ON WORLD’S PLATFORM
    By-
    Shobhit asai
    9th
    International public school
  • 2. India is 12th largest economy in the world by market exchange rate
    It’s also 4th largest economy in terms of PPP
    INTRODUCTION
  • 3. History of India’s economy
    From ancient times, India drove world economy through spice trade, textiles etc
    In colonial era, India was bought under a taxation type system that generated huge revenue for British raj
  • 4. Economy of India till 1990
    India’s economy was influenced from socialist type of economy involving protectism, state intervention in labour and financial market.
    Mining, machine tools, water, telecommunications, insurance, and electrical plants, among other industries, were effectively nationalized in the mid-1950
  • 5. Graph view
  • 6. India’s Economy today
    In 1984, government under Rajiv Gandhi started economic reforms .They removed corporate tax and price control.
    These reforms led to transfer to market based economy
    While this increased the rate of growth, it also led to high fiscal deficits and a worsening current account. 
  • 7. Why was reform needed?
    The reforms introduced by Rajiv Gandhi mainly aimed at accelerating growth rate to lower unemployment but it also led to high fiscal deficits and a worsening current account.
    Collapse of India's main business partner USSR and increase in oil prices led to major balance-of-payment crisis
    India asked IMF for 1.8 billion us$ loan which demanded reform.
  • 8. SECTORS
    There are various sectors on which India's economic growth depends.
    Agriculture
    Industry and services
    Bank and finance
    Natural resources
    External trade
  • 9. Present Economic growth
    India’s economy has been one of the stars of global economics in recent years, growing 9.2% in 2007 and 9.6% in 2006. Growth had been supported by markets reforms, huge inflows of FDI, rising foreign exchange reserves, both an IT and real estate boom, and a flourishing capital market
  • 10. Current Position
    India’s Economy has grown by more than 9% for three years running, and has seen a decade of 7%+ growth. This has reduced poverty by 10%, but with 60% of India’s 1.1 billion population living off agriculture and with droughts and floods increasing, poverty alleviation is still a major challenge. 
  • 11. Failures
    Like most of the world, however, India is facing testing economic times in 2008. The Reserve Bank of India had set an inflation target of 4%, but by the middle of the year it was running at 11%, the highest level seen for a decade. The rising costs of oil, food and the resources needed for India’s construction boom are all playing a part.
  • 12. Impact of Crisis
    The country's banks seem stable compared to their counterparts in richer countries.
    Bollywood is thriving as the stuff of dreams continues to sell even in hard times.
  • 13. Impact of financial crisis
    Most Indians typically spend their entire lives saving for a house even if it takes them 20 years to do that. Seldom do they take loans [just] to finance their lifestyle.
    That domestic demand doesn't slump
  • 14. What’s the recent figures?
    According to the World Trade Statistics of the WTO in 2006, India's total merchandise trade (counting exports and imports) was valued at $294 billion in 2006 and India's services trade inclusive of export and import was $143 billion
  • 15. Future Of Indian Economy
    In the revised 2007 figures, based on increased and sustaining growth, more inflows into foreign direct investment, Goldman Sachs predicts that "from 2007 to 2020, India’s GDP per capita in US$ terms will quadruple", and that the Indian economy will surpass the United States (in US$) by 2043.
  • 16. Conclusion
    Being a citizen of a emerging super power we need to lower unemployment, corruption and economic disparities.
    There are yet many challenges to face, we need to get ahead in HDI as we are lacking much behind.
    Other aspect such as population control, Black money should also be controlled
  • 17. THANK YOU

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