WHAT IS ECONOMY ?INDIAN ECONOMYDIFFERENT SECTOR OF THE COUNTRYMEANING AND CAUSES OF RECESSIONINDIAN ECONOMY IN 2009-10ECONOMY QUIZ COMPETITION
An economy consists of the economic systems of a country or other area; the labor, capital and land resources; and the manufacturing, production, trade, distribution, and consumption of goods and services of that area.
The economy of India is the eleventh largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS.
AGRICULTURE INDUSTRY TEXTILE SERVICES AUTO MOBILE AVIATION
India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 15.7% of the GDP in 2009–10, employed 52.1% of the total workforce, and despite a steady decline of its share in the GDP, is still the largest economic sector and a significant piece of the overall socio-economic development of India.
India has one of the worlds fastest growing automobile industries. Shown here is the Tata Nano, the worlds cheapest car. Industry accounts for 28% of the GDP and employ 14% of the total workforce. In absolute terms, India is 12th in the world in terms of nominal factory output.
Second largest employer in India, next to agricultureGenerates employment opportunities forapproximately 33.17 million workers directly, and 54.85million workers indirectlyPunjab generating employment for 4,00,000 jobs hassuffered a 50% loss in sales
India has revenues of 10.9 billion used. 30 billion used from it and total BPO. 5-6% share of the total BPO industry. Employs more than 700,000 people. 35 percent of the BPO market worldwide. 13th in services output.
India is the worlds largest two wheeler manufacturer. India is the worlds second largest tractor manufacturer. India has the fourth largest car market in Asia. India has the worlds largest three wheeler market. India is fourth largest Automobile exporter in the world. Rashmi Verma
In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise.
Currency crisis Energy crisis War Overproduction Financial crisis
Indian companies have major outsourcing deals from the US. Indias exports to the US have also grown substantially over the years. For the first time in five years, India’s export growth has turned negative. Exports for October 2008 contracted by 15% on a year-on-year basis as over 40% of India’s export market had been slowing for months.
Composition of India’s GDP by Sector.Amount in Corers of Indian Rupees (10 Million) Agriculture, Forestry & Fishing 876,563.00 Minning Quarrying 129,671.00 Manufacturing 799,513.00 Electricity, Gas & Water Supply 80,440.00 Construction 437,768.00 Trade, Hotel, Transport & Communication 1,274,534.00 Financing, Insurance, Real Estate & Bus 700,943.00 Service Community, Social & Personal Services 690,373.00 Total Annual GDP 4,989,804. 00
Details 2008 2009 2010 2011 2012(Figures in per cent) 5.1 7.7 9.1 8.2 8.5Real GDP GrowthInflation 7.2 3.7 11.3 5.8 5.1Consumer Price Index 9.1 12.4 9.1 5.8 5.2Wholesale Price Index 8.0 3.6 8.1 5.7 5.5Short-Term Interest Rate* 9.6 4.9 6.7 7.6 7.6Long-Term Interest Rate** 7.6 7.3 7.8 7.9 7.9Fiscal Balance (per cent of GDP)^ -8.5 -9.6 -8.3 -7.4 -6.7Current Account Balance (per -2.4 -2.8 -3.2 -3.0 -2.9cent of GDP)Note:*Mumbai Three Month Offer Rate**10 Year Government Bond^Gross fiscal Balance for central and State Government. Rashmi VermaCPI for Industrial Workers
Which is included in Capital budget ?(A) Income received from public borrowings(B) Income received from tax-sources(C) Income received from non-tax sources(D) All of the above Where is Indian Diamond Institute (IDI) established ? (A) New Delhi (B) Mumbai (C) Surat (D) Jaipur
Process of economic development means— (A) Economic change (B) Social change (C) Ethical, institutional and cultural change (D) All of the aboveWhat is the main characteristic of a capitalist or free market economy ?(A) Individuals are the owners of factors of production(B) Profit is the main motive of carrying out various activities(C) Consumer freedom(D) All of the above
Which of the following is not a direct tax ?(A) Income tax(B) Property tax(C) Sales tax(D) House taxWhich government income is included in revenue budget ?(A) Tax-revenue(B) Non-tax-revenue(C) Both of above(D) None of the above