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Indian Economy


Start up Points on Indian Economy

Start up Points on Indian Economy

Published in Education , Business , Technology
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  • 1. WELCOME gRAAHYA-13 Sun Degree & PG College
  • 2. Indian Economy Presented By D.Radha
  • 3. Contents  How Does an Economy Work?  Indian Economy Rankings  India : A Mixed Economy  Various Reasons  Graphs  GDP  National Income  Inflation  Conclusion
  • 4. How Does An Economy W ork?  Nations must answer 3 basic Economic question:  W goods and services should be produced? hat  How should the goods and services be produced?  For who should the goods and services be produced?  The way a nation answers these questions defines their economy.
  • 5. Indian Economy Rankings The economy of India is the tenth 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. India ranked 119th by economy in world.
  • 6. India : A Mixed Economy Post Independence (1947), Pandit Jawaharlal Nehru proposed the idea of “Mixed Economy”. Initial motive: to reduce social and economic stress. Priority on “Economic growth with social justice”. Commanding role of state in industrial production and import substitution strategy. Role in agriculture limited to infrastructure development, irrigation and trade. Resulting low GDP at 3-4% p.a. Finally, Balance of payment crisis of 1991 initiated Economic Liberalization.
  • 7. Various Reasons Development reasons: Slowdown reasons: Agriculture sectors High Inflation Healthy for ex reserves Corruption Service sectors Earnings slowdown Political consensus on reforms Duplicate notes Rising gap between rich and poor states
  • 8. Gross Domestic product (GDP) GDP is a total income by total population. GDP growth GDP per capita GDP by sector 3.986% (2012–13) $1,491 (nominal: 141st; 2012) $3,829 (PPP: 130th; 2012) agriculture: 17.4%, industry: 25.8%, services: 56.9% (2012 est.) Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Growth (real) (%) 5.6 6.0 4.3 8.3 6.2 8.4 9.2 9.0 7.4 7.4 10.1 6.8 6.5 4.4
  • 9. Sectoral Composition of Indian GDP (2010-2011) Economy Principal Source of Work/ Income Security in India Industry 12% Services 30% Agriculture 58% Contents India Size 3,287,263 km² Population 1.2 Billion GDP (2012-13) 1.84 trillion GDP/capita $1,502.71
  • 10. National Income “ A national income estimate measures the volume of commodities and services turned out during a given period counted without duplication.” It is the money value of the flow of goods and services available in an economy in a year National Income refers to-The income of a country to a specified period of time, say a year, includes all types of goods and services, which have an exchange value, counting each one of them only once
  • 11. Inflation Inflation is a state of persistent rise in prices. The inflation rate in India was recorded at 6.46 percent in September of 2013.  Inflation Rate in India is reported by the Ministry of Commerce and Industry, India.  1969 until 2013, India Inflation Rate averaged 7.7 Percent reaching an all time high of 34.7 Percent in September of 1974 and a record low of -11.3 Percent in May of 1976.
  • 12. Conclusion Finally I concluded that if these problems are solved then the future for India looks bright, India might well become one of the superpowers of the 21st Century. India- A country with Potentials for ‘sustaining’ development!!
  • 13. THANK YOU Any Queries ?