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Recent development in indian economy rivha


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Recent development in indian economy rivha

  2. 2. OVERVIEW OF INDIAN ECONOMY: The Indian economy has transformed into a vibrant, rapidly growing consumer market, comprising over 300 million strong middle class with increasing purchasing power. An abundant and diversified natural resource base, sound economic, industrial and market fundamentals and highly skilled and talented human resources, make India a destination for business and investment opportunities with an assured potential for attractive returns.
  3. 3. DEFINING ECONOMIC GROWTH : Economic growth is increase in the amount of the Goods and Services produced by an economy over time. Growth rate of GDP: [GDP(2010)- GDP(2011)]/GDP(2010)*100]
  4. 4. G.D.P DURING THE LAST THREE YEARS :GDP Growth Year2007 9.4%2008 7.3%2009 5.4%2010 7.2%
  5. 5. SECTOR OF THE INDIAN ECONOMY : Primary Sector Secondary Sector Tertiary Sector
  6. 6. PRIMARY SECTOR : Activities undertaken by directly using natural resources. Example—Agriculture, Mining, Fishing, Forestry, Dairy etc. It is called primary sector because it forms the base for all other products that we subsequently make.
  7. 7. SECONDARY SECTOR : It covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity. It is a next step after primary, where the product is not produced by nature but has to be made. Some process of manufacturing is essential, it could be in a factory, a workshop or at home.
  8. 8. TERTIARY SECTOR : These are the activities that help in the development of the primary & secondary sector. These activities by themselves do not produce good but they are an aid and support to the production process. Example: Transportation, Goods that are produced in the primary sector need to be transported by trucks or trains and than sold in the wholesale and retail shops.
  9. 9. AGRICULTURE : Agriculture Largest Producer Of Tea, India accounts of 14% of the world trade in tea. Highest in terms of total milk production in the world. Third largest producer of cereals in the world: - Wheat , Rice and Pulses
  10. 10. SERVICE SECTORS IN INDIA : Trade Hotels and Restaurants Railways Other Transport & Storage Communication (Post, Telecom) Banking Insurance Dwellings, Real Estate Business Services Public Administration, Defense Personal Community Services Other Services
  11. 11. TELECOMMUNICATIONS : 20% Growth rate(crossed 10 millions). Fifth largest network in the world. People below poverty line uses cell phones. Maximum Public telephone Booths.
  12. 12. SECTORIAL CONTRIBUTIONS IN GDP &EMPLOYMENTS :Sector GDP(%) Employment(%)Agricultural 17.5% 52%Industrial 20% 14%Service 62.6% 34%
  13. 13. HIGHLIGHTS OF ECONOMIC SURVEY 2011-12 Rate of growth estimated to be 6.9%. Outlook for growth and stability is promising with real GDP growth expected to pick up to 7.6% in 2012-13 and 8.6% in 2013-14. Agriculture and Services sectors continue to perform well. 2.5 % growth in Agro sector forecast. Services sector grows by 9.4 %, its share in GDP goes up to 59%. Industrial growth pegged at 4-5 percent, expected to improve as economic recovery resumes. Food inflation dropped from 20.2% in February 2010 to 1.6% in January 2012.
  14. 14. HIGHLIGHTS OF ECONOMIC SURVEY 2011-12 Savings & capital formation expected to rise. Exports grew @ 40.5% in the first half of this fiscal and imports grew by 30.4%. Foreign trade performance to remain a key driver of growth. Central spending on social services goes up to 18.5% this fiscal from 13.4% in 2006-07. Sustainable development and climate change concerns on high priority.