1. The definition of developed countries countries
2. The indicators of classification of developed countries
3. The characteristics of developed countries
4. Some examples of developed countries
5. The impact of developed and developing countries on the Indonesian economy
Characteristics of underdeveloped economiesGeorgi Mathew
discussing the features of under developed or developing countries with special reference to India. helpful for school and college who try to understand the characteristics of Indian economy from the angle of developing economy.
1. The definition of developed countries countries
2. The indicators of classification of developed countries
3. The characteristics of developed countries
4. Some examples of developed countries
5. The impact of developed and developing countries on the Indonesian economy
Characteristics of underdeveloped economiesGeorgi Mathew
discussing the features of under developed or developing countries with special reference to India. helpful for school and college who try to understand the characteristics of Indian economy from the angle of developing economy.
What is Development? What are the indicators of development? What are indices of Development? What is GDP, GNP, GNI etc.? How do we measure development? Find the answers of these questions in this presentation. Learn about Human Development index. Know the criteria to measure development.
Economic Development Indicators, indices and HDIShahzaib Khan
Studying development is about measuring how developed one country is compared to other countries, or to the same country in the past. Development measures how economically, politically, socially, culturally or technologically advanced a country is. There are a few indices and economic development indicators to measure development.
In economics, the cycle of poverty is the “Set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention“. The poverty cycle can be called the “Development trap" when it is applied to countries.
Indian Economic Development is a core subject of Under Graduate-Economics course in most of Indian University syllabus, This my first slide, carries a topic of Economic Growth and Development. It covers the basic concepts of the meaning of economic growth and development, Indicators of economic development, Major obstacles of economic development, Characteristics of underdeveloped and developed countries, Comparison/Distinguished between Developed and Underdeveloped countries. I am very much confident that this slide is going to cater to the needs of the students.
Dr. K.Santhosh Krishnan,
Assistant Professor,
Department of Economics,
Guru Nanak College (Autonomous)
Velachery, Chennai.
What is Development? What are the indicators of development? What are indices of Development? What is GDP, GNP, GNI etc.? How do we measure development? Find the answers of these questions in this presentation. Learn about Human Development index. Know the criteria to measure development.
Economic Development Indicators, indices and HDIShahzaib Khan
Studying development is about measuring how developed one country is compared to other countries, or to the same country in the past. Development measures how economically, politically, socially, culturally or technologically advanced a country is. There are a few indices and economic development indicators to measure development.
In economics, the cycle of poverty is the “Set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention“. The poverty cycle can be called the “Development trap" when it is applied to countries.
Indian Economic Development is a core subject of Under Graduate-Economics course in most of Indian University syllabus, This my first slide, carries a topic of Economic Growth and Development. It covers the basic concepts of the meaning of economic growth and development, Indicators of economic development, Major obstacles of economic development, Characteristics of underdeveloped and developed countries, Comparison/Distinguished between Developed and Underdeveloped countries. I am very much confident that this slide is going to cater to the needs of the students.
Dr. K.Santhosh Krishnan,
Assistant Professor,
Department of Economics,
Guru Nanak College (Autonomous)
Velachery, Chennai.
Dr.C.Muthuraja's 'Economic Growth Rate in India : Issues and Concerns' Chinnasamy Muthuraja
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Business economics, also known as managerial economics, is a branch of economics that applies economic theory and principles to business decision-making. It involves the use of economic analysis to solve various business problems, optimize resource allocation, and make effective managerial decisions. Business economics focuses on understanding how businesses operate in the market and how they can make the best use of limited resources to achieve their objectives.
Key aspects of business economics include:
Demand and Supply Analysis: Analyzing the demand for a company's products or services and understanding how it interacts with the supply available in the market. This analysis helps in determining the optimal pricing and production levels to maximize profits.
Cost Analysis: Understanding the various costs involved in production, such as fixed costs, variable costs, and opportunity costs. Businesses use cost analysis to identify cost-effective strategies and achieve cost efficiency.
Pricing Strategies: Determining the most suitable pricing strategies that consider factors like production costs, customer demand, competitor pricing, and market conditions. Pricing decisions impact a company's revenue and market position.
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It gives me a pleasure to present the summary of India Budget Synthesis 2014.
While you may already have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2014 on You, Your Company and Your Sector.
Hope you find this analysis useful in taking clearer business decisions and align your company's strategy with the overall economic climate in the balance part of financial year 2014-15.
Would love to hear your feedback on the usefulness of the same.
Dear Friends,
It gives us a pleasure to present the summary of India Budget Synthesis 2014.
While you may already have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2014 on You, Your Company and Your Sector.
Hope you find this analysis useful in taking clearer business decisions and align your company's strategy with the overall economic climate in the balance part of financial year 2014-15.
Would love to hear your feedback on the usefulness of the same."
Regards,
Vishal Thakkar | Group Head - Corporate Relations | Synthesis Group
Hand Phone: 91 9320007891 | Boardline: 91 22 24093737 | Fax: 91 22 24093737
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2. INTRODUCTION
• India is increasingly becoming a strategic player on the
global platform and is playing a vital role in shaping-up the
international economy’s dynamics. The country is making
its mark as one of the fastest growing economies.
• The economy of India is the tenth-largest in the world by
nominal GDP and the third-largest by purchasing power
parity (PPP)
• Gross domestic product (GDP) is the market value of all
officially recognized final goods and services produced
within a country in a given period of time
• GDP 2011- $1.710 trillion
• GDP 2012 - $1.842 trillion
• Est. GDP growth rate 2013– 5% to 5.5%
3.
4. • The per capita income at current price during 2012-13 is Rs.
68,747 as compared to Rs. 61,564 during 2011-12.
• Net national income-Net national income encompasses the
income of households, businesses, and the government.
NNI = Consumption +Investments+Government spending +net
exports (exports minus imports) +net foreign factor income indirect taxes - manufactured capital depreciation
Rs.47,64,819 crore (2012)
• Exchange rate
1 Indian Rupee equals=0.016 US Dollar
1 US Dollar=63.24 indian rupee
• Bank Rate is 8.75% (w.e.f. 29/10/2013)
• Cash Reserve Ratio (CRR) 4.00% (wef 09/02/2013) announced on 29/01/2013
• Statutory Liquidity Ratio (SLR) is 23%(w.e.f. 11/08/2012)
• Agriculture: In the GDP for 2012-13, the growth was at a threeyear low of 1.8 per cent against 2011 3.6 per cent.
5. • Unemployment rate- 9.9% (2012)
9.8% (2011)
• Population below poverty line-29.8%
• Labor force - by occupation:agriculture: 53%
,industry: 19% ,services: 28%.
• Imports-$500.3 billion (2012 )
• Exports-$309.1 billion (2012 )
• Literacy: Total population: 74.04 per cent (data-2011
census) Male:82.14 per cent Female:65.46 percent
• Foreign Direct Investment (FDI): FDI have declined during
2012-13 for the period April to December of the current
fiscal, the inflows have been $16,946 million which were
$29, 277 million during April to December 2011
• Budget: revenues: $171.5 billion
expenditures: $281 billion (2012)
6. India - GDP - composition by sector
• 2013 January
agriculture: 17.2%
industry: 26.4%
services: 56.4%
• 2012 january
agriculture: 19%
industry: 26.3%
services: 54.7%
7.
8. INFLATION
We can use Nominal GDP and Real GDP to calculate the Price Level (A measure of the
average prices of goods and services in the economy.)
We can use the growth rate formula to calculate the Inflation Rate (the Inflation Rate is
The percentage increase in the price level from one year to the next.)
The WEO report expects annual average consumer price inflation at 10.9% (compared to
10.4% in 2012-13).
A case for Producer Price Index:
•A Producer Price Index (PPI) measures the average changes in prices received by domestic
Producers for their output.
•Former Governor of the RBI ,D.Subbarao proposed the need to develop a series of PPI that
Would help gauge how price momentum builds up in the economy.
•The Wholesale Price Index(WPI) is the price of a representative basket of wholesale goods.
•Some countries (like India and The Philippines) use WPI changes as a central measure of
Inflation.
•The WPI focuses on the price of goods traded between corporations ,rather than goods
bought by consumers , which is measured by the Consumer Price Index.
9. India’s Current Account Woes
•The trade balance is the difference between exports and imports of goods and services.
Add “net income from abroad” (like transfers) and we have the current account.
•Alternatively, the gross domestic product (GDP) less total expenditure by all the sectors
(consumption investment and government expenditure on currently produced goods) gives
us the trade balance.
•Add net income from abroad to both the sides to get gross national product (GNP) less
total expenditure as the current account of the balance of payments.
•A slight manipulation of this gives us total savings minus investment which is identically
equal to the current account.
•A current account deficit is then our negative saving vis-à-vis the rest of the world.
•Currently, CAD is 4.9% of the GDP ($92.7 billion),expected to be lowered to 4.4% for the
full year.
10. Fiscal Deficit
Fiscal Policy: This refers to revenue and expenditure policy of the Govt. to achieve desired
objectives of the society.
Fiscal Deficit can be simply said as the total borrowings of the Govt.
Total Borrowings = Borrowings from Market/Public + Borrowings from RBI
Budget Deficit = Borrowings from RBI
= Fiscal Deficit -- Borrowings from Market
Monetized Deficit: It is a part of budget deficit that the RBI gives the Govt. by printing
currencies.
Interest Payment is a very big public expenditure. Interest paid in a particular year is due
to borrowings of the previous year. They form a part of debt.
Currently, Debts form a massive 82% of the RGDP.
11. NATIONAL FOOD SECURITY BILL
•Aims to give right to subsidized food grain to 67 percent of India’s population, roughly
82 crore people.
•Up to 75 percent of the rural population and up to 50 percent of the urban population will
have uniform entitlement of 5kg of food grain per month, at Rs 3, Rs2 , Rs1 for rice, wheat
and coarse grain respectively.
•The poorest of poor households would continue to receive 35 kg of food grain per month
under AAY.
•Identification of eligible households has been left to the states/UTs ,which may frame their
own criteria or use Socio Economic and Caste Census.
Concerns:
•The program is projected to push up India’s fiscal deficit to 5.1% of GDP in the current
fiscal year. The Govt. has promised to keep that deficit under 4.8%.
•Extending the PDS may provide another channel for leakages.
•Political controversy after claims that the bill makes state governments equally responsible
for implementing scheme.
•Elsewhere: South Africa, Nepal, Brazil
12. Current issues Capsule
•India and Japan decided to treble their currency swap arrangement from$15 billion to $50
billion in a move seen as sending an important signal for the Rupee.
•In its release of Trade and Development report 2013 , the United Nations Conference on
Trade and Development said the Indian economy is expected to grow at 5.2% in calendar year
2013.
•Operators of illegal money-pooling schemes (like Ponzi) will soon face penalties of up to 3
times the Profit made by them ,as against the current provision of a meager fine of Rs.1 crore.
•Companies can use the External Commercial Borrowing(ECB) for general corporate purposes.
•Himachal Pradesh and Karnataka have been given consent to implement the FDI policy on
multi-brand retail trading,12 more states in line.
13. Contd…
•The Reserve Bank of India kept the repo rate unchanged at 7.25% and CRR at 4% ,signaling
its determination to quell volatility in the foreign exchange market, while announcing the
first quarter review of monetary policy for 2013-14.
•Rajya Sabha ratified The Companies Bill,2012 ,as passed by the Lok Sabha about 8 months ago
New features:
Companies need to earmark 2% of their net profits towards CSR every year.
One woman board seat mandatory
•India Overseas Investment Corporation to function as a development finance institution with
the specific mandate to provide equity and debt to Indian PSEs for securing national sources
abroad.
14. Phoney financial inclusion
• Come January 2014, if the Reserve Bank of India (RBI)
sticks to its timeline for the award of new bank licences,
then a couple of entities of the country’s big corporate
houses, for instance, Tata Sons, Aditya Birla Nuvo and
Reliance Capital, could well be floating commercial
banks.
• RBI governor D Subbarao argued that the circumstances
had changed – the financial sector, the corporate sector,
“our understanding of regulation”, regulatory capacity,
etc – and so the guidelines had to be revised.
15. Continued…
• The evolving nexus of politics and business, the public sector
banks (PSBs) soon became accountable to a business-oriented
elite that was (and remains) antithetical to democratic control
of the financial system.
• The RBI is presently accountable to a business oriented elite
that is linked to powerful sections of the polity. The changes in
banking policy that we are suggesting can only come about
with democratic control of the central bank by the public, for
which a political movement has to take shape.
16. Shadow Banking
• According to the Financial Stability Board (FSB), it is “A system
of credit intermediation that involves entities and activities
outside the regular banking system, and raises systemic risk
concerns and regulatory arbitrage concerns” (2011).
• The shadow banking system depends on wholesale funding,
which is extremely unstable and renders the system very
fragile, as evidenced by the crisis. (By –UNCTAD reports 2011)
• The shadow banking system is a web of specialised financial
institutions that channel funding from savers to investors
through a range of securitisation and secured funding
techniques (by Adrian and Ashcraft in 2012).
17. Features of shadow banks
• They primarily borrow short-term funds from market
institutions rather than from the public, to lend long, creating
a liquidity mismatch.
• There is no government guarantee for funds raised.
• They have no access to central bank liquidity in times of
severe distress.
• They are usually highly leveraged.
• They are interconnected and interdependent financial
entities, and this makes regulating them very complex and
difficult.
18. Shadow Banking in India
• Shadow banking in India primarily consists of nonbanking financial companies (NFBCs) and a network
of informal financial institutions such as nidhis, chit
funds, commodity trade financiers, gold saving
companies, gold loan companies,
and money
lenders.
19. Growth Enablers: Policy Thrust
Parliament Moves Reforms Forward
The Winter Session of Indian Parliament has passed 17 pieces of
legislation. Decisions included under this are:
•
Nod for FDI in multi brand retail.
•
Lok Sabha passes Companies Bill, 2011 paving the way for a new company
law, including improving corporate governance practices and making CSR
mandatory for certain companies.
•
The Prevention of Money-Laundering (Amendment) Bill, 2011, passed.
•
Passage of Banking Laws (Amendment) Bill 2011 which permits voting rights in
proportion to shareholding
20. Government Moves on Reforms
•
Cabinet Committee on Investment set up to fast-track infrastructure projects
worth over Rs 1,000 crore.
•
Union Cabinet clears Land Acquisition Bill, which provides for higher compensation
while removing the clause requiring consent of land losers for government
projects.
Securities & Exchange Board of India (SEBI) Tightens Norms
•
Strict oversight mechanism for brokers and other market intermediaries to prevent
cover risks posed by their business activities on investors & market.
•
Stops mini futures and options based on indices to protect small investors
•
Looks forward to boost corporate bond market to bring liquidity in the secondary
market
21. INVESTMENT TRENDS IN INDIA
•
The Foreign Direct Investment (FDI) policy rationalization and liberalization
measures taken by the Government have resulted in increased inflows of FDI
in more and more industries under the automatic route.
•
In the year 2000, the Government of India allowed FDI up to 100 per cent for
most activities. Since then, the policy has been gradually simplified and
rationalized and more sectors have been opened up for foreign investment.
•
Amount of FDI inflows for the financial year 2012-13 for the month of
December 2012 was US$ 1.1 billion. Amount of total FDI equity inflows into
India (equity inflows + re-invested earnings + other capital) for the financial
year 2012-13 was estimated at US$ 27.19 billion.
•
Cumulative Amount of FDI Equity Inflows (excluding, amount remitted through
RBI’s-NRI Schemes) was recorded at US$ 187.80 billion.
22. Top 10 Sectors attracting highest FDI inflows were:
•
Services Sector (19 per cent),
•
Construction development: Townships, housing, builtup infrastructure (12 per cent),
•
Telecommunications (7 per cent),
•
Computer Software & Hardware (6 per cent),
•
Drugs & Pharmaceuticals (5 per cent),
•
Chemicals (other than Fertilizers) (5 per cent),
•
•
automobile
metals tourism
power
service
chemical
constructio
n
Power (4 per cent),
Automobile Industry (4 per cent),
•
Metallurgical Industries (4 per cent),
•
Hotel & Tourism (3 per cent).
pharmacuet
icals
computer
components
telecommu
nication
23. EMPLOYMENT TRENDS IN INDIA
• The findings of the Employment and Unemployment Survey 2011-12
reveal that over nine million persons found employment between 2009-10
and 2011-12.
• But the average growth in employment between 2004-05 and 2011-12
remains low at 2.5 million per year.
• As the policymakers struggle to deal with the twin problems of
unemployment and debt, their reliance on harsh fiscal measures, with no
offsetting effort to foster growth and job creation, has typically failed to
induce growth, create jobs, raise incomes and restore investor confidence.
• The findings also reveal that a growing proportion of the workforce is
moving to non-farm activities, and a falling proportion is engaged on a
casual wage.
24. INDUSTRY TRENDS IN INDIA
•
•
The Eight core industries have a combined weight of 37.90 per cent in the Index of
Industrial Production (IIP).
During April-January 2012-13, the cumulative growth rate of these core industries
was 3.2 per cent compared to their growth at 5.0 per cent during the
corresponding period in 2011-12.
15
10
5
0
coal
-5
-10
-15
-20
natural gas
crude oil
petroleum
refinery
products
fertilizers
steel
cement
electricity
25. INCLUSIVE GROWTH
• Private Sector company, GMT, is setting up rural
business process outsourcing units in Kakinada in
rural Andhra Pradesh to provide employment to rural
youth in the region.
• Bihar & Chhattisgarh likely to have the highest average
growth rate during 2012-17*. Bihar & Chhattisgarh
likely to grow at 9.1 percent. Uttarakhand, Maharashtra
and Madhya Pradesh are expected to grow at 9 per
cent, 8.9 per cent & 8.8 per cent, respectively.
• Bihar has the best average growth figure for the five
year period ended March 31, 2012 at 21.9 percent.
*Curtsey: National Development Council
26. TRENDS IN AGRICULTURAL PRODUCTION
• Since 2002-03:
The Eleventh Five-Year Plan witnessed an average annual
growth of 3.6% in GDP from the agriculture and allied
sectors.
Even then the foodgrain production in the country had
improved remarkably and registered an average annual
growth of 3.8% as compared to 1.3% in the Tenth Plan.
In 2011-12, production crossed the target of 254.24 million
tons (mt).
• Advance estimates (2012-13)
As per the fourth advance estimates(AE), the country’s
grain output is expected to have fallen in 2012-13 by 1.5%
to 255.36 mt as against 259.29 mt in 2011-12.
Curtsey: Trends in Agricultural Production, by Bipin K Deokar, Shruti J Pandey, Nishigandha R Lokhande
27. Curtsey: Trends in Agricultural Production, by Bipin K Deokar, Shruti J Pandey, Nishigandha R Lokhande
28. STATES MOVING FORWARD
• Andhra Pradesh is developing Madhurawada along the north
east of Vizag as an important IT hub in the state. The district is
also being developed as an important destination for
sports, education and business.
•
Vibrant Gujarat show in Ahmedabad moots the idea of “Made in
Gujarat-India” brand. MoUs between state and companies focus
on building affordable housing.
• Global Investors Summit in Madhya Pradesh leads to MoUs
worth around US$ 5 billion in sectors like integrated steel, food
processing, urea production, hospitals and auto components.
29. Concluding Remarks
A macroeconomic crisis has to be tackled as a macroeconomic one.
Increasing capital inflows may provide temporary relief but will aggravate
the lack of competitiveness over time. Taking resort to aggressive
mining, apart from the disastrous social and environmental
consequences, also does not attack the problem at its source. In this
context it is very disheartening to see the politicians from the two major
alliances saying that they would take the reform process forward.
“Reforms” are not a holy book of a revealed religion. These have to be
debated and whatever is found wanting has to be jettisoned.