4. Primary: Agriculture
• India is the largest producer of milk, coconuts, black tea, ginger, turmeric , cashew nuts, and tea
• Cereals exports increased from 764 Mn in 2021 to 869 Mn in 2022.
• The milled export products growth of 35.71%
• Total Food grain production in India is 149.18 LMT
• Total production of Rice during 2022-23 is 1,355.42 LMT.
• production of Wheat increased by 50.01 LMT to be 1127.43 LMT.
• Production of Maize , Nutri/Coarse Cereals all are increased in 2023 compering with
previous years .
• The biggest of organic farmers and has 59.1 Lakh ha area under organic farming
5. Primary: Dairy
• India has a huge resource of livestock and poultry, which help to improving the socio-economic conditions of
rural masses.
• The livestock sector grew at a compound annual growth rate of 7.9% from 2014-15 to 2020-21
• India ranks 8th in the world in terms of total meat production .
• One of largest producer of Buffalo Meat , Goat Meat and Egg in the world .
• India's exports of Animal Products in 2022-23 was $4,062.15 Mn
6. Primary : Fisheries & Aquaculture
• The third largest fish-producing country in the world by 8% of global
• India is the 4th largest exporter of fish and fisheries products with a growth in exports of 26.73% in 2023
• The top 5 export destinations for fish and fish products are USA, China, European Union,
Southeast Asia, Japan and the Middle East.
• the sector provides livelihood to more than 28 Mn people.
7. Secondary : Manufacturing/Industries
• Indian government has a vision about “ made in India “ which is goods reach all the world .
• Indian Auto Component Industry are growing 33% in 2022-23.
• The FDI inflow into Indian automotive industry during the period April 2000-June 2023 stood at $35.15 Bn.
• in next 10 years Auto Components industry exports expected to increased 5x.
• Export of total number of automobiles increased from 4,134,047 in 2020-21 to 5,617,246 in 2021-22,
registering a growth of 35.9%.
• India accounts for 40% of total global engineering and R&D spend. 8% of the country’s R&D
expenditure is in the automotive sector.
• Indian Electrical equipment is the largest sub-sector followed by Plant equipment & Earth moving/ mining machinery.
8. Tertiary : Service Sector
• The largest sectors in India .
• service sector include different type of services such as banking, Information Technology,
telecommunication, business, legal industry, storage and communication, education,
healthcare.
• the contribution sector in GDP is around 57%.
• employs only 25% of the labor force , most of employee population in primary and
secondary sectors
9. ECONOMY OF INDIA
Problems and analysis :
Weak Demand For Goods and Services
Population Density
Poor Infrastructure
Balance of Payment Deterioration
High level of Private Debt
10. Problems and analysis :
Unemployment
Inequality
Rigid Labor laws
Poor Education
Property right
11. Problems and analysis :
Most of Indian internal problems are impact of high population rate , poor infrastructure , and unfair distribution of wealth
However, that lead to high of unemployment and that impact the demand on country , poor educational standard and its
worse in rural areas and amongst women . Also, the poor infrastructure led to supply constraints and inefficiency , for
example over 40% of fruit rote before it reaches the markets . The unfair distribution of wealth such as, more than 78
million homes do not have electricity .
12. Problems and analysis :
There are several of external problems threating the Indian economies . Such as , it can not be competitive with the import goods ,
and the imports grow faster than exports , also the rigid labor laws effected the foreign investment , for example , when the company
want to employee more than 100 people it should take a government permission , which take more time as a result of bureaucracy .
Also, the foreign investment faces an issues with trading across border , paying tax , and contract . Moreover , Indian is an importer of
oil , and any increased-on price effect the deficit and upward pressure on consumer price .
13. India's monetary policy
The Reserve Bank of India ( RBI ) is the central bank who have the
right to deal with monetary authority of India .
It responsible to controls the bank credit and supply of money .
This responsibility is explicitly mandated under
the Reserve Bank of India Act, 1934
14. India's monetary policy
The main goals of monetary policy of India is “ growth
with stability “. The focusing on price stability because its
important for sustainable growth. To achieve this goals
the government of India sets an inflation target for every
five years . The current inflation targeting framework in
India is flexible in nature.
15. The present Monetary Policy Committee (MPC)
The Central Government in September 2016 constituted the present MPC as
under:
“1. Governor of the Reserve Bank of India – Chairperson, ex officio;
2. Deputy Governor of the Reserve Bank of India, in charge of Monetary
Policy – Member, ex officio;
3. One officer of the Reserve Bank of India to be nominated by the Central
Board – Member, ex officio;
4. Shri Chetan Ghate, Professor, Indian Statistical Institute (ISI) – Member;
5. Professor Pami Dua, Director, Delhi School of Economics – Member;
and
6. Dr. Ravindra H. Dholakia, Professor, Indian Institute of Management,
Ahmedabad – Member.(Members referred to at 4 to 6 above, will hold
office for a period of four years or until further orders, whichever is
earlier.” (Monetary Policy of India, 2023)
India's monetary policy
16. India's monetary policy
Flexible Inflation Targeting Framework (FITF) :
RBI roles has been changed in 2016 to have a flexible inflation target framework , and the government set
An inflations target with Reserve bank , so the inflation on consumer price index (CPI) target 4% from
August 5,2016 to March 31,2021 . And the lowers price is 2% and the higher is 6%.
17. Analysis of Monetary Policy in India
India Interest Rate
Shows the interest rate movement from 2018 to 2023
source :(India, 2023)
18. Analysis of Monetary Policy in India
interest rate
Years
6.50%
2018
5.15%
2019
4.00%
2020
4.00%
2021
6.25%
2022
As shown on table on 2019 the RBI increase the interest rate to solve the
inflation on time of corona pandemic the to solve the impact of it . in 2021 with
the time of recovery the RBI decreased the interest rate to active of market and
to improving overall performance indicators . On other hand , the effect of war
of Russia and Ukraine and the supply side limitations and the increase in
demand , and the higher inflation impact by higher global commodity leading
to increase the interest rate in India
19. Fiscal Policy of India
Indian union government work to encourages the economy to grow and move through spending on
infrastructure , and controls tax . That consider as challenge because it seeks to implement it
at the same time , so we will be discussed with more details
20. Fiscal Policy of India
Indian economics slowdown and the pandemic induced crisis , and the time of recovery effect the growth ,
So, the government set an objectives to rapid economics' growth .
21. When coronavirus pandemic hit the growth decelerated from 8.3% in 2016-17 to 3.7% in 2019 – 20 and lead to
substile increased income poverty . Moreover , in 2020-21 the is a fiscal deficit was 9.2 % so that lead
government to increase a current expenditures like a rural employment and food subsidy programmer and
more capital expenditures on infrastructure .
The deficit become in 2022-23 6.4% from GDP with reduce on current expenditures and increase on capital
Expenditures . The deficit impact the public debt is to increased.
Source :(INDIA, 2023-24)
22. Fiscal Policy of India
The government increased the capital expenditure from 1.67$ 2019 to 2.3 % 2021-22 to be 2.9 %
2023 . As we shown on column chart . The government work on fiscal strategy to growth in 2023
by increasing tariffs, incentives to increase production, and projects to create infrastructure
Source :(INDIA, 2023-24)
23. Taxation in India
Fiscal Policy of India
There are two type of taxes in Indian
1- Direct : imposed on corporate and individual , its account for almost 50% of the government’s revenue in India.
There are three type of it :
1-Income Tax : on any income of an Individual and HUF except capital gains from business and profession.
2-Capital Gains Tax : apply to the profits from the sale of a capital asset only.
3-Corporate Tax : applies to the businesses and entities filing their returns as a company
2- Indirect : some of indirect tax are removed from goods and services like value-added tax and excise duty , to have been
replaced by a single Goods and Services Tax. Also, Customs duty tax applies to the goods being imported ,
and on some export good . The type of indirect tax are ; Service Tax , Indian Excise Duty , Value Added Tax (VAT) ,
Customs Duty, Securities Transaction Tax (STT) , Stamp Duty , Entertainment Tax .
24. The figure shows on period of coronavirus pandemic when the demand , price , inflation are decline , and unemployment
rate increased the government decreased the tax rate to help the market active and refresh the economics . However ,
When the pandemic are finished, and the economics start to recovery and the inflation start increase the government also
Increased the tax rate .
Source :(INDIA, 2023-24)
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