Recent development in indian economy rivha

Recent development in indian economy rivha

• 1.
  RECENT DEVELOPMENT ININDIAN ECONOMY BY: RICHA GOEL MBA- 1A 064
• 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.
  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.
  G.D.P DURING THELAST THREE YEARS : GDP Growth Year 2007 9.4% 2008 7.3% 2009 5.4% 2010 7.2%
• 6.
  SECTOR OF THEINDIAN ECONOMY :  Primary Sector  Secondary Sector  Tertiary Sector
• 7.
  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.
• 8.
  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.
• 9.
  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.
• 10.
  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
• 13.
  SERVICE SECTORS ININDIA :  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
• 14.
  TELECOMMUNICATIONS :  20% Growth rate(crossed 10 millions).  Fifth largest network in the world.  People below poverty line uses cell phones.  Maximum Public telephone Booths.
• 15.
  SECTORIAL CONTRIBUTIONS INGDP & EMPLOYMENTS : Sector GDP(%) Employment(%) Agricultural 17.5% 52% Industrial 20% 14% Service 62.6% 34%
• 20.
  HIGHLIGHTS OF ECONOMICSURVEY 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.
• 21.
  HIGHLIGHTS OF ECONOMICSURVEY 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.