ECONOMIC ANALYSIS OF INDIA
The Indian Economy is the tenth-largest in the world by nominal Gross Domestic Product and the third-largest in terms of PPP.
India had a growth of over 9 % in 2005-2008 came down to 6.7 % in 2008-2009 because of the world financial crisis of the fiscal and monetary space there but with the time economy recovered to a growth of 8.4 per cent in 2010-11.
Again the slowdown in the Indian economy began in the 2011-2012, when the growth rate declined to 6.70 % from a level of 8 percent. Growth is in the range of 5.30 -5.50 % in 2012-13. The slowdown is not only confined to India but there has been a general overall slowdown in the whole global economy.
Effect on the world
The growth rate of developed economies declined from 3.0 % in 2010 to 1.3% in 2012. The emerging economies have slowed down during this particular period due to slowdown even in the export markets. China’s growth declined from 10.4 % in 2010 to 7.8 % t in 2012. Brazil’s growth declined from 7.5 per cent in 2010 to 1.5 percent in 2012.
(http://businesstoday.intoday.in/bt500/sector-wise-analysis.jsp)
Economic Survey for the year 2014
The gross domestic product will expand up to 6.7% in 2014 and with pre warning about inflation and a high current account deficit will be concerns this year. Study states the positive impact in the recovery of world economy and many government policies includes steps for opening up of foreign investment in various sectors like retail and pharma and including others also. This study states that India is on track to meet its fiscal deficit target of 5.3% of Gross Domestic Product and to narrow down it to 4.8% of Gross Domestic Product in next year i.e. 2015.
This study recommends further reducing of the imports majorly of gold and to curb India’s current account deficit which stood at 4.2% of GDP in 2013 and which is projected to be at similar level in year 2014. More foreign direct investment in retail and other sectors will be allowed which could help the sectors through the introduction of new technology and improved infrastructure in the country.
Gross Domestic Product
The Gross Domestic Product in India was worth 1841.70 billion US dollars in 2012. The GDP of India represents 2.97 % of the world economy. India Gross Domestic Product averaged to be around 485.65 $ Billion from 1970 until 2012, reaching all the time high of 1872.
According to Payne (2014), the U.S. economic growth will strengthen in this year with an average of 2.7 percent because of various factors including the strengthening of consumer and business confidence. The other factor that will contribute to the strengthening of the country’s economic growth is Europe’s emergence from its long slumber, a trend that will brighten the prospects of foreign sales. However, this economic growth will largely be limited by ongoing government deficit reduction. As compared to the first half of 2013, economic conditions are already better since growth increased with an average of 3.7 percent in the second half of 2013. Consequently, expectations of increased economic growth in the United States are rising as people believe that this will be the best year since the tribulations of 2008 global recession. Generally, America’s GDP growth will become stronger in 2014 averaging at least 2.7 percent becaus...
The measure of growth is flawed, how countries see their growth is based on the consumption of their people. Many countries use the GDP (Gross Domestic Product) as an indicator for growth, as defined in It’s All Connected, “(GDP) is a calculation of the total monetary value of goods and services produced annually in a country” (Wheeler 11). The...
... British had colonized India for approximately 200 years, there were lasting effects on the country in terms of many sectors, specifically the economical and industrial sectors. Due to India’s non-participation and manipulation of agriculture by the British, some would argue that the British obliterated the economy. Others would argue that the British instead helped due to the creation of the railroad, improved communication and created the beginnings of an industry. The British harmed the economy and industrial sector more than they helped it, and effectively caused the destruction of the economy both in the short term and the long term. The growth rate directly after the independence was less than 1% for almost 5 years (BIC 4). It was necessary for India to rebuild the economy if they ever wanted to be on the same playing field as the other countries at the time.
...fferentiation of fields like production, transportation, consumption and so on. Change in them with respect to time indirectly determines the increase in the dependency on machines which in turn gauge the industrial growth of a nation. With reference to above measures, it can be observed that the onset of Industrial Revolution in India was early but very sluggish. India is neither a developed, nor an underdeveloped nation. The ongoing ‘industrial revolution’ has classified it as a developing nation.
If Louis Riel who supported the Metis was alive today, which book would he choose as the best one to help improve the global quality of life? There are many great books that he can choose to remind us of the social issues the world face everyday. These books cause readers to challenge these issues to improve the global quality of life. One of these many books that would standout for Louis Riel is The Inconvenient Indian by Thomas King. In the book, King reflects on the mistreatment of Native Americans by using irony and criticisms. The book brings up the issues Native minorities in North America have faced throughout the past centuries. Riel would support these criticisms to advice the world to prevent future mistreatment of Native minorities
Gross Domestic Product (GDP) is the market value of all final goods and services produced by factors of production within a country in a given period of time. It can be calculated using either the income, output, or expenditure method as illustrated on the circular flow of income diagram below.
Subramanian, Arvind. India’s Economy is stumbling? The New York Times. August 31, 2013: A19. Print.
x. With or without diamond-studding, gold jewellery is a market where India has tremendous scope for export growth. India is the world’s biggest consumer of gold according to World Gold Council Statistics. However, India’s exports of gold jewellery (13 per cent of its total gem and jewellery exports) are negligible: less than 2 per cent of the US$ 80 bn global market.
In the following report we have first tried to clear the concept of the multiplier then carried on with explaining various theoretical aspect of tax multiplier, government spending multiplier and planned investment multiplier. Then we have tried to compare the change in expenditure and change in GDP in Indian economy by providing data which was extracted through a secondary source.
The fourth largest sector in the Indian economy is all set for 16% growth during 2008-09, from a base of Rs. 85470 crores, as predicted by FICCI. Going forward, as anticipated by CRISIL, FMCG sector will touch around Rs. 140000 crores by 2015 (33.4B$).
Vasco da Gama landed at Calicut, sailing via the Cape of Good Hope in 1498. This marked the beginning of
In order for any country to survive in comparison to another developed country they must be able to grow and sustain a healthy and flourishing economy. This paper is designed to give a detailed insight of economic growth and the sectors that influence economic growth. Economic growth in a country is essential to the reduction of poverty, without such reduction; poverty would continue to increase therefore economic growth is inevitable. Through economic growth, it is also an aid in the reduction of the unemployment rate and it also helps to reduce the budget deficit of the government. Economic growth can also encourage better living standards for all it is citizens because with economic growth there are improvements in the public sectors, educational and healthcare facilities. Through economic growth social spending can also be increased without an increase of taxes.
Economic boom in India and China: India and China account for 1/3 of the world population and these countries have seen a great economic boom in the recent years and this partially is attributed to the rising costs. Around the world, people have eaten more as they grew richer. This phenomenon is called Nutritional transition. Hundreds of millions more people are now rich enough to eat meat compared with 10 years ago, with meat consumption in China more than doubling over the past 20 years.
Economic growth is one of the most important fields in economics. In current generation economic is developing well. Economic growth is really important to country and for the world as well. Economic are one of the identity for country because it shows a country development and attraction for other countries (F, Peter. 2014). For example well economic develop such as Singapore, Dubai, New York, and Japan. These countries are well develop and maintaining their economic growths. Economic growths are really important because higher average incomes enables consumers to enjoy more goods and services. Then, lower unemployment with higher output and positive economic growth firms tend to utilize more workers creating more employment. Enhanced public
The Gross Domestic Product (GDP) is the total market value of in a country’s output. The GDP is the total market value of all final goods and services produced by factors in within given period of time that located in the country doesn’t matter they are citizens or foreign-owned companies. Hence, the GDP is the best way to measure the country economy.