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Recent Development in Indian Economy: BY: Richa Goel Mba-1A 064

The Indian economy has transformed into a vibrant consumer market with over 300 million middle class citizens and increasing purchasing power. India has abundant natural resources, a skilled workforce, and a sound economy making it an attractive destination for business. Recent GDP growth rates from 2007-2009 ranged from 5.4-9.4% with the economy growing at 7.2% in 2010. The economy comprises the primary, secondary, and tertiary sectors with agriculture, industry, and services being the largest contributors to GDP but employing the most, some, and fewest people respectively. Key service sectors like telecommunications and trade are also growing rapidly. The 2011-12 economic survey projected continued strong growth, improved industry, rising savings, and focus on social

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182 views22 pages

Recent Development in Indian Economy: BY: Richa Goel Mba-1A 064

The Indian economy has transformed into a vibrant consumer market with over 300 million middle class citizens and increasing purchasing power. India has abundant natural resources, a skilled workforce, and a sound economy making it an attractive destination for business. Recent GDP growth rates from 2007-2009 ranged from 5.4-9.4% with the economy growing at 7.2% in 2010. The economy comprises the primary, secondary, and tertiary sectors with agriculture, industry, and services being the largest contributors to GDP but employing the most, some, and fewest people respectively. Key service sectors like telecommunications and trade are also growing rapidly. The 2011-12 economic survey projected continued strong growth, improved industry, rising savings, and focus on social

Uploaded by

Ashish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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RECENT DEVELOPMENT

IN INDIAN ECONOMY

BY:
RICHA GOEL
MBA- 1A
064

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.

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(2011)]/GDP(2010)*100]

[GDP(2010)-

G.D.P DURING THE LAST THREE YEARS :

GDP Growth

Year

2007

9.4%

2008

7.3%

2009

5.4%

2010

7.2%

SECTOR
ECONOMY

OF

Primary Sector

Secondary Sector

Tertiary Sector

THE

INDIAN
:

PRIMARY SECTOR :

Activities undertaken by directly using natural


resources.
ExampleAgriculture,
Forestry, Dairy etc.

Mining,

Fishing,

It is called primary sector because it forms the


base for all other products that we subsequently
make.

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.

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.

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

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

TELECOMMUNICATIONS :

20% Growth rate(crossed 10 millions).

Fifth largest network in the world.

People below poverty line uses cell phones.

Maximum Public telephone Booths.

SECTORIAL CONTRIBUTIONS IN
GDP & EMPLOYMENTS :
Sector

GDP(%)

Employment(%)

Agricultural

17.5%

52%

Industrial

20%

14%

Service

62.6%

34%

HIGHLIGHTS
2011-12

OF

ECONOMIC

SURVEY

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.

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.

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