[GKmojo] Whatsapp Notes
1. Economy of India
1) The country is classified as a newly industrialized country, and one of the G-20 major
economies, with an average growth rate of approximately 7% over the last two decades.
2) Maharashtra is the wealthiest Indian state with an annual nominal GDP of US $ 380 billion
followed by UP and Tamilnadu.
3) India ranks 139th in per capita GDP (Nominal) with 2134 dollars as of 2018.
4)
GDP: Gross Domestic Product
GDP is the monetary value of all the finished goods and services produced within a country's
borders in a specific time period.
India's Nominal GDP ~2.848 trillion dollars. (2018)
India's rank in world economies by size of GDP (nominal): 6th
India's rank in world economies by size of GDP (PPP): 3rd
5) GDP Growth forecast for 2018-19:
7.3% by IMF, ADB and World Bank
6)
There are 3 sectors in Indian Economy.
Contribution of different sectors in Indian GDP:
Primary sector (Agriculture): around 17%
Secondary sector (Industry): around 29 %
Tertiary sector (Service): around 54%
7) Ease of doing business rank of India 2018:
100
8)
Trade partners in decreasing order:
India's main export partners:- European Union, USA, UAE, Hong Kong and China.
India's main import partners: - China, European Union, USA, UAE and Saudi Arabia.
9) Inflation in India is measured by consumer price index.
