India - INDIA India Introducing India Second most populous...

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I N D I A
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India
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Introducing India Second most populous country with a population of 1 billion Land area of 3.29 million square kilometers Largest parliamentary democracy. Federal polity with 28 States and 5 Union Territories Vast natural resource with rich reserves of coal, iron ore and other minerals Fourth Largest Economy in terms of PPP-adjusted GDP after USA, China and Japan Literacy rate of 65.4 percent Life Expectancy rate of 61.1 years
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Indian Economy: Strengths One of the ten fastest growing major economies of the world in last two decades Third largest pool of scientific and technical personnel in the world Long history of a dynamic private sector Huge domestic market with a middle-class of 200 million and the second largest population (over 1000 million) in the world Cheap but reasonably skilled labor force
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Economic Facts GDP (purchasing power parity) $3,400 (2010) 4.046 trillion (2010 est.) Imports of $327 billion (2010 est.) Foreign Exchange Reserves of US $14 billion in 2005 Exports: $201 billion (2010 est.) Unemployment rate:10.8% (2010 est.)
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Income inequality agriculture: 16.1% industry: 28.6% services: 55.3% (2010 est.) Labor force - by occupation: agriculture: 52% industry: 14% services: 34% (2009 est.)
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Strengths Diversified and well-spread infrastructure Self sufficiency in food grains production A mature banking and financial system with a network of over 63,000 bank branches A vibrant capital market with 22 Stock Exchanges and over 9,000 listed companies English
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India Economy: Pre-Reforms Period Four decades of planning since 1951 succeeded in creating a stable industrial foundation (with public-private partnership) Economic policies of the ‘mixed economy’ era outlived their utility in the context of world wide liberalisation and globalisation
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Pre-Reforms Period High level of control, licenses and regulation manifested in diseconomies, inefficiencies and dated technology Monopolistic practices in public utilities led to low productivity and high cost Complex tax regime with multiple and high rates of taxes and duties led to low base and low buoyancy of taxes
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Persistent macro-economic imbalances with large fiscal deficits led to high interest and inflation rates Precarious balance of payments situation with large
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India - INDIA India Introducing India Second most populous...

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