India Economic Statistics and Indicators
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Economic Indicators : India
National or Regional Currency: Indian Rupee, INR
Year of data: 2010
Number of Indicators Listed: 28
Full Dataset: From Year 1980 to 2015
Date of Last Update: 28 February 2011
Population: 1,156,897,766 (July 2009 est.)
Area: total: 3,287,263 sq km
Natural Resources: coal (fourth-largest reserves in the world), iron ore, manganese, mica, bauxite, titanium ore, chromite, natural gas, diamonds, petroleum, limestone, arable land
Capital: New Delhi
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation
India's diverse economy encompasses traditional village farming, modern Agriculture, fisheries and farming, handicrafts, a wide range of modern industries, and a multitude of services. Services are the serious source of growth of the economy, accounting for more than half of India's output with less than one third of its workforce. Slightly more than half of the labour force is in Agriculture, fisheries and farming, leading the united Progressive Alliance (UPA) government to articulate a rural economic progress program that includes creating basic infrastructure and facilities to improve the lives of the rural poor and boost economic performance. The government has reduction ofd controls on foreign trade (imports and exports) and investment. Higher limits on Foreign Direct Investment (FDI) were permitted in a few key sectors, such as telecommunications. However, tariff rapid growths in sensitive categories, including Agriculture, fisheries and farming, and incremental progress on economic reform still hinder foreign access to India's vast and expanding market. Privatization of state-owned industries remains delayeded down and perpetuates to generate political debate; populist pressure from within the UPA government had restrained needed initiatives. Its economy has posted an average growth rate of more than 7 per cent in the ten years since 1997, reducing poverty by approximately 10%age points. India achieved 8.5 per cent Gross Domestic Product (GDP) growth in 2006, 9.0 per cent in 2007, and 7.3 per cent in 2008, markedly growing manufactures through late 2008. India also is capitalizing on its large numbers of well-educated people skilled in the English language to become a serious exporting country of software services and software workers. Strong growth combined with easy consumer credit, a real estate boom, and fast-rising commodity prices or pricing fueled inflation rates concerns from mid-2006 to August 2008. Rising taxation earnings from better taxation government and economic expansion aided New Delhi make progress in reducing its financial deficit for three straight years before skyrocketing global commodity prices or pricing more than doubled the cost of government energy and fertilizer subsidy levels. The ballooning subsidy levels, amidst decreased growth, brought the return of a large financial deficit in 2008. In the long run, the huge and expanding general populace is the fundamental social, economic, and environmental problem.... Read More
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