Friday, 28 December 2018

20 essential facts about the Indian economy you should know!

20 essential facts about the Indian economy you should know!

20 essential facts about the Indian economy you should know!
indian economy

The International Monetary Fund has predicted that the Indian economy will be the fastest growing economy in the world. The International Monetary Fund said that India would beat China by achieving a growth rate of 7.4% in the year 2018.


A report released by the World Economic League (WEL) states that in 2018, in terms of nominal GDP, India's economy will be able to overtake the economy of Britain and France to become the fifth largest economy in the world and the world's third largest in 2032 The big economy will be there.

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The size of the world's major economies is as follows; (In reference to the nominal GDP)


1. America - 19.4 trillion dollars


2. China - $ 11.9 trillion


3. Japan - $ 4.9 trillion


4. Germany - $ 3.7 trillion


5. France - 2.575 trillion dollars


6. U.K. - $ 2.565 trillion


7. India - 2.4 trillion dollars



In this article, all the latest important figures related to the Indian economy are given, let's look at them;

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1. Demographics of India;


Total population: 1.35 billion

Population growth rate: 1.2% (2015)

Literacy rate: 74.04% (from the 2011 census)

Male literacy: 82.14%

Female literacy: 65.46%

Life expectancy: 66.9 years (male), 69.9 years (Female) (2015 - WHO 2016 report)



Languages: Hindi, English and at least 16 other official languages
religion:


a)  Hinduism: (79.8%))

b). Islam: (14.2%)

c) Christianity: (2.3%)

d)  Sikhism: (1.7%)

e)  Buddhism: (0.7%)

f)  Jain religion: (0.4%)


2. Area:



Total area: 3,287,263 square kilometers (3,214 km north to south and 2,933 km east to west)

Area of land: 2,973,190 km²

Area of water limit: 314,070 sq km

3. Natural resources: coal (the fourth largest reserves in the world), petroleum, natural gas, bauxite, iron ore, asbestos, manganese, diamonds, gold, and limestone.

4. The contribution of different areas in GDP;

a Service sector: 53.7 percent

b. Industry sector: 31.2 percent

c. Agriculture sector: 15.2 percent

5. Financial year duration: 1st April - 31st March

6. Foreign exchange reserves: 421.922 billion US dollars (January 2018)

7. India's export value: 26.20 billion US dollars (January 2018)

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8. India's largest export partner countries: United States, Germany, United Arab Emirates, China, Japan, Thailand, Indonesia, and European Union

9. FDI is the largest investor in equity (April 2000 - September 2017)

a Mauritius: (34%)

b. Singapore: (17%)

c. UK: (7%)

d. Japan: (7%)

e. United States: (6%)

f. Netherlands: (6%)

g. Germany: (3%)

h. Cyprus: (3%)

i. France: (2%)

j. United Arab Emirates: (1%)

10. Foreign debt on India: the US $ 495.7 billion (December 2017)

11. Gold reserves in India: 557.79 tonnes (December 2017)

12. Per capita income in India: Rs 1.03 lakh (2016-17)

13. GDP at current prices: 152.54 lakh crores

14. Tourist arrival in India: 10.66 lakh/year (January 2018)

15. Major areas attracting FDI: (April 2000 - June 2017)

a Service sector: (17%)

b. Telecom: (8%)

c. Computer software and hardware (8%)

d. Construction area: (7%)

e. Automobile: (5%)

f. Drugs & Pharmaceuticals (4%)

g. Chemicals: (4%)

h. Trading: (4%)

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i. Power: (3%)

16. Airport: - (managed by Airports Authority of India)

The total airport in India: 125

International Airport: 27

Domestic Airport: 78

Airport for military use: 26

17. Railways: -

Railway network: 108,706 km

Passenger trains: 12,617

Cargo: 7,421

Total railway stations: 7,172

Daily traveler: 23 million

18. Roads: -

Total road network: 4.87 million km (second largest road network in the world)

65% of Indian roads are used for transportation and 85% passenger traffic.

19. Waterways: - 14,500 km

20. Major port: -

Mumbai, Chennai, Kolkata, Haldia, Kandla, Ennore, Paradip, Tuticorin, Visakhapatnam, Jawaharlal Nehru Port Trust, Kochi, and New Mangalore


Based on the above figures, it can be concluded that in the coming years, India will emerge as the new economic powerhouse of the world. These figures are very important for all competitive examinations conducted in India, so students should read them carefully

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