The economy of India is the ninth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP).[1] The country is one of the G-20 major economies and a member of BRICS. On a per-capita-income basis‚ India ranked 141st by nominal GDP and 130th by GDP (PPP) in 2012‚ according to the IMF.[12] India is the 19th-largest exporter and the 10th-largest importer in the world. Economic growth rate slowed to around 5.0% for the 2012–13 fiscal year compared with 6.2% in the previous
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Retail:-The selling of goods and services directly to consumers in small quantities. Retailing:-The activities involved in selling goods directly to consumers. ORGANISED RETAILERS:- Like department stores‚speciality stores ‚shopping complexes ‚ malls ‚ large scale multiple chains etc. Organized retailing‚ in India‚ refers to trading activities undertaken by licensed retailers‚ that is‚ those who are registered for sales tax‚ income tax‚ etc. These include the publicly traded supermarkets‚ corporate-backed hypermarkets and
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Economics Assignment 2 The Indian Economy Executive Summary The Indian Economy is currently experiencing strong growth adverse to difficulties witnessed after the global financial crisis. Current GDP levels at approximately $1.5 US Dollars as the fifth largest economy in the world. The aim of this paper is to address macroeconomic conditions that may affect India’s ability to maintain high levels of growth. Monetary and Fiscal policy have been analysed and recommendations made to manage
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Importance of Agriculture in Indian Economy The direct contribution of the agriculture sector to national economy is reflected by its share in total GDP‚ its foreign exchange earnings‚ and its role in supplying savings and labor to other sectors. Agriculture and allied sectors like forestry and fishing accounted for 18.5 percent of total Indian Gross Domestic Product (GDP) in 2005-06 (at 1999-2000 constant prices) and employed about 58 percent of the country’s workforce (CSO‚ 2007). It
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India had to open its economy. “Our Berlin Wall fell…and it was like unleashing a caged tiger… We went from quiet self-confidence to outrageous ambition in a decade” [Tarun Das‚ Chief Mentor‚ Confederation of Indian Industries].’ (Thomas Friedman‚ The World is Flat) Optimism abounds in India. Well it might. Keynote reforms‚ initiated by the then Finance Minister Dr Manmohan Singh in 1991‚ provided the momentum for a major reduction of the role of the public sector in the economy‚ a degree of deregulation
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promoted the development of the market economy in Europe. From the ending of the 19th century‚ the major capitalist countries in Europe and the United States had successively entered the stage of monopoly capitalism from the unrestricted competition of the capitalist stage. In order to get more resources‚ some capitalist countries started twice world wars. After the world war two‚ United Stated became the most powerful country in the world. And the market economy began to be developed in the all world
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INDIAN ECONOMY 01. Indian economy is world’s 9th largest economy on exchange rate basis and 4th largest economy on PPP basis in 2010 02. PPP is called as the purchasing power party 03. Purchasing power party is a theory and according to the theory – the exchange rates between currencies are balanced when their purchasing power is the same in each of the two countries 04. The main characteristics of Indian economy are – agrarian economy‚ mixed economy and developing economy 05. Agrarian economy
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ready to roll? As regards my affirmation‚ let’s see which left leg steps forward first….. Keep working‚ keep partying. issue XXXIII January-March 2010 INDIAN SERVICE INDUSTRY The service industry forms the backbone of social and economic development of a country. It has emerged as the largest and fastest-growing sectors in the world economy. The service sector has shown a growth rate higher than that of agriculture and manufacturing sectors. This sector covers a wide range of activities‚ such
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Can Slot Machines Uplift a Nation? When the subject of Native Americans or Indian reservations is brought up most people bring casino gambling to mind. Approximately five hundred and sixty tribes are recognized by the federal government‚ and only about one third conduct casino style gambling. (Light and Rand 9) Reservations are sovereign nations‚ meaning tribes are "Dependent on and subordinate to‚ only the federal government‚ not the states." (Light and Rand 36) This has been the tribes "Ace
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Pre-Liberalisation age: A struggle Indian was under social democratic policies from 1947 to 1991. The economy was characterised by extensive regulation‚ protectionism‚ public ownership‚ persasive corruption and slow growth. Indian economic policy after independence was influenced by colonial experinece‚ which was seen by Indian leaders as exploitative‚ and by those leaders’ exposure to democratic socialism as well as the progress achieved by the economy of the Soviet Union. Domestic ploicy tended
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