Indian Economy

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Sectorial Changes In Indian Economy : 

Sectorial Changes In Indian Economy

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Submitted To:- Nidhi Mam Submitted By:- Pragnesh Patel (42) Nitin Bhojani (05) Amit k.Patel (18) Hetal vaghela (48) Kirti Gangurde (44)

OVERVIEW OF INDIAN ECONOMY : 

INTRODUCTION India is today one of the six fastest growing economies of the world. The country ranked fourth in terms of Purchasing Power Parity (PPP) in 2001. The Indian economy has transformed into a vibrant, rapidly growing consumer market, comprising over 300 million strong middle class with increasing purchasing power. An abundant and diversified natural resource base, sound economic, industrial and market fundamentals and highly skilled and talented human resources, make India a destination for business and investment opportunities with an assured potential for attractive returns. OVERVIEW OF INDIAN ECONOMY

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Economists predict that by 2020, India will be among the leading economies of the world. The purpose of economic development is not only to increase the output but also to change the composition of output. The tenth five year plan document targets a healthy growth rate of 8% for the Indian economy during the plan period 2002 – 07. The projected economic growth of 8.7 per cent for 2007-08 is fully in line with this trend.

History of Indian economy : 

History of Indian economy The history of Indian economy can be broadly divided into three phases. 1.pre-colonial 2.colonial 3.post-colonial

Defining Economic Growth : 

Defining Economic Growth Economic growth is increase in the amount of the Goods and Services produced by an economy over time. Growth rate of GDP: [GDP(2007)-GDP(2008)]/GDP(2007)*100

G.D.P during the last three years : 

G.D.P during the last three years

Sectorial Contributions in GDP & Employments : 

Sectorial Contributions in GDP & Employments

Population of India : 

Population of India Population: 1,180,166,000 (2010 est) Growth rate: 1.548% (2009 est) Birth rate: 22.22 births/1,000 population (2009 est) Death rate: 6.4 deaths/1,000 population (2009 est) Life expectancy: 69.89 years (2009 est) –male: 67.46 years (2009 est) –female: 72.61 years (2009 est)

Age structure : 

Age structure 0-14 years: 31.1% (male 190,075,426/female 172,799,553) (2009 est) 15-64 years: 63.6% (male 381,446,079/female 359,802,209) (2009 est) 65-over: 5.3% (male 29,364,920/female 32,591,030) (2009 est)

Sector Of The Indian Economy : 

Sector Of The Indian Economy Primary Sector Secondary Sector Tertiary Sector

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Primary Sector “When the economic activity depends mainly on exploitation of natural resources then that activity comes under the primary sector. Agriculture and agriculture related activities are the primary sectors of economy.” Secondary Sector “When the main activity involves manufacturing then it is the secondary sector. All industrial production where physical goods are produced come under the secondarysector.” Tertiary Sector “When the activity involves providing intangible goods like services then this is part of the tertiary sector. Financial services, management consultancy, telephony and IT are good examples of service sector.”

Primary Sector : 

Primary Sector 1.Activites undertaken by directly using natural resources. 2. Example—Agriculture, Mining, Fishing, Forestry, Dairy etc. 3.It is called primary sector because it forms the base for all other products that we subsequently make.

Secondary Sector : 

Secondary Sector 1.It covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity. 2. it is a next step after primary, where the product is not produced by nature but has to be made. 3.Some process of manufacturing is essential, it could be in a factory, a workshop or at home.

Tertiary Sector : 

Tertiary Sector 1.These are the activities that help in the development of the primary & secondary sector. 2. These activities by themselves do not produce good but they are an aid and support to the production process. 3.Example: (a)Transportation--Goods that are produced in the primary sector need to be transported by trucks or trains and than sold in the wholesale and retail shops.

Agriculture : 

Agriculture Largest Producer Of - Tea-India accounts of 14% of the world trade in tea Highest in terms of total milk production in the world Third largest producer of cereals in the world: - Wheat , Rice and Pulses

The Economic Survey of India (2006-07) Says : 

The Economic Survey of India (2006-07) Says Agriculture growth is pegged 2.7%. Total food grains production in 2006-07 estimated at 209.2 metric tonnes (MT). Total water availability in reservoirs up 10% to 120.2 billion cubic meters(BCM) at the end of monsoon 2006

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Fishing , aquaculture and allied activities made for 5.3% of the agriculture gross domestic product(GDP). Production of wheat and other rabi crops increased with the rains in february 2007-sugercane,cotton and jute to set new records.

Service Sectors in India : 

Service Sectors in India Trade Hotels and Restaurants Railways Other Transport & Storage Communication (Post, Telecom) Banking Insurance Dwellings, Real Estate Business Services Public Administration, Defense Personal Services Community Services Other Services

Telecommunications : 

Telecommunications 20% Growth rate(crossed 10 millions). Fifth largest network in the world. People below poverty line uses cell phones. Maximum Public telephone Booths. Any operator the right to provide any access service using any technology

Overview and Recent Developments : 

Overview and Recent Developments Overview and Recent Developments India seen in last 10 odd years as the emerging professional services hub of the world - India’s competitive edge in professional services is compared with China’s prowess as a low cost global manufacturing hub. The services sector scenario in India is complex -characterized by uneven development in different types of services and across regions.