The economy of India is the third largest in the world as measured by purchasing power parity (PPP). When measured in USD exchange-rate terms, it is the tenth largest in the world, with a GDP of US $1.0 trillion (2007).India is the second fastest growing major economy in the world, with a GDP growth rate of 9.2% at the end of the second quarter of 2006–2007.However, India’s huge population results in a per capita income of $3700 at PPP and $820 at nominal. The World Bank classifies India as a low-income economy.
| Economy of India | ||
| Currency | 1 Indian Rupee (INR) (₨) = 100 Paise | |
| Fiscal year | April 1–March 31 | |
| Trade organisations | WTO, SAFTA | |
| Statistics | ||
| GDP (PPP) | $4.042 trillion (2006 est.) (12th(nominal); 4th(PPP) [1]) |
|
| GDP growth | 9.0% (2005/06) | |
| GDP per capita | $820(nominal); $3,700(PPP) [2] | |
| GDP by sector | agriculture: 19.9%, industry: 19.3%, services: 60.7% (2006 est.) | |
| Inflation (CPI) | 5.3% (2006 est.) | |
| Population below poverty line |
25% (2002 est.) [3] | |
| Labour force | 509.3 million (2006 est.) | |
| Labour force by occupation |
agriculture: 60%, industry: 12%, services: 28% (2003) | |
| Unemployment | 7.8% (2006 est.) | |
| Main industries | textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software | |
| Trading partners | ||
| Exports | $112 billion (2006 est.) | |
| Export goods | textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures | |
| Main export partners | US 18%, China 8.9%, UAE 8.4%, UK 4.7%, Hong Kong 4.2% (2005) | |
| Imports | $187.9 billion f.o.b. (2006 est.) | |
| Import goods | crude oil, machinery, gems, fertilizer, chemicals | |
| Main import partners | China 7.2%, US 6.4%, Belgium 5.1%, Singapore 4.7%, Australia 4.2%, Germany 4.2%, UK 4.1% (2005) | |
| Public finances | ||
| Public debt | $132.1 billion (2006 est.) | |
| Revenues | $109.4 billion (2006 est.) | |
| Expenses | $143.8 billion; including capital expenditures of $15 billion (2006 est.) | |
| Economic aid | recipient: $2.9 billion (FY98/99) | |
Read more at >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Courtesy: Wikipedia
~ Welcome at Vision IAS Learning Community ~ http://www.orkut.com/Community.aspx?cmm=32684216
