INDIAN ECONOMIC DEVELOPMENT

By : TUSHAR DHIMANCLASS –IX B

ROLL NO - 10

OVERVIEW OF INDIAN ECONOMY: 

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.

G.D.P DURING THE LAST THREE YEARS : 

GDP Growth Year2007 9.4%2008 7.3%2009 5.4%2010 7.2%

SECTOR OF THE INDIAN ECONOMY : 

Primary Sector

Secondary Sector

Tertiary Sector

PRIMARY SECTOR : 

Activities undertaken by directly using natural resources.

Example—Agriculture, Mining, Fishing, Forestry, Dairy etc.

It is called primary sector because it forms the base for all other products that we subsequently make.

SECONDARY SECTOR : 

It covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity.

It is a next step after primary, where the product is not produced by nature but has to be made.

Some process of manufacturing is essential, it could be in a factory, a workshop or at home.

TERTIARY SECTOR : 

These are the activities that help in the development of the primary & secondary sector.

These activities by themselves do not produce good but they are an aid and support to the production process.

Example: 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.

SECTORIAL CONTRIBUTIONS IN GDP & EMPLOYMENTS :

Sector GDP(%) Employment(%)

Agricultural 17.5% 52%Industrial 20% 14%Service 62.6% 34%

HIGHLIGHTS OF ECONOMIC SURVEY 2011-12 Rate of growth estimated to be 6.9%. Outlook for growth

and stability is promising with real GDP growth expected to pick up to 7.6% in 2012-13 and 8.6% in 2013-14.

Agriculture and Services sectors continue to perform well. 2.5 % growth in Agro sector forecast. Services sector grows by 9.4 %, its share in GDP goes up to 59%.

Industrial growth pegged at 4-5 percent, expected to improve as economic recovery resumes.

  Food inflation dropped from 20.2% in February 2010 to

1.6% in January 2012.

HIGHLIGHTS OF ECONOMIC SURVEY 2011-12 Savings & capital formation expected to rise.

Exports grew @ 40.5% in the first half of this fiscal and imports grew by 30.4%. Foreign trade performance to remain a key driver of growth.

Central spending on social services goes up to 18.5% this fiscal from 13.4% in 2006-07.

Sustainable development and climate change concerns on high priority.

AMERICA’S ECONOMIC DEVELOPMENT

The economic history of the United States has its roots in European

settlements in the 16th, 17th, and 18th centuries.

The American colonies went from marginally successful colonial economies

to a small, independent farming economy, which in 1776 became the

United States of America.

In 230 years the United States grew to a huge, integrated, industrialized

economy that makes up over a quarter of the world economy.

OVERALL ANALYSIS

The U.S. economy maintains a relatively high GDP per capita, with the caveat that it may be elevated by borrowing and a low to moderate GDP growth rate making it attractive to immigrants worldwide.

http://en.wikipedia.org/wiki/File:United_States_wealth_compared_to_the_rest_of_the_world.gif

JAPAN’S ECONOMYStatistics( 20010) Japan trends

Population (millions) 126,475,664

Superficy (km²) 377,915

Median agae 44.8

GDP trillion$ 4.31 trillion

Growth 3,9

Pop active 62.97 mi.

Unemployment rate 5%

Inflation rate 0,7%

Exchanges

Exports billion$ $ 765.2

Imports billion $ $ 639.1

Finance

Investment rate 19.1% GDP

Budget -7,7% GDP

Official currency YEN

Change Euro/JPY 110, 55

JAPAN, MAIN SECTORS

Ship industry Textile Machine tools Chemicals

Electronics Automobile Food

Bangladesh Economy GDP: 242.2 billion GDP per capita: 1,600$ per capita Unemployment rate: 2.5% Import: 2o.22 billion $ ( 2009) Machinery, equipment, chemicals, iron and steel,

textiles, foodstuffs, petroleum products and cement. Trade partners include China and India

Export: 15.91 billion $ (2009) Garmets, frozen fish and seafood, and leather.

Trade partners include USA and Germany.