Brief Introduction Of Indian Economy

ECONOMY
Economy – Overview:   Half a Century after gaining its independence, India has overcome all odds and achieved phenomenal standards of economic stability, courtesy the indomitable contributions of various sectors such as agriculture, tourism, commerce, power, communications, science & technology, etc., which have acted as the pillars of the Indian economy. India is today one of the six fastest growing economies of the world. The country is ranked fourth in terms of Purchasing Power Parity (PPP) in 2001. The business and regulatory environment is evolving and moving towards constant improvement.       GDP – Real Growth Rate:   The second quarter (July-September) of the financial year 2005-06 registers a growth rate of 8 percent.       GDP – Purchasing Power Parity:   India is the fourth largest economy, with US$ 3 trillion GDP in terms of Purchasing Power Parity (PPP) after USA, China, and Japan.       GDP – Per Capita:   As of September 2005, the GDP per capita of the Country stood at US$ 543.       GDP – Composition by Sector:   Services 56%, Agriculture 22%, and Industry 22% (As of September 2005).        Labour Force:   According to the Report of the Committee on India Vision: 2020, India’s labour force has reached approximately 375 million in 2002.       Unemployment Rate:   9.1% (As of Sep 2005)       Population below Poverty Line:   26.10% as on 1999-2000        Inflation Rate:   4.1% as on July 2005.        Public Debt:   The total Debt as on 31st March 2002 stands at Rs. 1372117.58 crores.       Exchange Rates:   Indian Rupee/ 1 US$ - 45.3700; Indian Rupee/ 1 Euro – 53.8600; Indian Rupee/ 1 Pound Sterling – 79.7100 (Latest rates).       Agriculture Products:   Rice, wheat, tea, cotton, sugarcane, potatoes, jute, oilseed, poultry, etc.       Industries:   Steel, garments, petroleum, cement, machinery, locomotive, food processing, pharmaceutical products, mining, etc.       Currency (Code):   Indian Rupee (INR)       Fiscal Year:   1st April to 31st March.