Question

Economic Environment in India '

Answer 1

✌❤HEYA_MATE ❤✌

• ❤The economic environment relates to all the economic determinants that influence commercial and consumer compliance.❤

• ❤‘The term economic environment indicates to all the external economic circumstances that affect purchasing practices of customers and markets and hence influence the production of business.’❤

• ❤As a component of economic reformations, the Government of India declared a new industrial system in July 1991.❤

• ❤The extensive characteristics of this system were as follows:❤

• ❤The Government decreased the number of enterprises below mandatory licensing to six Many of the businesses held for the public sector under the initial policy, were justified.❤

• ❤The purpose of the public sector was defined only to 4 industries of vital importance Disinvestment was conducted in case of many public sector industrial companiesPolicy towards foreign funds was expanded.❤

• ❤The percentage of foreign equity partnership was extended and in many ventures, 100 percent Foreign Direct Investment (FDI) was allowedAutomatic approval was now given for technology transactions with foreign firmsForeign Investment Promotion Board (FIPB) was established to support and channelise foreign financing in India❤

✌❤PIYUSH_SHARMA ❤✌

Answer 2

Answer:

The economy of India is a developing mixed economy.[34] It is the world's seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capita GDP (nominal) and 119th in per capita GDP (PPP) as of 2018.[35][36] After the 1991 economic liberalisation, India achieved 6-7% average GDP growth annually. Since 2014, India's economy has been the world's fastest growing major economy, surpassing China.[37]

Economy of

India

Economy

Mumbai is the financial centre of India[1][2]

Currency

Indian rupee (INR) ₹1

Fiscal year

1 April – 31 March

Trade organisations

WTO, WCO, WFTU, G-20, BIS, AIIB, ADB

Statistics

GDP

Increase $2.972 trillion (nominal; 2019 est.)[3]

Increase $11.468 trillion (PPP; 2019 est.)[3]

GDP rank

7th (nominal; 2018)

3rd (PPP; 2018)

GDP growth

Decrease 6.8% (FY 2019)[4]

8.2% (16/17) 7.2% (17/18)

7.2% (18/19e) 7.5% (19/20f)[5]

GDP per capita

Increase $2,199 (nominal; 2019 est.)[3]

Increase $8,484 (PPP; 2019 est.)[3]

GDP per capita rank

142nd (nominal; 2018)

119th (PPP; 2018)

GDP by sector

Agriculture: 15.87%

Industry: 29.73%

Services: 54.40%

(2018-19)[6]

Inflation (CPI)

Positive decrease 3.05% (May 2019)[7]

Base borrowing rate

Steady 6.0% (as on 12 July 2019)[8]

Population below poverty line

3.7% (December 2018)[9][10]

(World Poverty Clock estimate)

Gini coefficient

33.9 medium (2013)[11]

Human Development Index

Increase 0.640 medium (2017)[12] (130th)

0.468 IHDI (2017)[13]

Labour force

Increase 509,945,440 (2018)[14]

Labour force by occupation

Agriculture: 47%

Industry: 22%

Services: 31%

(FY 2014 est.)[15]

Unemployment

Negative increase 6.1% (FY 2018)[16]

Main industries

Textileschemicalsfood processingsteelcementminingpetroleummachinerysoftwarepharmaceuticalstransportation equipment[17][18]

Ease-of-doing-business rank

Increase 77th (2019)[19]

External

Exports

$330 billion (2018–19)[20]

Export goods

Agricultural products 12.8%

Fuels and mining products 13.8%

Manufacturers 70.5%

Others 2.9%[21]

Main export partners

European Union 17.4%

United States 16.1%

United Arab Emirates 9.6%

Hong Kong 5%

China 4.2%

Other 47.8%[21]

Imports

$514 billion (2018–19)[20]

Import goods

Agricultural products 8.1%

Fuels and mining products 30%

Manufacturers 51.7%

Other 10.2%[21]

Main import partners

China 16.6%

European Union 10.4%

United States 5.7%

United Arab Emirates 4.9%

Saudi Arabia 4.6%

Other 57.9%[21]

FDI stock

Inward: $386.35 billion

Outward: $166.19 billion

(2018)[22]

Current account

Increase −2.5% of GDP (2018–19)[23]

Gross external debt

$543.0 billion (31 Mar. 2019)[24][25]

Net international investment position

−$436.4 billion (Mar. 2019)[26]

Public finances

Public debt

₹133.108 trillion (US$1.9 trillion)

69.794% of GDP (2018)[27]

Budget balance

₹−12.25 trillion (US$−180 billion) (2018)

Revenues

₹39.29 trillion (US$570 billion)

20.60% of GDP (2018)[28]

Expenses

₹52.03 trillion (US$750 billion)

27.28% of GDP (2018)[28]

Economic aid

Increase $3.09 billion (2017)[29]

Credit rating

Standard & Poor's:[30]

BBB− (Domestic)

BBB− (Foreign)

BBB+ (T&C Assessment)

Outlook: Stable

Moody's:[31]

Baa2

Outlook: Stable

Fitch:[32]

BBB−

Outlook: Stable

Foreign reserves

$430.376 billion (19 July 2019)[33](8th)

Main data source: CIA World Fact Book

All values, unless otherwise stated, are in US dollars.