3. WHAT IS ECONOMY ?
INDIAN ECONOMY
DIFFERENT SECTOR OF THE COUNTRY
MEANING AND CAUSES OF RECESSION
INDIAN ECONOMY IN 2009-10
ECONOMY QUIZ COMPETITION
4. An economy consists of the economic systems of a
country or other area; the labor, capital and land
resources; and the manufacturing, production, trade,
distribution, and consumption of goods and services
of that area.
5. The economy of India is the eleventh largest in the
world by nominal GDP and the third largest by
purchasing power parity (PPP).
The country is one of the G-20 major economies and a
member of BRICS.
6. AGRICULTURE
INDUSTRY
TEXTILE
SERVICES
AUTO MOBILE
AVIATION
7. India ranks second worldwide in farm output.
Agriculture and allied sectors like forestry, logging and
fishing accounted for 15.7% of the GDP in 2009–10,
employed 52.1% of the total workforce, and despite a
steady decline of its share in the GDP, is still the
largest economic sector and a significant piece of the
overall socio-economic development of India.
8. India has one of the world's fastest growing
automobile industries.
Shown here is the Tata Nano, the world's cheapest car.
Industry accounts for 28% of the GDP and employ 14%
of the total workforce.
In absolute terms, India is 12th in the world in terms of
nominal factory output.
9. Second largest employer in India, next to agriculture
Generates employment opportunities for
approximately 33.17 million workers directly, and 54.85
million workers indirectly
Punjab generating employment for 4,00,000 jobs has
suffered a 50% loss in sales
10. India has revenues of 10.9 billion used.
30 billion used from it and total BPO.
5-6% share of the total BPO industry.
Employs more than 700,000 people.
35 percent of the BPO market worldwide.
13th in services output.
11. India is the world's largest two wheeler manufacturer.
India is the world's second largest tractor
manufacturer.
India has the fourth largest car market in Asia.
India has the world's largest three wheeler market.
India is fourth largest Automobile exporter in the
world.
Rashmi Verma
13. In economics, a recession is a business cycle
contraction, a general slowdown in economic activity.
Macroeconomic indicators such as GDP, employment,
investment spending, capacity utilization, household
income, business profits, and inflation fall, while
bankruptcies and the unemployment rate rise.
15. Indian companies have major outsourcing deals
from the US.
India's exports to the US have also grown
substantially over the years.
For the first time in five years, India’s export
growth has turned negative. Exports for October
2008 contracted by 15% on a year-on-year basis
as over 40% of India’s export market had been
slowing for months.
16.
17. Composition of India’s GDP by Sector.
Amount in Corers of Indian Rupees (10 Million)
Agriculture, Forestry & Fishing 876,563.00
Minning Quarrying 129,671.00
Manufacturing 799,513.00
Electricity, Gas & Water Supply 80,440.00
Construction 437,768.00
Trade, Hotel, Transport & Communication 1,274,534.00
Financing, Insurance, Real Estate & Bus 700,943.00
Service
Community, Social & Personal Services 690,373.00
Total Annual GDP 4,989,804.
00
18. Details 2008 2009 2010 2011 2012
(Figures in per cent)
5.1 7.7 9.1 8.2 8.5
Real GDP Growth
Inflation 7.2 3.7 11.3 5.8 5.1
Consumer Price Index 9.1 12.4 9.1 5.8 5.2
Wholesale Price Index 8.0 3.6 8.1 5.7 5.5
Short-Term Interest Rate* 9.6 4.9 6.7 7.6 7.6
Long-Term Interest Rate** 7.6 7.3 7.8 7.9 7.9
Fiscal Balance (per cent of GDP)^ -8.5 -9.6 -8.3 -7.4 -6.7
Current Account Balance (per -2.4 -2.8 -3.2 -3.0 -2.9
cent of GDP)
Note:
*Mumbai Three Month Offer Rate
**10 Year Government Bond
^Gross fiscal Balance for central and State Government.
Rashmi Verma
CPI for Industrial Workers
19.
20. Which is included in Capital budget ?
(A) Income received from public borrowings
(B) Income received from tax-sources
(C) Income received from non-tax sources
(D) All of the above
Where is Indian Diamond Institute (IDI) established ?
(A) New Delhi
(B) Mumbai
(C) Surat
(D) Jaipur
21. Process of economic development means—
(A) Economic change
(B) Social change
(C) Ethical, institutional and cultural change
(D) All of the above
What is the main characteristic of a capitalist or free market economy ?
(A) Individuals are the owners of factors of production
(B) Profit is the main motive of carrying out various activities
(C) Consumer freedom
(D) All of the above
22. Which of the following is not a direct tax ?
(A) Income tax
(B) Property tax
(C) Sales tax
(D) House tax
Which government income is included in revenue budget ?
(A) Tax-revenue
(B) Non-tax-revenue
(C) Both of above
(D) None of the above
Indian companies have major outsourcing deals from the US. India's exports to the US have also grown substantially over the years. The India economy is likely to lose between 1 to 2 percentage points in GDP growth in the next fiscal year. Indian companies with big tickets deals in the US would see their profit margins shrinking.As of now, IT and IT-enabled services, textiles, jewellery, handicrafts and leather segments will suffer losses because of their trade link. Certain sections of commodities could face sharp impact due to the volatile nature of these sectors.