Monday, March 8, 2010

Indian Economy 2010 Overview

The economy of India is the twelfth largest economy in the world by nominal value and the fourth largest by purchasing power parity (PPP) [how much that money can buy in India compared to other countries.
As per the advance estimates of GDP for 2009-10, released by the Central Statistical Organization (CSO), the economy is expected to grow at 7.2 per cent in 2009-10.[Download PDF Version]
Generally the following are the (eight) sectors used for calculating the GDP in India by CSO.
The First three quarters of fiscal year 2009-10:

Q1
Q2
Q3

1.       Agriculture, Forestry & Fishing
2.4
0.9
-2.8

2.       Mining & Quarrying
7.9
9.5
9.6

3.       Manufacturing
3.4
9.2
14.3

4.       Electricity, Gas & Water Supply
6.2
7.4
4.0

5.       Construction
7.1
6.5
8.7

6.       Trade,  Hotels , Transports & Comminication
8.1
8.5
10.0

7.       Financing,  Insurance,  Real  Estate  &  Business  Services
8.1
7.7
7.8

8.       Community, Social & Personal Services
6.8
12.7
-2.2

GDP at Factor Cost
6.1
7.9
6.0


Note: Q1(April-June), Q2(July-Sep), Q3(Oct-Dec), Q4(Jan-March)
Per Capita Growth:
The growth rates in per capita income and consumption, which are gross measures of welfare in general, have declined in the last two years. While the growth in per capita income, measured in terms of GDP at constant market prices, has declined from a high of 8.1 per cent in 2007-08 to 3.7 per cent in 2008-09 and then recovered to 5.3 per cent in 2009-10.

Income

Consumption







Rs
(%)

Rs
(%)


Growth


Growth





2004-05
29,745

17,620

2005-06
32,012
7.6
18,909
7.3
2006-07
34,533
7.9
20,168
6.7
2007-08
37,328
8.1
21,841
8.3
2008-09
38,695
3.7
23,012
5.4
2009-10
40,745
5.3
23,626
2.7

The below figure shows the growth of different sectors in the years between 2005-06 to 2008-09. For the year 200-10 it is estimated by CSO.
Rate of Growth at factor cost at 2004-05 prices (percent):
                   

2005-06    2006-07    2007-08
2008-09   2009-10


Agriculture, Forestry & Fishing
5.2
3.7
4.7
1.6
-0.2


Mining & Quarrying
1.3
8.7
3.9
1.6
8.7


Manufacturing
9.6
14.9
10.3
3.2
8.9


Electricity, Gas & Water Supply
6.6
10.0
8.5
3.9
8.2


Construction
12.4
10.6
10.0
5.9
6.5


Trade,  Hotels  &  Restaurants
12.4
11.2
9.5
5.3
8.3*


Transport,  Storage  &  Communication
11.5
12.6
13.0
11.6



Financing,  Insurance,  Real  Estate  &  Business  Services
12.8
14.5
13.2
10.1
9.9


Community, Social & Personal Services
7.6
2.6
6.7
13.9
8.2


GDP at Factor Cost
9.5
9.7
9.2
6.7
7.2

Source: CSO
*  Transport  &  communication  included  for  2009-10  in  trade,  hotels  and  restaurants.
Inflation:
Inflation is a rise in the general level of prices of goods and services in an economy over a period of time.
The primary tool for controlling inflation is monetary policy. RBI raised Cash Reserve Ration (CRR) to curb inflation in the Third quarter Review of Monetary Policy for 2009-10.
The Wholesale Price Inflation (WPI) is at present calculated with 1993-94 as the base year. The new index, with 2004-05 as the base year, will have 250 new items and is expected to provide a more realistic picture of price rise and its impact on people. April(2010) data would be released on May with the new base year.
Inflation during the month of January 2010 – 8.56%.
Inflation during the month of December 2009 – 7.31%.
Inflation during the month of November 2009 – 4.78%.
India’s External Debt:
As per the standard practice, India's external debt statistics for the quarters ending March and June are released by the Reserve Bank of India and those for the quarters ending September and December by the Ministry of Finance. 
India’s external debt, as at end-September 2009, was placed at US$ 242.8 billion.
India’s external debt, as at end-June 2009, was placed at US $ 229 billion.
India’s external debt, as at end-March 2009, was placed at US $ 224 billion (22.0 per cent of GDP).

11 comments:

Revathy said...

hi varun, this is very useful information..thanks a lot ., one small req, d font size is very small..culdnt read continuosly..plz increase d text size..thanks !!

Varun said...

Revathy:
If font is increased the table contents are disturbed....!!!That's why i kept Download PDF option. plz download and you can read with normal font.

Revathy said...

k thanks varun :)

subodh said...

realy very good information about indian economy.
thanks

subodh gupta

Unknown said...

hi varun !!!
thks a lot for resolving my query related to gdp n inflation rate ... i really appreciate ur efforts ... by da way i wanna tell u dat ur previously posted general awareness info relly helped me in SBI ASSOCAITE PO EXAM.....
thks a lot once again.....

Sourabhi said...

hii varun...

i wanted to knw that wen will the SBI Associate result wud come?? will it 6 mnths?? As SBI clerical s takin hell lot of time.. will dis also take the same amount of time?? plzz answer me if possible....

Varun Reddy said...

For any PO exam results It will take around two months...
SBI Associates results may be in May-June.
Why for clericals they have taken more time is....??
1)About 26 lakhs were appeared for the exam of about 36 lakhs registered in Clerical.
2)There are in a consideration to scale up employees from 11,000 to 25,000 so thats why the result is delayed.You have seen the news mentioned above the blog right hand side titled Bank News.

Anonymous said...

Hi Varun,

Thanks a lot for info regarding Indian economy.Could you please tell us when can we expect results for Indian bank PO exam which was held on 17th jan.I think so many people are eagerly waiting for the resutls like me :)

rakesh said...

HEY VARUN THIS IS THE 1ST TIME I AM SENDING U A COMMENT ...ITS ALWAYS GOOD TO VISIT THIS BLOG AS IT IS VERY MUCH BENEFICIAL FOR ALL THE ASPIRANTS.I THINK YOU ARE HERE FOR A NOBEL CAUSE AND I WISH U SUCCESS IN YOUR BLOG....THANKS

kartikrishu said...

hii,,,i am preparing for bank p.o. can you plz tell the cutt off marks in g.a. for general candidates.is it 50% or below,,,&& also tell which book is best for bank p.o. g,a..waiting for ur ans.....

ANOOP JOHN said...

HEY GUYS THANKS FOR ALL THE GA CONTENT PROVIDED HERE. ALL THIS STUFF IS REALLY USEFUL IN PREPARING FOR BANK PO EXAMS..
THANKS GUYS!!!!