Economy of India
India is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, India may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, India exports around $313.2 billion and imports roughly $467.5 billion. 3.5% of population in the country are unemployed. The total number of unemployed people in India is 47,391,815. In India, 22% of the population lives below the poverty line. The percentage of citizens living below the poverty line in India is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 3.1% of GDP. The Gini Index of the country is 33.6. India is experiencing good equality. The majority of citizens in India fall within a narrow range of income, although some cases may show significant differences. India has a Human Development Index (HDI) of 0.586. India has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for India is 2.504. The strength of legal rights index for India is 6. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.
The currency of India is Indian rupee. The plural form of the word Indian rupee is rupees. The symbol used for this currency is ₹, and it is abbreviated as INR. The Indian rupee is divided into Paisa; there are 100 in one rupee.
The depth of credit information index for India is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, India has a credit rating score of BBB-, and the prospects of this rating are positive. According to the Fitch credit-rating agency, India has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, India has a credit rating score of Baa3, and the prospects of this rating are positive.
In India, the institution that manages the state's currency, money supply, and interest rates is called Reserve Bank of India. Locally, the central bank of India is called भारतीय रिज़र्व बैंक. The average deposit interest rate offered by local banks in India is 7%.
India has a government debt of 53.8% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in India is set at 30%. Personal income tax ranges from 0% to 30%, depending on your specific situation and income level. VAT in India is 14.5%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in India is $7411093 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in India was last recorded at $5 million. PPP in India is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in India is 1,937,797 billion. Based on this statistic, India is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in India. The Gross Domestic Product (GDP) per capita in India was last recorded at $1 million. The average citizen in India has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in India averaged 5.6% in 2014. According to this percentage, India is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of India.
Major industries in the country are textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals. The total labor force of India is 520,193,950 people, wherein 3.5% of population in the country are unemployed. The total number of unemployed people in India is 47,391,815. The Industrial Production growth rate of India is 9.7%.To read more about industrial information within India click on industry of India.
There are 1451810 km2 of arable land in India, and it comprises 44% of the country's total territory. There are 1535063 km2 of cultivated land in India. The country's major agricultural crops and products are rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils, onions, potatoes, dairy products, sheep, goats, poultry, fish.To read more about agriculture click on agriculture of India.