Economy of India

Modern Indian notes

Rank 11th (nominal) / 4th (PPP)

Currency 1 Indian Rupee (INR) ( ) = 100 Paise

Fiscal year Calendar year (1 April — 31 March)

Trade organizations WTO, SAFTA, G-20 and others

Statistics

$1.235 trillion (nominal: 11th; 2009)[1]

GDP
$3.526 trillion (PPP: 4th; 2009)[1]

GDP growth 8.8% (2010, Q1)[2]

$1,032 (nominal: 142th; 2009)[1]

GDP per capita
$3,015 (PPP: 127th; 2009)[1]

agriculture (18%), industry (22%), services (60%)

GDP by sector
(2009)

Inflation (CPI) 8.62% (September 2010)[3]

Population
37% (2010)[4]
below poverty line
Gini index 36.8 (List of countries)

Labour force 467 million (2nd; 2009)

Labour force agriculture (52%), industry (14%), services (34%)

by occupation (2009 est.)

Unemployment 9.4% (2009-10)[5]

telecommunications, textiles, chemicals, food

processing, steel, transportation equipment,
Main industries
cement, mining, petroleum, machinery, information
technology, pharmaceuticals

Ease of Doing
133rd[6]
Business Rank

External

Exports $176.5 billion (18th; 2009)

software, petroleum products, textile goods, gems

Export goods and jewelry, engineering goods, chemicals, leather
manufactures

Main export
US 12.3%, UAE 9.4%, China 9.3% (2008)
partners

Imports $287.5 billion (15th; 2009)

Import goods crude oil, machinery, gems, fertilizer, chemicals

Main import China 11.1%, Saudi Arabia 7.5%, US 6.6%, UAE 5.1%,
partners Iran 4.2%, Singapore 4.2%, Germany 4.2% (2008)

Home: $161.3 billion (24th; 2009)

FDI stock
Abroad: $77.4 billion (24th; 2009)

Gross external debt $223.9 billion (31 December 2009 est.)

Public finances

Public debt 58% of GDP (2009 est.)[7]

Revenues $129.8 billion (2009 est.)

Expenses $214.6 billion (2009 est.)

Economic aid $1.724 billion (2005)[8]

Foreign reserves $294.01 billion (6th; Oct 2010)

The economy of India is the eleventh largest economy in the world by nominal GDP[1] and the
fourth largest by purchasing power parity (PPP

)De-valuation of INDIAN CURRENCY. The rate of doller should touch around 60Rs. As a
result indian currency will vanish and dollar appreciation will increase. By this Indian industry
will die and more poorer & beggers are generated eliminating middle class section and our
society will become 90% beggers and 10%rich.
2)All Govt. run organizations to be dis-invested and become private under FDI. By this again
dollar will replace indian currency and helps rich to become more rich.
3)From the above all indian properties like dams,power stations,roads,govt building,govt
property, financial institutions will come under foreign control. Finally what EAST INDIA
COMPANY thought around 400yrs ago will be installed in INDIA and the country will be under
the hands of USA.
Ba**rds, these people are called enterprisers,businessmen and pariotic people. Media protray
these people are ICON and FUTURE of INDIA.

Obama visit will elevate India-

External Affairs Minister S M Krishna on Friday said that US President Barack Obama’s recent visit
will “elevate” the India-US strategic partnership to a new level in the long term.

The visit was successful in strengthening mutual understanding on regional and global issues;
accelerating the momentum of our bilateral cooperation; and creating a long-term framework to
elevate the India-US strategic partnership to a new level,”

Earlier, the US President Obama had recognized an inter-relationship between war against
terrorism in Afghanistan, issue of Kashmir and arms race between Pakistan and India. No doubt,
he wanted to increase troops in Afghanistan for combating terrorism, but had repeatedly said that
the United States should help in resolving the Kashmir dispute between Pakistan and India to
deal with the problem of militancy in the region.

While on the other hand, President Obama’s recent visit to India has left a negative impact on whole the
region. On November 6, this year, he announced $10 billion in trade deals with New Delhi to create
more than 50,000 US jobs, declared the measures

On the last day of his visit, Obama addressed the Indian Parliament. He said many things India wanted to
hear, and a few things it didn't. The most important was his vocal support for India getting a permanent
seat in the reformed U.N. Security Council (UNSC). Since such a statement would not come without
conditions attached, he asked India to play an active role in passing and enforcing sanctions resolutions
during its two-year stint as a non-permanent member. By this, he wanted India to change its consistent
stance on Iran. This was also reflected in the joint statement issued by both countries. On Iran, both
leaders reaffirmed their commitment to diplomacy and discussed the need for India to meet its
obligations towards the International Atomic Energy Agency and UNSC.

Indians companies bought 143 US companies in the last two years.HCL technologies has helped
developed safety and navigation equipment for Boeing’s new 787 Dreamliner jet aircraft. In America
since 1989, HCL employs 3,000 in 21 US locations and serves clients in 200 US cities.Jet Airways has
purchased 72 airplanes from Boeing. With 120 direct employees

We have to realise that we live in global village. US-India partnership is very crucial. since we
have 2 stupid neigbour. america hate them too, but it is only with them for need.

The US would be spending a whopping $200 million (Rs. 900 crore approx) per day on President Barack
Obama's visit to the city.

"The huge amount of around $200 million would be spent on security, stay and other aspects of the
Presidential visit," a top official of the Maharashtra Government privy to the arrangements for the high-
profile visit said.

About 3,000 people including Secret Service agents, US government officials and journalists would
accompany the President. Several officials from the White House and US security agencies are already
here for the past one week with helicopters, a ship and high-end security instruments.

Read more at: http://www.ndtv.com/article/india/us-to-spend-200-mn-a-day-on-obama-s-mumbai-

visit-64106?cp
Read more at:

2G spectrum
ccusing Prime Minister Manmohan Singh of a "conspiracy of silence" and "culpability of inaction" in the
2G spectrum controversy, the Bharatiya Janata Party (BJP) Saturday demanded interrogation and arrest
of former communications and IT minister A.Raja, who resigned this week under pressure from the
opposition.

Talking to media persons in Delhi, BJP spokesman Ravi Shankar Prasad fired several questions at the
prime minister about why the 2G spectrum was allowed to be sold at 2001 prices and why he keep quiet
when cut-off date for open licence applications was "arbitrarily" advanced in 2007.

Releasing three letters of correspondence between the prime minister and Raja, Prasad wondered why
Manmohan Singh did not call for the entire file relating to 2G spectrum and record his displeasure over
blatant violation of norms.

Referring to Raja's Dec 26, 2007, letter to the prime minister, Prasad said Raja had talked of taking "pre-
emptive and pro-active decisions" to avoid further delay and confusion.

"Inferences will be drawn from the language he (Raja) has used," Prasad said.

He said the prime minister in his letter of November 2, 2007 had talked of transparency in allocation of
spectrum but had not taken follow-up measures.

Prasad said the 2G spectrum issue had been debated and discussed in parliament many times and the
party wanted action from the government.

"Now we want action, not debate. All the persons in the CBI (Central Bureau of Investigation) inquiry
should be interrogated. Raja also should be interrogated and arrested. All beneficiaries and patrons of
Raja should be investigated," Prasad said.

Stepping up the attack on Manmohan Singh, Prasad said the "orchestrated praise about the prime
minister's integrity cannot wash away the stain of inaction and indifference".

"It is a glaring case where Prime Minister Manmohan Singh is patently involved in the conspiracy of
silence, culpability of inaction and guilt of gross indifference when nation's wealth was being plundered
by a minister right under his nose by a massive abuse of system, and yet he looked the other way."

He said it was surprising that ministers and Congress leaders had suddenly come to the defence of prime
minister over the scam which has led to a colossal loss of Rs 1.76 lakh crore to the nation.

"However, this sudden playing of 'raag darbari' cannot hide stark facts," Prasad said.

He sought to know why the prime minister did not order review of the entire allocation of 2G spectrum
and ordered an inquiry when the 3G spectrum auction earned Rs.one lakh crore against the target of Rs.
35,000 crore.

"Why the prime minister kept silent when about 85 ineligible companies, as found by Comptroller and
Auditor General (CAG), were granted letters of intent," Prasad asked.

"As a result Swan telecom which won the licence for about Rs 1,500 crore and Unitech which won the
licence for about Rs 1,600 crore and many others sold a part of their equity to foreign partners, who
sprang overnight, at a price ranging from Rs.7,000-9,000 crores. When all this was happening why did
the prime minister kept quiet when confirmed evidence of deliberate under-pricing of 2G spectrum
became evident?"

"The CBI started investigating the matter in October 2009 and in the interim report found that a scam of
nearly Rs 25,000 crore has taken place. Why was the CBI not allowed to interrogate the telecom
secretary, and other key officials in spite of a raid in the ministry. Leave aside permitting the
interrogation of A. Raja or even changing his department, the prime minister brought the integrity
standard to and all time low by forcing the appointment of the then telecom secretary as the CVC
(central vigilance commissioner)," Prasad said.