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1 India’s economy: the main trends
2 The year-wise position, especially after 2002
3 Carbon footprint
- 3.1 2020: an all- India survey
4 Agriculture’s share in India’s economy
- 4.1 1950-2011
5 Balance of payment/ current account deficit
- 5.1 2016-2017
6 Governments and economic growth
- 6.1 1947-2018: India has performed better under ‘weak’ governments
7 Governments and economic policy
- 7.1 Policy uncertainty, 2004-19
8 India's economy vis-à-vis the world
9 Nature, dependence on
- 9.1 2017
10 Macro-indicators
- 10.1 During global crises
  - 10.1.1 2008-22
11 Public vis-à-vis private sector
- 11.1 Market share: 2020
12 Purchasing power of individuals/ Affordability of things
- 12.1 1991> 2019
  - 12.1.1 Part B
13 Three levers of economy (inflation, deficit, GDP growth)
- 13.1 1970-2020
14 2016 : Demonetisation
15 PART II OF THIS PAGE
16 Capital expenditure
- 16.1 …by the states, 2015-19
17 See also
- 17.1 And also...

[edit] India’s economy: the main trends

[edit] A.D. 1 to 2003

See Economic history: India

[edit] The British Era

See Economic history: India

[edit] 1962-2021

February 2, 2022: The Times of India

Indian economy, trends- 1962-2021
From: February 2, 2022: The Times of India

Most economies shift from agriculture to services via a vigorous industrial age, but India moved up the ladder from ‘Jai Kisan’ to ‘Hello, World’ without really resting its weight on the rung of industry. Industrial output has never made up more than a third of India’s GDP while services have accounted for more than half for over a decade. Yet, this seemingly young economic proﬁle hides the fact that most Indians still live from hand to mouth, exhausting their earnings on the basic needs of food, housing and transport. And while stock markets soar, the average Indian still invests the old way in bank deposits, provident funds and life insurance

BUDGET RESEARCH: Atul Thakur; DESIGN: Nirmal Sharma, Chanchal Mazumder, Sunil Singh, Anil Dinod, Karthic R Iyer, Arya Praharaj, Asheeran Punjabi, Deepti Singh; ADMINISTRATIVE SUPPORT: Sanjay Kalia

[edit] 1975-2015

The Indian economy, 1975-2015: GDP, the rupee exchange rate, exports, fiscal deficit and inflation, The Times of India

See graphic, 'The Indian economy, 1975-2015: GDP, the rupee exchange rate, exports, fiscal deficit and inflation'

[edit] 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex, FII flow

India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow
From: December 19, 2020: The Times of India

See graphic:

India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow

[edit] 1980-2020

The GDP of India (in PPP terms) vis-à-vis the GDPs of the other top 7 economies of the time, 1980-2020
From: December 23, 2020: The Times of India

See graphic:

The GDP of India (in PPP terms) vis-à-vis the GDPs of the other top 7 economies of the time, 1980-2020

[edit] 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex, FII flow

India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow
From: December 19, 2020: The Times of India

See graphic:

India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow

[edit] 1991-21: salaries, wealth, share of agriculture, women workers

1991-21: salaries, wealth, share of agriculture, women workers in India
From: February 2, 2021: The Times of India

See graphic:

1991-21: salaries, wealth, share of agriculture, women workers in India

[edit] 1997-2018: Fiscal Deficit to GDP

Fiscal Deficit to GDP, 1990-2018
This is the size of the government’s debt as a proportion of the overall size of the economy.Data source for this chart: World Bank
From: January 29, 2018: The Times of India

See graphic:

Fiscal Deficit to GDP, 1990-2018

[edit] 1997-2018: Gross Fixed Capital Formation (GFCF)

Gross Fixed Capital Formation (GFCF) is an indicator of how much investment activity is happening in the country and a slowdown on this front does not bode well for overall growth and job creation- 1997-2018
Data source for this chart: World Bank
From: January 29, 2018: The Times of India

See graphic:

Gross Fixed Capital Formation (GFCF) is an indicator of how much investment activity is happening in the country and a slowdown on this front does not bode well for overall growth and job creation- 1997-2018

[edit] 1997-2018: Inflation trend

Inflation trend, 1997-2018
This is the rate at which the general level of prices in the economy is rising.Data source for this chart: World Bank
From: January 29, 2018: The Times of India

See graphic:

Inflation trend, 1997-2018

[edit] 1997-2018: Unemployment Rate

Unemployment Rate, 1997-2018
The unemployment rate measures the proportion of people in the labour force looking for a job but unable to find one.Data source for this chart: World Bank
From: January 29, 2018: The Times of India

See graphic:

Unemployment Rate, 1997-18

[edit] 2009-18: ₹ vs. $/ GDP/ adding $1 trillion to GDP

i) 2009-19: The Indian rupee appreciated twice vis-à-vis the US dollar; ii) The number of years that it took China and India to add each $1 trillion to their GDPs/ economies; iii) 2014-18: India’s GDP estimated by three different methods.
From: June 18, 2019: The Times of India

See graphic:

i) 2009-19: The Indian rupee appreciated twice vis-à-vis the US dollar; ii) The number of years that it took China and India to add each $1 trillion to their GDPs/ economies; iii) 2014-18: India’s GDP estimated by three different methods.

[edit] 2011/ 13-19

The Indian economy, 2013-19:
i)Growth rate vis-à-vis the world;
ii) Inflation;
iii) Growth in loans and advances of NBFCs;
iv) Tax to GDP ratio;
v) Items of revenue expenditure, unproductive expenditure
From: July 5, 2019: The Times of India

See graphic, ‘ The Indian economy, 2013-19:
i)Growth rate vis-à-vis the world;
ii) Inflation;
iii) Growth in loans and advances of NBFCs;
iv) Tax to GDP ratio;
v) Items of revenue expenditure, unproductive expenditure '

[edit] 2017>19: The slowdown in demand

2017>19: The slowdown in demand
From: Nov 1, 2019: The Times of India

See graphic:

2017>19: The slowdown in demand

[edit] 2020, the year of the Covid pandemic

January 22, 2021: The Times of India

Quarterly GDP growth, 2014-21
From: January 22, 2021: The Times of India

RBI sees V-shaped recovery: State of Indian economy explained in 10 charts

NEW DELHI: With domestic activity gradually returning to pre-Covid levels, the Reserve Bank of India (RBI) sees a phoenix-like recovery for the Indian economy.

According to a recent report published by the central bank, the country's gross domestic product (GDP) is not far from attaining positive growth. It observed that the economy will experience a V-shaped recovery in 2021, where V will stand for vaccine. India has already started one of the world’s biggest vaccination drives against Covid-19. It plans to inoculate about 300 million people on priority by year end.

RBI's report also stated that barring another wave of Covid, the worst is over for India. Hence, policymakers might soon have more room to support the recovery process.

State of Indian economy

The Covid-19 pandemic has been a human and economic catastrophe for India. Almost one-fourth of the country's economic activity was wiped out due to fall in domestic demand in wake of the strict nationwide lockdowns to curb Covid infections.

India's GDP dipped a historic 23.9 per cent in the first quarter (Q1) of 2020. The contraction narrowed down to 7.5 per cent in the second quarter (Q2).

However, so far India seems to have managed the Covid crisis pretty well.

The first advance estimates of national income for 2020-21 released by the National Statistical Office (NSO) estimated real GDP growth in 2020-21 to be at (-) 7.7 per cent as against (-) 10.3 per cent projected by the International Monetary Fund (IMF) in October 2020. In December 2020, RBI’s monetary policy committee (MPC) had projected GDP to be (-) 7.5 per cent.

Rise in government expenditure

Total expenditure of the government surged 48.3 per cent on year-on-year (y-o-y) basis in the month of November. While, capital expenditure shrugged off a three-month contraction and expanded 248.5 per cent.

This was mainly due to the introduction of the Atmanirbhar Bharat package.

Revival of imports, exports

After contracting for 9 consecutive months, merchandise imports finally experienced a growth of 7.6 per cent (y-o-y) in December 2020.

The revival was led by gold, electronic goods and vegetable oils. Rising imports of pearls and precious stones, machinery, electronic goods and textiles reflect the revival of domestic activity as they are of the nature of intermediate goods in supply chains. This also augurs well for exports going forward.

This suggests that moribund absorptive capacity of the economy is coming back to life, backed by domestic demand.

India’s merchandise exports have reached pre-Covid levels and exhibited a growth of 0.1 per cent in December 2020. Non-oil exports actually expanded by 5.6 per cent, marking the fourth consecutive month of positive growth.

Financial markets surge

The Covid-19 pandemic dragged the sensex to record low in late March 2020. But, it staged a strong recovery from the lows. Both the BSE and NSE indices finally wrapped up 2020 on a bullish note, with sensex gaining nearly 16 per cent.

The BSE index jumped almost 91 per cent from its record low of 25,881 to breach the 50,000-mark in just over 10 months.

IPO market

During December 2020, the listing of two initial public offerings (IPOs), aggregating Rs 1,351 crore, took the total resource mobilisation through main board IPOs to Rs 15,971 crore during 2020-21 (up to December 2020), marking a sharp rebound from Rs 10,487 crore in the corresponding period of the previous year.

Beginning with the first IPO issued in July 2020, healthcare and finance sector companies have garnered the maximum amount of resources among all initial offerings.

Industrial activity

Although industrial output remains volatile, contracting by 1.9 per cent in November 2020 after a record expansion in October by 4.2 per cent, industrial activity is finally turning around.

The headline purchasing managers’ index (PMI) manufacturing expanded in December 2020 to 56.4, a tick higher than November’s reading of 56.3. Both new orders and output continued to grow strongly.

Record GST collections

The gross Goods and Services Tax (GST) collections touched a record high of over Rs 1.15 lakh crore in December — the highest since the implementation of the regime. The collection indicates that the economy continues to show signs of recovery after a stringent lockdown last year.

With this, the GST has also now crossed the psychological Rs 1 lakh crore-mark for the third straight month in the current fiscal.

Fall in government revenue

Even though GST collections have been at record levels during the year, the pandemic has inflicted a ‘scissor effect’ on government revenues.

On the one hand, it stretched expenditure on account of fiscal support to the economy that was completely unanticipated at the time of drawing up Budgets for 2020-21.

On the other, there was contraction in revenues as activity went into complete standstill with lockdowns and other containment measures.

As a result, the general government gross fiscal deficit (GFD) rose to 14.5 per cent in the first half of 2020-21.

[edit] 2015-22

The Indian economy- the main trends 2015- 2022/ A
From: February 1, 2023: The Times of India

The Indian economy- the main trends 2015- 2022/ B
From: February 1, 2023: The Times of India

See graphics:

The Indian economy- the main trends 2015- 2022/ A

The Indian economy- the main trends 2015- 2022/ B

[edit] The year-wise position, especially after 2002

i) New jobs created in India, 2010-16;
ii) Sales Growth of corporate India-Nominal and Real (%), 2002-17;
iii) Quarterly growth in Gross Fixed Capital Formation (%), Jun 2013- Sept 2016; The Times of India, January 31, 2017

[edit] 2004- 18

Better growth prospects in FY19, but oil a risk: Expert, June 1, 2018: The Times of India

The growth of India’s GDP, 2004- 18.
2016-18
i) Sector-wise growth, and
Growth in per capita income
From: Better growth prospects in FY19, but oil a risk: Expert, June 1, 2018: The Times of India

Economists are predicting a further pick-up in activity during the current financial year on the back of higher consumption demand, a stable GST and a surge in investment towards end of the year. But they have identified higher crude oil price and its impact on inflation, current account deficit and overall growth as risk factors that are expected to weigh on RBI’s Monetary Policy Committee (MPC), which meets next week.

Most economists are predicting a GDP growth rate of 7-7.5%, with a majority closer to the upper end of the band. A few have already lowered their projections, such as Moody’s which cut from 7.5% to 7.3%, citing the impact of crude. But others, including the government, are sticking to their earlier estimates.

“I don’t think we are revising our estimates or the forecast for the current year, which is about 7.5%. We retain it at that level... there is no one-to-one relation between the oil price growth and the GDP growth. There have been various quarters and years when oil prices have gone up but there has been growth also. So, we at this moment feel that we should retain (the growth estimate),” economic affairs secretary Subhash Chandra Garg told reporters after the GDP numbers were released.

Economists too are bullish at the moment. “The growth is likely to realise from pick-up in consumption, especially rural consumption, with the forecast of normal monsoon, increased public sector spending and uptick in performance of the manufacturing sector in coming quarters. The manufacturing sector, which witnessed improvement in the last three quarters, is expected to benefit in Q1 of FY19 due to favourable base effect. In addition, investment rate has seen some improvement on the quarterly basis and is expected to maintain the momentum going ahead,” said Madan Sabhnavis, economist at CARE, while forecasting 7.5% growth this fiscal.

Health of the banking sector will also be crucial. “The ability of public sector banks to support lending growth, the risk of monetary tightening and trade wars, and impact of higher crude oil prices on purchasing power of consumers and corporate earnings have emerged as risks,” said Aditi Nayar, principal economist at ICRA.

[edit] 2004-14 vis-à-vis 2014-18

The Indian economy in 2004-14 vis-à-vis 2014-18-
i) Consumption,
ii) Investment,
iii)Credit Growth,
iv) Fiscal Deficit,
v) Wholesale Price Inflation,
vi) Interest Rates,
vii) Current account Deficit,
viii) Foreign Exchange Reserves
From: August 23, 2018: The Times of India

See graphic:

The Indian economy in 2004-14 vis-à-vis 2014-18- Consumption, Investment, Credit Growth, Fiscal Deficit, Wholesale Price Inflation, Interest Rates, Current account Deficit, Foreign Exchange Reserves

[edit] 2004-14 (and 1988-89, 1994-2003)

India clocked 10.08 per cent growth under Manmohan Singh's tenure: Report, August 18, 2018: The Economic Times

Estimation of average growth- 1994- 2014
From: India clocked 10.08 per cent growth under Manmohan Singh's tenure: Report, August 18, 2018: The Economic Times

The numbers have been calculated by a committee set up by the National Statistical Commission.

India’s economic growth numbers, adjusted for the base year of FY12, show that expansion was marginally higher under the new series after the economy picked up pace in FY04 and generally lower in the preceding years.

The numbers have been calculated by a committee set up by the National Statistical Commission. Former chief statistician Pronab Sen said the exercise was a good start but that more work was needed.

The report shows real GDP growth touching a high of 10.08% in 2006-07 in terms of factor cost, the highest since liberalisation of the economy in 1991 and the second highest ever, behind 10.2% during the Rajiv Gandhi administration in 1988-89. Under the old series, growth in 2006-07 was 9.57%.

In terms of market prices, the highest growth was 10.78% in 2010-11.

The new GDP series with FY12 as the base year was begun in 2015 and follows internationally accepted methods based on market prices as opposed to the factor cost method followed earlier and uses corporate numbers to estimate manufacturing output.

The committee has issued adjusted numbers for the 1994-2014 period. Average growth in first five-year term of the Congress-led United Progressive Alliance (UPA-1), FY05-09, goes up under the new series to 8.37% from 8.03% earlier in terms of market prices.

In terms of factor cost, the increase is from 8.43% to 8.87%. Average growth during the preceding Bharatiya Janata Party-led National Democratic Alliance administration is down marginally from 5.89% to 5.73%. In terms of factor cost, the decline was from 6.01% to 5.83%.

In the first three years of UPA-2 (FY10-12), the average growth rate goes up from 8.46% to 8.86%. In terms of factor cost, the revision is up from 8.06% to 8.49%. Growth data based on the old series is available till FY12 while the revised series is till FY14.

The Congress party said growth numbers were better under the UPA. “It proves that like-for-like, the economy under both UPA terms (10-year avg: 8.1%) outperformed the Modi Govt (avg 7.3%),” the party’s official handle tweeted. “The UPA also delivered the only instance of double-digit annual growth in modern Indian history.”

Over the 1994-95 to 2002-03 period, the restated growth under the new series is lower than GDP estimated according to market prices.

“Growth is higher in the new back series especially for value-added growth,” said Aditi Nayar, principal economist at ICRA. “There is a fairly secular trend after 2003-04.”

The committee said the deviations were not significant and attributed these to discrepancies.

“When we look at the growth rates, there are some differences, although not significant and this is largely due to the ‘discrepancy’ variable, which is found to be highly volatile,” it said.

Former chief statistician Pronab Sen said: “It is a good start but the committee has used some proxies to generate the series so one needs to see how consistent these methods are by themselves.”

The statistics office has not yet taken a call on the numbers.

“These are indicative numbers to decide the approach,” said a statistics ministry official. “These will be sent to the advisory committee on national accounts and based on its approval, we will work on sectoral data.”

Officials of Central Statistics Office were also involved in the recommendations made in the report. NR Bhanumurthy, professor at National Institute of Public Finance and Policy (NIPFP) and member of the committee, said the back series is consistent with the new series and would be helpful for research.

ONE METHOD The committee has restated the old series using one of the possible three ways--the production shift method. This is different from the method currently followed in compiling GDP data.

The committee recommended that the other two methods should be also used to calculate the back series and when these numbers become available then “the time series data based on all the three approaches should be compared for their robustness.”

The CSO has already computed the growth rates of GVA/GDP (gross value added/gross domestic product) estimates from 2004-05 to 2011-12 at current and constant prices using the current methodology. These are tentative estimates that need to be deliberated on by the advisory committee on national accounts, the committee noted in its report, and have not yet been presented.

[edit] 2004-14 vis-à-vis 2014-19

Vivek Kaul, Manmohan Singh vs Narendra Modi: The real India growth story, April 12, 2019: Livemint

The quality of India GDP data came into question when GDP growth in FY17 was revised to 8.2%—the highest in any year between FY12 and FY19, despite demonetisation GDP growth under Narendra Modi was faster than under Manmohan Singh. The question, though, is: does this pass the basic smell test?

The quality of India’s economic data in general, and gross domestic product (GDP) data in particular, has come in for questioning in recent months. Those questions only acquired more urgency in January, when the GDP growth in 2016-17 was revised to 8.2%—the highest in any year between 2011-12 and 2018-19.

In 2016-17, a large section of the informal economy, which forms a significant portion of the Indian economy, was severely hit by demonetisation. Hence, the question: how did the economy grow at 8.2% during the year? Between 2009-10 and 2013-14, the period during which Manmohan Singh was the prime minister, the Indian economy grew by 6.7% per year. Between 2014-15 and 2018-19, the Indian economy is supposed to have grown at 7.5% per year. Narendra Modi has been prime minister during this period (from 26 May 2014 onwards).

Hence, the economic growth during the Modi years has been faster in comparison to the growth during the Manmohan Singh years. The question, though, is: does this pass the basic smell test? One way of figuring this out is to take a look at real-time economic indicators which capture the economic decisions of the average Indian.

Since January 2015, when India adopted a new way of calculating the GDP, the growth figure has not been in line with high-frequency economic indicators that reflect the economic decisions of individuals. Unlike GDP growth, the economic indicators used here, from domestic car sales to steel output, are real numbers (except inflation) and not theoretical constructs. So, if domestic car sales are growing, it is a reflection of robust urban consumer demand. If steel production is growing, it shows a robust car industry which uses a lot of steel, and a better physical infrastructure that can be used by individuals, among other things.

Let’s look at 15 economic indicators and see what they suggest. The growth of 11 out of the following 15 economic indicators was better during the second term of Manmohan Singh than Modi’s term. It is worth reminding here that the United Progressive Alliance’s (UPA’s) second term was by all accounts worse than its first term. Hence, we are comparing the worst of Manmohan with the best of Modi.

(1) Domestic two-wheeler sales: Motorcycle sales during the Manmohan Singh’s era grew by 12.44% per year. In Modi’s era, growth was at 5.35% per year. Scooter sales during Singh’s era grew by 25.7% per year. In Modi’s era, the growth was at 13.21% per year. Scooters sell more in urban India than rural India. Motorcycles sell in both urban as well as rural India. The growth rate of 5.35% per year in motorcycle sales during the Modi years is indicative of the agricultural distress and, accordingly, the slow rise in the consumption power of rural India as well.

(2) Domestic car sales: Car sales are an important indicator of how urban India is feeling on the economic front, because no one forces anyone to buy a car. When an individual buys a car (or a two-wheeler for that matter), he or she feels confident enough to make a down payment and pay an equated monthly instalment on the car loan. Car sales grew at 4.42% per year during the Modi years in comparison to 7.92% during the Manmohan years. The major jump during the Manmohan Singh years came in 2009-10 and 2010-11, when car sales increased by 25.22% and 29.08%, respectively. What this again tells us is that urban India, in particular corporate India, has not been very confident on the economic front during the Modi years, irrespective of what they say in public forums. Of course, the growth of cab aggregators Uber and Ola has also played some role in the slowdown of domestic car sales growth in recent years.

(3) Domestic tractor sales: This is a good indicator of how rich farmers are feeling on the economic front. During the Modi years, the tractor sales are expected to grow at 4.49% per year. In comparison, tractor sales grew by 15.73% per year during the Manmohan years. This shows the presence of agriculture distress hurting farmers during the Modi years. In fact, domestic tractor sales in 2013-14 had stood at 634,000. The sales fell over the next two years, and in 2015-16 stood at 494,000. Since then, they have recovered to 724,000 during April 2018 to February 2019.

(4) Incremental retail loans growth: This is an indicator of how a reasonably large section of the population is feeling about their economic future. People usually take a loan when they are confident enough about repaying it. This may not be true about loans given to the industry but is true about retail loans (i.e. home loans, vehicle loans, etc.), given that the bad loan rate of retail loans stands at just 2%. Bad loans are loans which haven’t been repaid for 90 days or more.

Retail loans given out by banks during the Modi era are expected to grow at 19.92% per year in comparison to 22.47% per year during the Manmohan era.

(5) Airline passenger traffic: This is one point that is perpetually brought up by everyone who believes that the Modi government has done well on the economic front. In the Manmohan years, the number of airline passengers grew by 9.20% per year. It is expected to grow at 15.28% per year during the Modi years.

(6) Passenger revenues of Indian Railways: One point which people forget to mention is the fact that the growth in air travel has come at the cost of people upgrading from travelling by Indian Railways. This has led to a slowdown in the growth of passenger revenue of Indian Railways. In the Manmohan years, this was at 10.81% per year. In the Modi years, it is expected to be at 7.32% per year.

(7) Domestic commercial vehicles sales: Robust consumer demand should translate into more investment, with companies expanding to cater to the increasing demand. A good way to check whether this is happening or not is to take a look at domestic commercial vehicle sales. Faster sales indicate robust activity on the infrastructure front as well as the industrial front, which ultimately benefits individuals. Commercial vehicles are used to move around finished as well as semi-finished goods.

During the Modi years, commercial vehicles sales grew at 9.74% per year. In the Manmohan years, they had grown at 10.50% per year. In fact, the growth in commercial vehicles sales during the Modi years has been robust, though it might have been slower than that of Manmohan years. This is primarily on account of the road building programme carried out by the Modi government (as we shall see later).

(8) Cement production: Cement production during the Modi years is expected to grow at 4.32% per year against 7.05% per year during the Manmohan era. The cement consumption has grown at a slow pace during the Modi years despite a massive road building programme.

This essentially tells us two things. First, private sector investment has been slow. Second, the real estate sector, which uses a lot of cement, has been down in the dumps. People aren’t buying new homes. Interestingly, the history of economic development suggests that once people start getting out of agriculture, real estate and construction are the two sectors which they move towards, primarily because both these sectors offer a lot of low-skill jobs. The slow growth in cement production is another indicator that India is not generating enough low-skilled jobs.

(9) Consumption of finished steel: Steel consumption is another great indicator of the investment scenario in the country, as the construction of any new infrastructure requires steel. And better infrastructure essentially leads to an improvement in the ease of living of individuals. Data from India Brand Equity Foundation, a trust established by the ministry of commerce and industry, suggests consumption of finished steel is expected to increase 5.18% per year during the Modi era, in comparison to 7.18% per year during the Manmohan era.

This is indicative of the fact that the investment scenario in India continues to be dull. A dull investment scenario basically means that enough jobs aren’t being created. It also means that the incomes of those who already have jobs are rising at a slower pace.

(10) Income tax growth: This is a good indicator of whether the income of individuals working in the formal sector of the economy is growing or not.

The Modi administration has over the years talked a lot about the income tax collections improving significantly. The income tax collections in the Modi years are expected to grow at 16.85% per year. In comparison, the growth in tax revenue in the Manmohan years was 17.53% per year. The government has also talked about the fact that more people are filing income tax returns now than before. While this is true, this hasn’t exactly translated into faster pace of growth in tax revenue.

(11) Corporation tax growth: Companies pay a higher tax when they sell more stuff, and consequently make a higher profit. They sell more when people consume more. People consume more when they are doing well on the financial front. And that’s possible when the overall economy is doing well. During the Modi years, corporation tax collections are expected to grow by 11.20% per year against 13.09% in the Manmohan years.

(12) Consumption of petroleum products: The consumption of fuel in an economy which is doing well tends to grow at a faster rate. The consumption of fuel products during the Modi years is expected to grow at 5.91% per year against 3.47% during the Manmohan years. This is another economic indicator that has fared better in the Modi years than the Manmohan years. A simple explanation for this lies in the fact that oil prices were much higher between 2011 and 2014 than they have been since then.

(13) Inflation: One of the genuine successes of the Modi government has been on the inflation front. In May 2014, when Narendra Modi took over as prime minister, inflation, as measured by the consumer price index (CPI), stood at 7.72%, with food inflation at 9.21%. In February 2019, inflation was at 2.57%, with food prices falling by 0.66%. During 2018-2019, food prices have risen by just 0.13%.

On the flip side, the lack of food inflation is hurting farmers.

(14) Household financial savings: This is an indicator which tells us how much people are saving. The problem, in this case, is that data is available only from 2011-12 onwards, which is what we will consider. The gross household financial savings when Manmohan Singh was the prime minister grew at 13% per year. In the Modi years (up to 2017-18) they grew by 11.94% per year. As far as net household financial savings (gross household financial savings minus the financial liabilities of households) are concerned, they grew by 13.79% per year in the Manmohan years. In comparison, they grew by 7.38% per year during the Modi years (up to 2016-17).

(15) Road construction: This is another area where the Modi government has done significantly better than the Manmohan Singh government. As of 31 March 2009, the total length of national highways stood at 70,548 kilometres (km). By 31 March 2014, this had increased to 91,287km, at the rate of 5.29% growth per year. By March 2019, the length of national highways is expected to touch 135,676km, with 10,000km of road expected to be constructed during 2018-19. This means an increase of 8.25% per year. Between April and December, 6,715km had already been built.

To conclude, the Manmohan Singh years come out to be much better than the Modi years, in 11 out of the 15 indicators.

This essentially brings us back to the question: When so many economic indicators grew faster in the second term of Manmohan Singh vis a vis the first term of Modi, why doesn’t this reflect in the GDP growth figures of the two eras? The Modi years growing at a faster pace than the second term of Manmohan doesn’t make much sense.

[edit] 2012-16: fastest growth in 5 years

The Times of India, Jun 01 2016

Economic growth, trends, 2012-16; Graphic courtesy: The Times of India, June 1, 2016

Eco grows fastest in 5 years at 7.6%

The country's economy grew 7.6% in 2015-16, the fastest in five years, while growth in the fourth quarter clocked 7.9%, keeping India ahead as the fastest growing major economy in the world.

The GDP data also brought cheers for the government, which has completed two years in office and is showcasing revival of the economy as a major achievement. India's 7.9% expansion in JanuaryMarch (fastest in six quarters) is higher than China's 6.7% expansion in the same quarter.In October-December quarter Indian economy grew 7.2%.Growth was powered by strong expansion in the manufacturing, which grew 9.3% in 2015-16 compared to 5.5% in 2014-15 and the farm sector, which clocked a growth of 1.2% in 2015-16 compared to a contraction of 0.2% in the previous year. The growth in the farm sector was despite the impact of a drought. Policy makers lauded the improving health of public finances. “.. India continues to remain a bright spot in the world economy with robust macro-economic and fiscal parameters,“ the finance mini stry said in a statement. Economist said they expect a good monsoon to support improving growth in the months ahead.

Indian economy: Some facts regarding GDP, Foreign investment, Domestic infrastructure: Graphic courtesy: The Hindu, July 24, 2016

Economic indicators, India: Sensex, Exchange rate, Gross National Product, GDP growth, Forex Reserves, WPI inflation and 10 year gilt yield; Graphic courtesy: The Times of India, August 21, 2016

Real GDP, CPI, WPI, Bank Credit, Expenditure, Current Account Deficit, Repo Rate, 2011-15; Graphic courtesy: India Today, February 15, 2016

Life expentency at birth, Infant mortality, Access to improved sanitation, Mean year of schooling, Female literacy rate, Male literacy rate, 2010,2011; Graphic courtesy: The Times of India, March 2, 2016

Income inequalities in India with respect to taxpayers; Graphic courtesy: The Times of India, March 1, 2016

The Indian economy vis-à-vis the Chinese economy in terms of GDP; Graphic courtesy: The Times of India, March 1, 2016

The Indian economy vis-à-vis the Chinese economy; Graphic courtesy: The Times of India, March 1, 2016

“With renewed forecast of more than normal monsoon this year, the situation in agriculture is expected to improve significantly , which will eventually lead to revival of consumption demand, especially in rural areas,“ said Madan Sabnavis, chief economist at Care Ratings.

“This in turn should also boost investment sentiment and keep food inflation under control. Also implementation of various government schemes and 7th Pay Commission will have an important bearing. With continued strong performance of the service sector, GDP growth in FY17 should see strong contributions from each sector of the economy . We expect GDP growth in FY17 to be around 7.8%,“ he said.

But the numbers also showed some weak spots such as sluggish investment growth.

“Private consumption has emerged as the bulwark of economy in 2015-16, whereas investment growth has slowed.With excess capacity and high leverage, private consumption demand will have to rise further to pare excess capacity and encourage private investment. With normal monsoon, a mild kick to public sector wages and improved transmission of interest rates, private consumption demand is set to get a boost in 2016-17,“ said D K Joshi, chief economist at Crisil.

[edit] 2014-16: Economic indicators

See graphic

Economy, GDP growth, fiscal deficit, industrial growth, inflation and growth in agriculture, forestry and fishing, 2014-17

GDP growth, fiscal deficit, industrial growth, inflation and growth in agriculture, forestry and fishing, 2014-17; Graphic courtesy: The Hindu Business Line, Feb 1, 2017

[edit] Facts about Indian economy

[edit] 2015-16

[The Economic Survey: 2016-17]

Indians on The Move

Annual new migrants (in millions), 2011-16, year-wise; [The Economic Survey: 2016-17]

New estimates based on railway passenger traf c data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests.

Biases in Perception

China’s credit rating was upgraded from A+ to AA- in December 2010 while India’s has re- mained unchanged at BBB-. From 2009 to 2015, China’s credit-to-GDP soared from about 142 percent to 205 percent and its growth decelerated. The contrast with India’s indicators is striking.

New Evidence on Weak Targeting of Social Programs

Welfare spending in India suffers from misallocation: as the pair of charts show, the districts with the most poor (in red on the left) are the ones that suffer from the greatest shortfall of funds (in red on the right) in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.

Political Democracy but Fiscal Democracy?

India has 7 taxpayers for every 100 voters ranking us 13th amongst 18 of our democratic G-20 peers.

India's Distinctive Demographic Dividend

India’s share of working age to non-working age population will peak later and at a lower level than that for other countries but last longer. The peak of the growth boost due to the demographic dividend is fast approaching, with peninsular states peaking soon and the hinterland states peaking much later.

India Trades More Than China and a Lot Within Itself

As of 2011, India’s openness - measured as the ratio of trade in goods and services to GDP has far overtaken China’s, a country famed for using trade as an engine of growth. India’s internal trade to GDP is also comparable to that of other large countries and very different from the caricature of a barrier-riddled economy.

Divergence within India, Big Time

Spatial dispersion in income is still rising in India in the last decade (2004-14), unlike the rest of the world and even China. That is, despite more porous borders within India than between countries internationally, the forces of “convergence” have been elusive.

Property Tax Potential Unexploited

Evidence from satellite data indicates that Bengaluru and Jaipur collect only between 5% to 20% of their potential property taxes.

[edit] 2015-16: economy grew 7.9%

Eco grew 7.9% in '15-16, faster than estimated 7.6%, Feb 01 2017: The Times of India

GDP growth, 2012-17 and fiscal deficit, 2013-17; Eco grew 7.9% in '15-16, faster than estimated 7.6%, Feb 01 2017: The Times of India

The Central Statistics Office (CSO) said the economy grew by 7.9% in 2015-16, a shade faster than previously estimated 7.6%, on account of better perfor mance by the farm and industrial sectors. CSO, however, left the figure for 2014-15 unchanged at 7.2%.

The revised growth rate would be the fastest pace of expansion for the economy in five years as data for the new series introduced in 2011-12 is available now. It would give the government ammunition to counter the Opposition's charge that the NDA's handling of the economy has slowed down the growth rate.

CSO had said that the economy was estimated to grow 7.1% during the current financial year but did not factor in the impact of demonetisation. The Economic Survey , released on Tuesday , however, indicated that the growth rate could slip to 6.5% due to the cash squeeze.

Higher growth rate would push up the base and could result in a further slowdown during the current finnacial year. It would, however, help the government show a better fiscal performance since the base has expanded.

Separate data showed the fiscal deficit up to December-end has touched 94% of the full year estimate of Rs 5.3 lakh crore.Fiscal deficit during April-December 2015 was estimated at 88% of the budget estimate.

[edit] …vs. 2008-18 (GDP), 2018 (inflation), 2013-18 (deficit)

The Indian economy in 2019-20 vis-à-vis 2008-18 (GDP growth), 2018 (inflation) and 2013-18 (fiscal deficit).
From: February 1, 2020: The Times of India

See graphic:

The Indian economy in 2019-20 vis-à-vis 2008-18 (GDP growth), 2018 (inflation) and 2013-18 (fiscal deficit).

[edit] The economy as in 2017

The Times of India, January 31, 2017

For the first time, along with a host of numbers and dry facts, the Economic Survey presented today also highlighted seven curious things about India, ranging from a perception bias against it to a fiscal disparity within it.

1. Indians on the move

New estimates based on railway passenger traffic data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests.

2. Biases in perception

China's credit rating was upgraded from A+ to AA- in December 2010 while India's has remained unchanged at BBB-. From 2009 to 2015, China's credit-to-GDP soared from about 142 percent to 205 percent and its growth decelerated. The contrast with India's indicators is striking.

3. New evidence on weak targeting of social programs

The Survey says that welfare spending in India suffers from misallocation. Districts with the most poor are the ones that suffer from the greatest shortfall of funds in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.

4. Narrow tax base

India has seven taxpayers for every 100 voters, ranking us 13th amongst 18 of our democratic G-20 peers.

5. India trades more than China

As of 2011, India's openness - measured as the ratio of trade in goods and services to GDP - has far overtaken China's. India's internal trade is also comparable to that of other large countries.

6. India's distinctive demographic dividend

There will a steady rise in India's working age population. While it will be slower compared to other countries, it is expected to last for much longer. Peninsular states are fast approaching the peak of the growth boost due to the demographic dividend.

7. Income divergence within India

During the last decade (2004-14), spatial dispersion in income has been on the rise in India, unlike the rest of the world and even China. Despite more porous borders within India than between countries internationally, the geographical graph of per capita income is skewed.

[edit] 2012-18: impact of GST on manufacturing

2012-18: The impact of GST on manufacturing
From: September 3, 2018: The Times of India

See graphic:

2012-18- The impact of GST on manufacturing

[edit] Economic indicators: 2012-14 vs. 2014-17

See graphics:

1. GDP growth, 2011-17, year-wise and % annual rise in per capita income at current prices, 2012-17, year-wise

2. Inflation dynamics, 2011-17, year-wise and merchandise exports, 2011-17, FDI inflows, 2013-17, Industrial production, 2012-17, year-wise

3. Fiscal deficit, 2011-17, total tax revenue, 2012-17, fluctuations in stock market (BSE), 2011-17, year-wise

GDP growth, 2011-17, year-wise and % annual rise in per capita income at current prices, 2012-17, year-wise; The Times of India, May 26, 2017

Inflation dynamics, 2011-17, year-wise and merchandise exports, 2011-17, FDI inflows, 2013-17, Industrial production, 2012-17, year-wise; The Times of India, May 26, 2017

Fiscal deficit, 2011-17, total tax revenue, 2012-17, fluctuations in stock market (BSE), 2011-17, year-wise; The Times of India, May 26, 2017

[edit] Indicators 2013-18 (inflation, monsoons, crude prices)

i) Inflation in India (CPI): 2013-18;
ii) Performance of monsoons, 2008-17;
iii) Value of rupee, Jan- June, 2018;
iv) Crude oil prices, 2013-18
From: June 8, 2018: The Times of India

See graphic:

i) Inflation in India (CPI): 2013-18;
ii) Performance of monsoons, 2008-17;
iii) Value of rupee, Jan- June, 2018;
iv) Crude oil prices, 2013-18

[edit] 2014, May- 2018, May

Four years of Modi government an economic report card
From: May 26, 2018: The Times of India

See graphic:

Four years of Modi government an economic report card

[edit] 2014, May- 2019 Jan

[edit] For individual Indians

2014, May- 2019 Jan- an economic report card for individual Indians-
i) Income;
ii) Spending
From: February 2, 2019: The Times of India

2014, May- 2019 Jan- an economic report card for individual Indians-
iii) Investment;
iv) Wealth from stock market
From: February 2, 2019: The Times of India

2014, May- 2019 Jan- an economic report card for individual Indians-
v) Falling inflation;
vi) A connected life and
vii) healthier and more literate
From: February 2, 2019: The Times of India

See graphics:

2014, May- 2019 Jan- an economic report card for individual Indians-
i) Income;
ii)Spending

2014, May- 2019 Jan- an economic report card for individual Indians-
iii) Investment;
iv) Wealth from stock market

2014, May- 2019 Jan- an economic report card for individual Indians-
v) Falling inflation;
vi) A connected life and
vii) healthier and more literate

[edit] For the country as a whole

2014, May- 2019 Jan: an economic report card for the country as a whole
From: February 2, 2019: The Times of India

See graphic:

2014, May- 2019 Jan: an economic report card for the country as a whole

[edit] Oct 2016- Jan 2018: industry, manufacturing, inflation

Oct 2016- Jan 2018: industrial output, manufacturing, and retail inflation in India
From: Retail prices ease, factory output beats expectations, February 13, 2018: The Times of India

Retail prices ease, factory output beats expectations, February 13, 2018: The Times of India

Retail inflation cooled in January on the back of slowing food prices, while industrial output growth in December was better than expected, thanks to robust manufacturing and capital goods sectors.

Data released by the Central Statistics Office (CSO) on Monday showed inflation, as measured by the consumer price index (CPI), rose an annual 5.1% in January, slower than previous month’s 5.2%. Consumer food prices also cooled and increased 4.7%, lower than near 5% increase in December. Housing prices remained firm, and surged 8.3% during the month.

Earlier this month, RBI kept interest rates unchanged and flagged risks to inflation from several factors, including the government missing the fiscal deficit target for 2017-18. Economist said inflation in non-food items continues to be worrisome, with clothing and footwear

(4.7%), housing (8.3%), fuel

(7.7%) household goods

(4.9%), all being high.

“However, elevated fuel prices and the base effect will keep CPI inflation in the vicinity of 5% for the rest of the year till March,” said Madan Sabnavis, chief economist at Care Ratings, adding that cooling food prices will have a calming effect on retail inflation.

Separate data released by the CSO showed industrial output growth rose 7.1% in December, slower than previous month’s upwardly revised 8.4% but still higher than market expectations. The manufacturing sector rose an annual 8.4% in December, compared to 0.6% in same month last year.

Several data sets in the past few months have pointed to a revival in the manufacturing sector as it shrugs off the impact of demonetization and rollout issues linked to the GST. Economist said the robust trend in factory output augured well for overall growth.

“Higher growth in vehicles and transport bodes well for the economy. We expect IIP growth to trend higher in January also as commercial vehicle sales have expanded by 36.6%. The positive contribution of cement, diesel and even two wheelers augurs well for economic recovery, especially for rural economy,” said Soumya Kanti Ghosh, group chief economic adviser at SBI.

[edit] 2016 Nov-2018 Dec

View within RBI: Rate cut needed now, inflationary fear not a worry, February 9, 2019: The Times of India

The RBI’s real-time analysis (in Feb 2019) of inflation, consumer confidence, capacity utilisation and employment, 2016 Nov-2018 Dec
From: View within RBI: Rate cut needed now, inflationary fear not a worry, February 9, 2019: The Times of India

The Monetary Policy Committee (MPC) headed by RBI governor Shaktikanta Das has opted to pare key policy rates based on real-time analysis, leaning on findings of its surveys, prevailing market conditions and extensive consultations with stakeholders, instead of postponing a decision for fear of inflationary pressures flaring up.

Although Urjit Patel had not explicitly changed the monetary policy stance in his last policy announcement in December, the assessment was that the governor, who resigned later in the month, was dovish in his stance. Besides, the RBI’s inflation modelling has been under scrutiny for the last 18 months and critics have faulted the central bank for misreading the inflation situation.

While deputy governor Viral Acharya acknowledged the problems, he said the RBI has sought to fix them. “We started a little bit of grassroots work. We are talking to agri specialists, agri economists in the country to get a better sense. So, hopefully, we’ll get better with time. Not to mention we have had extensive consultations with a lot of experts over the last two months or so, and the effort is to fine tune the system as much as possible.”

Apart from retail inflation, which was estimated at 2.2%, the RBI’s internal survey showed that inflationary expectations were well-anchored. Although oil price pressure has remained for the last few months, agriculture economists reckon that food inflation will remain benign, especially in the wake of a good winter. In fact, Das pointed to higher wheat yield this year due to favourable weather conditions.

The other positive that weighed on the MPC was an improvement in consumer confidence as well as business confidence, amid an improvement in capacity utilisation by industry. In fact, there are pockets in the manufacturing space where capacity constraints have started to emerge and a lower interest rate is expected to help provide a boost to investment and bridge this gap in the coming months. With buyer sentiment improving, demand in several other sectors is expected to rise.

The consumer confidence survey suggests that respondents expect an improvement on almost all counts. The only exception is income, where the sentiment seemed to sour a little in December, compared to the previous month. But, they are upbeat on investment, employment and income a year down the line.

Similarly, on business expectations, more respondents now believe that there will be an improvement across the board — from production, to order book and capacity utilisation — with selling price and employment being two parameters on which they were less upbeat than the previous survey.

[edit] 2017 Q4> 2019 Q1: growth

August 1, 2019: The Times of India

In trade war, India only Asian nation growing export share

NEW DELHI: The only major Asian economy that’s grown its export share since the start of the tariff wars in 2018 is the one with the fewest trade links to China.

India’s share of world exports rose to 1.71% in the first quarter of 2019 from 1.58% in the fourth quarter of 2017, data compiled by Bloomberg show. The share of every other economy among Asia’s 10 biggest exporting nations fell in the same period. Part of the reason for India’s outperformance is that it’s not as integrated into global manufacturing supply chains as peers, which means exporters are cushioned from rising trade tensions in the region.

It’s a sentiment that was flagged by Reserve Bank of India (RBI) governor Shaktikanta Das in a recent interview.

“India is not part of the global value chain,” he said. “So, US-China trade tension does not impact India as much as several other economies.”

China is the biggest buyer of goods from South Korea and Japan, whose share of world exports have fallen the most in Asia. For India, China is the third-largest market, after the US and the UAE.

“Our biggest advantage is that our product basket and market basket are both quite diversified,” said Rakesh Mohan Joshi, a professor at the Indian Institute of Foreign Trade in Delhi.

Trade tensions between the US and China have given India an opportunity to ramp up exports to both countries, according to Ajay Sahai, director general and chief executive officer of the Federation of Indian Export Organisations.

India’s exports to the US grew at the fastest pace in six years in the year ended March 2018, while exports to China surged 31%, the second highest annual pace of growth in more than a decade, data from ministry of commerce show.

“China is more willing to give market access to India than ever before,” said Sahai, pointing to increased access for products such as rice, fruits and vegetables, with potential for greater exports of pharmaceuticals and automobile components to China.

On the other hand, India’s exports to the US could lose momentum. US President Donald Trump has criticised India for its tariffs on US products, and withdrew trade concessions on $6.3 billion of Indian goods on June 1. India responded with higher tariffs on about 30 American products.

India’s relative immunity from trade tensions could be coming to an end. Exports plunged 9.7% in June from a year ago, the biggest decline in more than three years.

[edit] 2017-18: rural demand slumps to lowest since 1973

Nov 15, 2019: NDTV

Rural Consumer Demand Slumps To 4-Decade Low: Report

Consumer spending in the country's rural areas has plummeted to a four-decade low, a leading business daily reported, bringing more bad news for Prime Minister Narendra Modi's government that is struggling to revive a stuttering economy.

Consumer demand in villages fell 8.8 per cent between July 2017 and June 2018 - the sharpest 12-month drop since 1972-73, the Business Standard reported, using unpublished data recorded by the National Statistical Office (NSO).

Two-thirds of the 130 crore population live in rural areas, making it a key economic driver. But spending on food, education and clothing declined, with demand for essential items such as cereals plunging 20 per cent, the newspaper said.

The report should have been released in June, but was pushed back because of its "adverse" findings, Business Standard said citing sources familiar with the matter.

A government official told AFP the report was not finished.

"The NSO report is still under processing and not validated, and many officials are not privy to the data," said AK Mishra of the ministry of statistics.

The data "can only be confirmed once the ministry publishes the report", Mr Mishra added.

If the findings are confirmed, it would ring yet another alarm bell over Asia's third-largest economy, which has endured five consecutive quarters of slowing growth.

In January, Business Standard reported that unemployment had surged to a four-decade high during PM Modi's first term in power, citing unpublished data from the ministry.

The delay in releasing the jobs report prompted a top government statistician to quit in protest. The report confirming the joblessness data was finally released in May, after PM Modi was re-elected with a thumping majority.

Congress leader Rahul Gandhi attacked the government over the new report, accusing it of trying to bury unflattering data. "Modinomics stinks so bad, the government has to hide its own reports," he tweeted. To counter the fall in demand for everything from cars to cookies, the central bank has trimmed interest rates five times in a row, but to little effect.

Experts say India's economy has never recovered from PM Modi's surprise cash ban in 2016, which made 86 percent of the currency in circulation void.

The rollout of a nationwide Goods and Services Tax (GST) in July 2017 added to the crisis as businesses struggled to adjust to the new rules, say experts.

16 Comments In October, market researcher Nielsen said rural consumption had slumped to a seven-year low, highlighting falling income for farmers who are struggling with mounting debt.

[edit] Govt does not release consumer expenditure survey, 2017-18

Nov 15, 2019: The Times of India

NEW DELHI: The government said that it would not release the Consumer Expenditure Survey results of 2017-18 because of "data quality issues".

The Ministry of Statistics and Programme Implementation junked a media report citing a fall in consumption expenditure for the first time in more than four decades, saying that the ministry follows a rigorous "data vetting" process before releasing such reports.

"All such submissions which come to the Ministry are draft in nature and cannot be deemed to be the final report," it said in a statement.

The release said that results of the survey were examined and it was noted that there was a significant increase in the divergence in not only the levels in the consumption pattern but also the direction of the change when compared to the other administrative data sources like the actual production of goods and services.

"Concerns were also raised about the ability/sensitivity of the survey instrument to capture consumption of social services by households especially on health and education," it said.

The National Satistical Office has referred the matter to a committee of experts which noted the discrepancies and came out with several recommendations including refinement in the survey methodology and improving the data quality aspects on a concurrent basis.

"The recommendations of the committee are being examined for implementation in future surveys," the release said.

The NSS Consumer Expenditure Survey generates estimates of household monthly per capita consumer expenditure (MPCE) and the distribution of households and persons over the MPCE classes.

It said the Ministry is separately examining the feasibility of conducting the next Consumer Expenditure Survey in 2020-2021 and 2021-22 after incorporating all data quality refinements in the survey process.

The Consumer Expenditure Survey (CES) is usually conducted at quinquennial intervals and the last survey on consumer expenditure was conducted in the 68th round (July 2011 to June 2012).

It is designed to collect information regarding expenditure on the consumption of goods and services (food and non-food) consumed by households. The results, after release, are also used for rebasing of the GDP and other macro-economic indicators.

Congress slams government

Senior Congress leader Jairam Naresh lashed out at the government for not releasing the report.

Congress spokesperson Pawan Khera said at a press conference here that leaked report shows that the person who spent Rs 1501 in a month in 2011-12 was spending Rs 1446 in 2017-18.

He said the fall in spending was 8.8 per cent in rural India. "This is a serious issue. Rural India was spending Rs 643 in a month in 2011-12, it is spending Rs 580 in 2017-18," he alleged.

Khera said that a committee of statistics department had cleared the data to be released in June this year but the "government did not allow it".

Congress leaders Rahul Gandhi and Priyanka Gandhi Vadra also targeted the government on the issue.

Priyanka Gandhi alleged in tweets that consumer spending has collapsed.

"Successive govts have striven tirelessly to combat poverty and empower the people. This govt is making history by driving people into poverty: while rural India faces the dire consequences of their policies, the BJP ensures that their corporate friends become richer by the day. Usually, governments work towards eradicating poverty, not towards eliminating data," she said.

Earlier today, Rahul Gandhi had tweeted — "Modinomics stinks so bad, the government has to hide its own reports.”

[edit] 2018 Aug vs. June: mixed trends

The growth of the Indian economy, June, July, Aug 2018: Passenger vehicles, Commercial vehicles, CIL output, Non-oil export
From: October 1, 2018: The Times of India

The growth of the Indian economy, June, July, Aug 2018: Rail freight, Airlines, Petrol, Bank deposits, Non-food bank credit
From: October 1, 2018: The Times of India

See graphics:

The growth of the Indian economy, June, July, Aug 2018: Passenger vehicles, Commercial vehicles, CIL output, Non-oil export

The growth of the Indian economy, June, July, Aug 2018: Rail freight, Airlines, Petrol, Bank deposits, Non-food bank credit

[edit] 2018 to 19: growth declines

August 2, 2019: The Times of India

2018 to 19: Five reasons why the economy slowed down
From: August 2, 2019: The Times of India

See graphic:

2018 to 19: Five reasons why the economy slowed down

[edit] 2018-19: The main trends

Rupali Mukherjee, August 30, 2019: The Times of India

Real estate is the most preferred investment asset class for high net-worth individuals (HNIs) in next 3 years, followed by stock markets, according to the Hurun Indian Luxury Consumer Survey. This is despite the slowdown in real estate witnessed over the last three years, and turbulence in stock markets over the past 18 months. This is the first year of an India survey by Hurun Research Institute, which aims to track changes and preferences of lifestyle, consumption habits and brand cognition of HNIs.

Around 31% respondents believe that their investment allocation towards real estate sector will grow in the next two years. In line with IMF’s prediction of economic growth, equity markets followed by fixed income is the second and third choice, respectively. Interestingly, 21% respondents want to reduce allocation to real estate in the short term, and around 20% want to reduce exposure to gold. While 9.5% said investments into real estate will be at a status quo, the remainder believed that it would decline.

The UK is the most popular investment destination for HNIs. Singapore takes second place, and Canada along with the US, which is forecast to grow 2-4% (at constant exchange rates this year), rank third. Nearly a fourth (24%) are “very confident” about the Indian economy over the next three years, 40% “confident”, while around 36% are pessimistic. As many as 36% of HNIs said their investment philosophy for this year would be “avoiding risk”, while only 14% will make “active investments”.

Among collectibles, HNIs prefer to spend the most on art and jewellery. Nearly half the respondents have two to three cars, 37% have only one car and 6% have more than five cars. Up to 46% of them renew their car every three to four years.

[edit] How serious is India’s economic slowdown?

August 29, 2019: The Times of India

2008-2019: Periods of economic slowdown
From: August 29, 2019: The Times of India

How serious is India’s economic slowdown?

NEW DELHI: According to global broking firm Goldman Sachs, as of June 2019, the current slowdown has lasted for 18 months, making it is the longest since 2006.

More than half of the decline in economic activity has been driven by a consumption slowdown, which appears to be broad-based, with components other than auto contributing more than twice the effect of autos to the total consumption decline, says the brokerage in a report.

Is it exaggerated?

A State Bank of India (SBI) report says that while stagnant rural wage growth reinforces the slowdown, other factors may be at play in specific sectors. Auto sector slowdown, for instance, may be part of the unfolding global crisis as auto sales in Asia-Pacific too are expected to fall.

Similarly, low FMCG volume growth in the last quarter may be due to the unusually high growth in the previous one and also because of a shift in consumer preferences towards healthier (for biscuits and snacks) or natural (beauty products) options, bigger packets (due to e-retailing) or good quality products of unlisted companies.

However, the SBI report also says that out of the 33 indicators it tracks, the number of those accelerating has fallen from 17 in March to 9 in June. The principal economic advisor to the government says "the slowdown does not mean economic crisis" and it is "not as bad as the 2008 Lehman crisis."

When will it end?

Goldman Sachs expects a moderate pick-up in economic activity by March next year if there is a "substantial improvement in consumer confidence over the course of the year, and a significant easing in domestic financial conditions."

The chief of another broking house, however, thinks that a global recession may start "by the end of 2020 or early 2021" and if that happens Indian economy will suffer too.

India Ratings, a Fitch group company, said on Wednesday that it expects GDP growth for 2019-20 to tumble to a six-year low at 6.7% instead of 7.3% it had said earlier because band-aid measures will not help the economy in the long term.

[edit] June 2017> June 2019

The Indian economy, June 2017> June 2019
From: Sep 21, 2019: The Times of India

See graphic:

The Indian economy, June 2017> June 2019

[edit] 2018-20

[edit] GVA growth 2019-20 vis-à-vis 2018-19

GVA growth 2019-20 vis-à-vis 2018-19
From: TNN, January 8, 2020: The Times of India

See graphic:

GVA growth 2019-20 vis-à-vis 2018-19

[edit] 2019: Ports, railway freight slow down

The slowdown in freight handled by ports, railways.
From: Nov 16, 2019: The Times of India

See graphic:

The slowdown in freight handled by ports, railways.

[edit] Carbon footprint

[edit] 2020: an all- India survey

Shobita Dhar, January 30, 2021: The Times of India

Getting people out of poverty will not lead to higher carbon emissions. Countering popular wisdom, a study has found that whether one goes by household expenditure or by socio-religious profile, it is the carbon burden of the wealthy that needs to be addressed first.

In a survey of 623 of the country’s 741 districts, covering over 2 lakh households, by researchers at Japan’s Research Institute for Humanity and Nature, Gurgaon emerged as the one with the highest carbon footprint — over 2 ton CO2/capita. That’s 10 times higher than the district with the smallest footprint in the study, Boudh in Odisha (0.21 ton CO2/capita), four times the national average (0.56 ton CO2/capita) and double that of Delhi (0.98 ton CO2/capita), the study, published in Elsevier journal ‘Global Environment Change’ this month, said.

“We wanted to find out if differences in standards of living or religions affect carbon emissions. Another objective was to estimate how much poverty alleviation contributes to increased carbon emissions,” lead author Lee Jemyung told TOI. “India’s results highlight the need to differentiate individual responsibilities for climate change in national and global climate policy.”

High expenditure households (who live on more than $4.93 a day) in India are responsible for nearly seven times higher carbon emissions than low expenditure households (living on $1.9 a day or less). “First, variations in individual expenditure result in different levels of absolute consumption and associated carbon emissions. Second, the profile of individual consumption activities also varies according to expenditure levels,” the study said.

[edit] Agriculture’s share in India’s economy

[edit] 1950-2011

June 6, 2019: The Times of India

Share of agriculture in Gross Value Added at constant prices , 1950-2011
From: June 6, 2019: The Times of India

Indian Economy No More A Bet On Monsoon As Farming’s Role Shrinks

For years, India’s economy leaned heavily on agriculture, so a poor monsoon could rattle it. But agriculture’s share in the gross value addition (GVA) — value of goods and services minus input costs — to the economy has been steadily falling. It stood at 55% at the start of the first five-year plan in 1950-51, but dropped below 50% by 1961-62. Today, agriculture contributes less than a fifth of India’s GVA

[edit] Balance of payment/ current account deficit

[edit] 2016-2017

Deficit widens due to lower remittances, March 24, 2017: The Times of India

Remittances from overseas Indians has been dropping continuously for the last five quarters, contributing to the widening of current account deficit (CAD). The trade gap has also widened due to lower software exports.

Balance of payment data released, shows that net personal transfers -which are largely remittances by Indians employed overseas--fell to $13.6 billion during the demonetisation quarter from $14.9 billion, a drop of 9.7%.

According to numbers released by the RBI, the current account deficit widened to $ 7.9 billion (or 1.4% of GDP) in Q3FY17 as compared to $ 7.1 billion (1.4% of GDP) in Q3FY16 and $ 3.4 billion in (0.6% of GDP) in Q2FY17. The CAD is the difference between income from exports and imports, plus the difference from between outbound and inbound investment income.

A statement issued by the Central bank said that the CAD widened despite a slightly lower trade deficit year-on-year, primarily on account of a decline in net invisibles receipts. Invisible includes remittances from software, services and money sent by Indians working oversea. Net services receipts moderated compared to Q3FY16, due to a fall in earnings from software, finan cial services and charges for intellectual property rights.

From April to December, however, the deficit halved to 0.7%, from 1.4% a year ago.

This was primarily because of fall in earnings from software, financial services and charges for intellectual property rights.

Earnings from software exports have been declining year-on-year, but the third quarter has seen a sequential increase in software exports over the second quarter.

The net foreign direct investment of $9.8 billion during the reporting quarter was marginally lower than last year. The RBI said that there was a net outflow of portfolio investment of about $11.3 billion during the period in both equity and debt segments, as against a net inflow of $0.6 billion in the year-ago period. During the current fiscal, net FDI rose 12.3% to $30.6 billion as compared to April-December 2016.

[edit] Governments and economic growth

[edit] 1947-2018: India has performed better under ‘weak’ governments

Sadanand Dhume | In economic terms, India has performed better under so-called weak governments |17 Nov 2018|The Times of India

According to the World Poverty Clock, an online database… About 41 Indians escape extreme poverty every minute.

India’s achievement is creditable by any yardstick. But it occurs against a backdrop of rising prosperity worldwide.

A political paradox of sorts has accompanied India’s upward economic arc. For the first four decades of independence, single-party majority governments delivered anaemic growth. India’s most dramatic assault on poverty has come in the coalition era that followed Rajiv Gandhi’s defeat in the 1989 general election.

Between 1950 and 1980, India’s economy expanded at an annualised average of 3.6%. Per capita income grew at a sluggish 1.5% per year. These figures ticked upward in the 1980s, but the real breakthrough only came after India embraced liberalisation and globalisation in 1991. Since then per capita income has grown on average by 4.9%. Since 2004, it has grown even faster – by over 6.1% annually. In this period, India has lifted more than 350 million people out of extreme poverty.

Why did weak governments deliver better results than strong ones? The simple answer: in India, the era of single-party majorities coincided with the heyday of state planning. After Independence, instead of embracing a market economy, where supply and demand determine production, India scurried down the rabbit hole of socialism where pointy-headed bureaucrats and their political masters called the shots.

Under both Jawaharlal Nehru and Indira Gandhi the government raised trade barriers, nationalised private enterprises, raised extortionate taxes on the rich, and told companies how to run their business. Had they instead used their power to build infrastructure, strengthen rule of law, encourage private enterprise and educate the masses, India need not have waited this long to nearly wipe out poverty.

But as four years of Modi have shown, a strong government’s tendency to overreach remains a recurring national problem.

Only a strong government could have come up with a cockamamie idea like demonetisation, deemed too crazy to try even by a basket case economy like Venezuela. In a less dramatic – but nonetheless destructive – vein the Modi government has armed tax inspectors with extortionate powers, escalating the tax terrorism the Bharatiya Janata Party (rightly) protested when in opposition.

On trade, tariff-loving bureaucrats have prevailed over liberalisers. And while an elegant simplicity marks a goods and services tax in most countries that have adopted it, in India it’s a hot mess designed to privilege discretion over clarity.

The writer is a resident fellow at American Enterprise Institute in Washington, DC.

[edit] Governments and economic policy

[edit] Policy uncertainty, 2004-19

July 5, 2019: The Times of India

Correlation of EPU index with macroeconomic vulnerability, 2004-19
From: July 5, 2019: The Times of India

If there is one thing that businesses dread, it’s policy uncertainty and lack of predictability. And, the government also recognised this and suggested that an increase in economic policy uncertainty dampens investment growth for at least five quarters.

The Economic Policy Uncertainty (EPU) Index — prepared using certain keywords appearing in newspapers — shows that policy uncertainty in India that had peaked around April 2012 is now much lower. The Economic Survey seems to draw comfort from the fact that EPU in India is now decoupled from global uncertainty, a trend that began in 2015.

“Uncertainty seems to have stabilised at lower levels in case of India since last few years, which is noteworthy given the recent surge in global uncertainty, partly due to rising trade tensions between US and China, uncertainty about outcome of Brexit, slower world growth,” the annual economic report card tabled in Parliament said. In 2018, for instance, the global uncertainty index zoomed from 112 to 341, while it remained under 100 in India.

The survey suggested that lower uncertainty has started to show an improvement in the investment rate. Gross fixed capital formation is also showing an upward trend from April-June 2017-18 until around the first half of the last financial year.

At the same time, it recognised that uncertainty is not the only factor impacting investment decisions, with interest rates, borrowing cost, price rise and capacity utilisation being the other parameters. While the going may be better compared to the past, frequent policy changes and trust deficit are major concerns for businesses even now. To address this the survey has outlined several steps, including providing a forward guidance, apart from reducing ambiguity and arbitrariness in policy implementation.

“To ensure predictability, the horizon over which policies will not be changed must be mandatorily specified so that investor can be provided the assurance about future policy certainty. While this will generate some constraints in policy-making, such voluntary tying of policymakers’ hands is undertaken in several cases, including the Fiscal Responsibility and Budget Management Act, the Monetary Policy Framework of the Reserve Bank of India.”

The survey also proposed sub-indices of EPU to capture economic policy uncertainty stemming from fiscal policy, tax policy, monetary policy, trade policy, and banking policy, while suggesting monitoring at the “highest level”.

Although several government departments have in past got quality certifications, the survey made a case afresh, arguing that it will not just train officers and other employees but also ensure that policies are properly implemented at lower levels.

[edit] India's economy vis-à-vis the world

See Gross domestic product (GDP): India

Economy, India: international comparisons

[edit] Nature, dependence on

[edit] 2017

January 24, 2020: The Times of India

The dependence on Mother Nature of the economies of India, Africa, China, EU, Indonesia, Japan, Latin America, the Middle East and the USA, presumably as in 2017.
From: January 24, 2020: The Times of India

The sectors majorly dependent on nature, 2020
From: January 24, 2020: The Times of India

Most big economies have big exposure to nature
From: January 24, 2020: The Times of India

Economic growth and environmental sustainability can often appear framed as either/or phenomena, that is, as mutually exclusive, suggesting that the creation of prosperity has to come at the cost of ecological degradation. But a report by World Economic Forum suggests that it is businesses themselves that have far greater exposure to climate change than is immediately apparent as more than half of the global GDP coming from economic activities is dependent on nature. That means most businesses everywhere should worry more about supporting the response to climate change — to protect their profits and the planet.

$44 trillion — That's how much ecology means to global economy The WEF report says “all businesses depend on natural capital assets and ecosystem services either directly or through their supply chains”. It further adds that $44 trillion of economic value generation — more than half of the world’s total GDP of about $86 trillion — is moderately or highly dependent on nature and, hence, also exposed to risks from nature loss.

But even industries not so heavily reliant on nature have big exposure to it. Thus, chemicals and materials; aviation, travel and tourism; real estate; mining and metals; supply chain and transport retail; and consumer goods and lifestyle sectors — with less than 15% of their direct value highly dependent on nature — still have “hidden dependencies” through their supply chains.

Economies especially vulnerable to climate change are some of the fastest-growing economies in the world. A third of India, and Indonesia’s, GDP is “generated in sectors that are highly dependent on nature”. For all of Africa taken together, 23% of the combined GDP comes from such sectors The larger economies have the highest absolute amounts of GDP in nature-dependent sectors.

Coffee, a case in point of how businesses depend on nature…

While WEF notes that “nature is often hidden or incorrectly priced in supply chains”, it admits that “confusion persists on what amount of nature loss has occurred, why it relates to human prosperity...” The example of coffee gives an idea: 60% of coffee varieties are in danger of extinction due to climate change, disease and deforestation. If this were to happen, global coffee markets — with retail sales of $83 billion in 2017 — would be significantly affected.

...And staple crops show why sustainability is key

More than half of the world’s food comes from just three staples — rice, wheat and maize. But while agricultural crop diversification can improve resilience to pest and disease outbreaks, monocultures, encouraged mainly by economic incentives, are still the dominant form of industrial agriculture.

[edit] Macro-indicators

[edit] During global crises

[edit] 2008-22

India’s Macro-indicators During global crises, 2008-22
From: February 1, 2022: The Times of India

See graphic:

India’s Macro-indicators During global crises, 2008-22

[edit] Public vis-à-vis private sector

[edit] Market share: 2020

Public vis-à-vis private sector: Market share in 2020
From: February 3, 2021: The Times of India

See graphic:

Public vis-à-vis private sector: Market share in 2020

[edit] Purchasing power of individuals/ Affordability of things

[edit] 1991> 2019

1991> 2019: The growth in the purchasing power of individuals/ The affordability of things
From: July 6, 2019: The Times of India

See graphic, '1991> 2019: The growth in the purchasing power of individuals/ The affordability of things '

[edit] Part B

1991> 2019: The growth in the purchasing power of individuals/ The affordability of things
From: February 3, 2021: The Times of India

See graphic:

1991> 2019: The growth in the purchasing power of individuals/ The affordability of things

[edit] Three levers of economy (inflation, deficit, GDP growth)

[edit] 1970-2020

The Three levers of the Indian economy (inflation, deficit, GDP growth), 1970-2020
From: February 2, 2022: The Times of India

See graphic:

The Three levers of the Indian economy (inflation, deficit, GDP growth), 1970-2020

[edit] 2016 : Demonetisation

Please see:

Demonetisation of high value currency- 1946, 1978: India

Demonetisation of high value currency- 2016: India

[edit] PART II OF THIS PAGE

[edit] Capital expenditure

[edit] …by the states, 2015-19

The states’ focus areas of capital expenditure, 2015-19
From: Oct 23, 2019: The Times of India

See graphic:

The states’ focus areas of capital expenditure, 2015-19

[edit] See also

Developmental indicators: India

Economy: India 1

Economy: India 2 (Ministry data)

Economy, India: international comparisons

Gross domestic product (GDP): India

Per capita Income: India and its states

[edit] And also...

Corporate Tax: India

Direct taxes: India

Economic history: India

Gift tax: India

Goods and services tax (GST)

Income Tax India: Expert advice, 2016-17

Income Tax India: Expert advice, 2017-18

Income Tax India: Expert advice

Income Tax India: Laws

Income Tax India: NRIs

Income Tax, India: Statistics

Indirect Taxes: India

Personal Taxes: India

Property Tax: India

Service tax: India

Wealth tax: India

@@ Line 1: / Line 1: @@
+'''Several sections from this page have been shifted to '''[[Economy: India 2 (Ministry data)]]
   {| class="wikitable"
 |-
 |colspan="0"|<div style="font-size:100%">
-This article has been sourced from an authoritative, official <br/>publication.  Therefore, it has been ‘locked’ and will never be <br/> thrown open to readers to   edit or comment on.<br/>
+This is a collection of articles archived for the excellence of their content.<br/>
+Additional information may please be sent as messages to the Facebook <br/>community, [http://www.facebook.com/Indpaedia Indpaedia.com]. All information used will be gratefully <br/>acknowledged in your name.
-After the formal launch of their online archival encyclopædia, <br/> readers who wish to update or add further details can do so on <br/> a ‘Part II’ of this article.  </div>
+</div>
 |}
-[[Category:India|E]]
-[[Category:Government|E]]
-[[Category:Economy-Industry-Resources|E]]
-[[Category:Name|Alphabet]]
-==The source of this article==
-''' INDIA 2012 '''
-A REFERENCE ANNUAL
-'' Compiled by ''
-RESEARCH, REFERENCE AND TRAINING DIVISION
-PUBLICATIONS DIVISION
-MINISTRY OF INFORMATION AND BROADCASTING
+=India’s economy: the main trends=
+==A.D. 1 to 2003==
+See [[Economic history: India]]
-GOVERNMENT OF INDIA
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-=Economic Data on India: Ministry of Statistics=
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-THE Ministry of Statistics and Programme Implementation consists of two wings
+ECONOMY: INDIA 1]]
-namely:Statistics Wing and Programme Implementation Wing. The Ministry is
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-the apex body in the official statistical system of the country. It is the authority that
+ECONOMY: INDIA 1]]
-controls the Indian Statistical Service (ISS) and Subordinate Statistical Service (SSS).
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-It is also the Administrative Ministry for the Indian Statistical Institute, an
+ECONOMY: INDIA 1]]
-autonomous registered scientific society of national importance. The Ministry
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-includes, inter-alia, the Central Statistical Office (CSO) and the National Sample
+ECONOMY: INDIA 1]]
-Survey Organisation (NSSO).
-=INDIAN STATISTICAL SYSTEM (ISS)=
+==The British Era==
-India has a federal structure of Government and the Indian Statistics System
+See [[Economic history: India]]
-functions within the overall administrative set up of the country. The division of
-responsibility for administration between the Union Government and the State
-Governments is on the basis of three-fold classification of all subjects, namely, the
-Union List, the state List, and the Concurrent List. The Concurrent list represents
-the subjects where both the Union and State Governments can operate, and it
-includes the subject Statistics. Three is a further division of responsibility, by subjects
-of groups of subjects, among the different Ministries/Departments of thee Union
-Government and among the Departments of State Governments, on the basis of
-their administrative functions.
-The Indian Statistics System, therefore, may be treated as both decentralized
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-and centralized system. For example, the large-scale Statistics operations conducted
+ECONOMY: INDIA 1]]
-all over the country like Population Census, Economic Census, Agricultural Census
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-and Livestock Census, as well as nation-wide sample surveys including the Annual
+ECONOMY: INDIA 1]]
-Survey of Industries and the Socio-economic surveys is the responsibility or Central
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-agencies.
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-Similarly, compilation of national accounts, preparation of all-India Prices
+==1962-2021==
-and Industrial production indices are also Central activities. In the case of States,
+[https://epaper.timesgroup.com/article-share?article=02_02_2022_030_001_cap_TOI  February 2, 2022: ''The Times of India'']
-the State statistics. Similarly, compilation of national accounts, preparation of all-
-India Prices and Industrial production indices are also Central activities. In the case
-of States, the State statistics Organizations collect and generate data on a number
-of variables. The Central Government acts as the coordinating agency for
-presentation of statistics on an all-India basis even in fields where the State
-Directorates of Economics and Statistics (DESs) carry out the responsibility of
-coordination of all statistics activities at the State level and keeping liaison with
-the MOSPI for the purpose of maintaining uniformity and consistency in the data
-produced and consolidated different levels.
-=CENTRAL STATISTICAL OFFICE (CSO)=
+[[File: Indian economy, trends- 1962-2021.jpg|Indian economy, trends- 1962-2021 <br/> From: [https://epaper.timesgroup.com/article-share?article=02_02_2022_030_001_cap_TOI  February 2, 2022: ''The Times of India'']|frame|500px]]
-The Central Statistical Office is responsible for coordination of Statistical activities
-in the country, and evolving and maintaining statistical. Its activities mainly include
-National Income accounting; conduct of Economic Census and its follow up
-surveys, processing of data collected through Annual Survey of Industries and
-preparation of Reports, compilation of Index of Industrial Production, as well as
-Consumer price Indices, Gender Statistics, and imparting training on Official
-Statistics. CSO brings out a number of publications periodically including Statistical
-Year Book earlier known as Statistical Abstract, Monthly Statistical Abstract, and
-India in Figures-A Ready Reference, Energy Statistics, Environment Statistics
-besides disseminating statistical information to various national and international
-agencies.
-The other activities include preparation of Five Year Plan and Annual
-Plans, holding conferences with the Central and State statistical agencies, revision
-of National Industrial Classification, preparation and implementation of Strategic
-Plans to make available data on key parameters, to improve the quality and
-reliability of existing data sets, to make available new data sets on emerging fields
-to meet increasing data demands, and to reduce time lag in dissemination of data.
-=NATIONALAND PER CAPITA INCOME=
-Table 6.1 gives National and Per Capita Income at Factor Cost at current and 2004-
-prices, while table 6.2 gives the relationship of national income and other
-aggregates at current prices. Table 6.3 gives the performance of the public sector
-and table 6.4 gives private final consumption expenditure, net domestic saving and
-capital formation.
-=CATEGORIES OF WORKERS=
+Most economies shift from agriculture to services via a vigorous industrial age, but India moved up the ladder from ‘Jai Kisan’ to ‘Hello, World’ without really resting its weight on the rung of industry. Industrial output has never made up more than a third of India’s GDP while services have accounted for more than half for over a decade. Yet, this seemingly young economic proﬁle hides the fact that most Indians still live from hand to mouth, exhausting their earnings on the basic needs of food, housing and transport. And while stock markets soar, the average Indian still invests the old way in bank deposits, provident funds and life insurance
-For the 2001 census, the population was divided into main workers, marginal
-workers, and non-workers. The table 6.5 shows total workers sub-divided into main
-workers and marginal workers and distribution of total workers in four broad
-categories in rural and urban areas as on 1 March 2001. Employment in the
-organised sector has been shown in table 6.6.
-=UNEMPLOYMENT=
-The number of persons on the live register of the employment exchanges gives an
-idea of the trend of unemployment subject to certain limitations. Table 6.7 gives
-registrations, vacancies, placements and job seekers on the ‘live register’ for the
-period 1994-2008.
-=NATIONAL SAMPLE SURVEY OFFICE (NSSO)=
-Setup in 1950 and reorganized in 1970, the NSSO functions under the overall
-direction of a Steering Committee with requisite independence and autonomy in
-the matter of collection, processing and publication of NSS data. In additional to
-the non-official Chairman, the steering committee is composed of academicians,
-data users from Central and State Government departments and senior officers of
-the Ministry. The NSSO is headed by the Director General and Chief Executive
-Officer (DG & CEO), who is also the Member-Secretary of the Steering Committee.
-The National Sample Survey Organisation (NSSO) carries out socio-economic
+BUDGET RESEARCH: Atul Thakur; DESIGN: Nirmal Sharma, Chanchal Mazumder, Sunil Singh, Anil Dinod, Karthic R Iyer, Arya Praharaj, Asheeran Punjabi, Deepti Singh; ADMINISTRATIVE SUPPORT: Sanjay Kalia
-surveys, undertakes data collection for Annual Survey of Industries, sample checks
-on area enumeration and crop estimation surveys and prepares the urban frames
-useful in drawing of urban samples, besides collection of price data from rurla and
-urban sectors. The major activities of the NSSO pertan to Survey Design, Field
-Operations, Processing of NSSO data and Publication of NSSO Reports.
-The SDRD has its headquarters at Kolkata. The FOD has its headquarters at
-New Delhi with a network of 6 zonal offices located at Bangluru, Guwahati, Jaipur,
-Kolkata, Lucknow and Nagpur, 49 regional offices and 116 sub-regional offices
-spread throughout the country. The DPD with its headquarters at Kolkata, functions
-through the Data Processing Centres at Ahmedabad, Bangaluru, New Delhi, Giridh,
-Kolkata and Nagpur. The CPD located at New Delhi functions as the Secretariat of
-DG & CEO, NSSO.
-The subjects taken up under socio-economic surveys are—surveys on
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-Consumer Expenditure, Employment-Unemployment, Social Consumption (Health,
+ECONOMY: INDIA 1]]
-Education, etc.) Manufacturing Enterprises and Service Sector Enterprises in the
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-Unorganized Sector being covered once in five years, while subjects like Land and
+ECONOMY: INDIA 1]]
-Livestock Holding, Debt and Investment are covered once in 10 years. Other than
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-irregular surveys, ad-hoc surveys are also undertaken to cover special topics of
+ECONOMY: INDIA 1]]
-current interest to meet the demand of the data users. The data on Consumer
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-Expenditure and Employment - Unemployment were also collected in every round
+ECONOMY: INDIA 1]]
-from a thin sample along with the main subject of enquiry up to 64th round of NSS.
-The 62nd round of NSS (July 2005 - June 2006) was on Unorganized manufacturing
+==1975-2015==
-and usual annual survey of Household Consumer Expenditure and Employment-
+[[File: economy india.jpg|The Indian economy, 1975-2015: GDP, the rupee exchange rate, exports, fiscal deficit and inflation, [http://epaperbeta.timesofindia.com//Gallery.aspx?id=28_02_2015_017_005_003&type=P&artUrl=KEEPING-SCORE-THE-WORLD-CUPS-THE-BUDGET-28022015017005&eid=31808 ''The Times of India'']|frame|500px]]
-Unemployment. All the Five reports of this round have been brought out and are
+See graphic, 'The Indian economy, 1975-2015: GDP, the rupee exchange rate, exports, fiscal deficit and inflation'
-available to the public. NSS 63rd round (July 2006 -June 2007) survey was on
-“Services Sector Enterprises (excluding Trade) and Household Consumer
-Expenditure.
-All three reports on this survey have been released. NSS 64th round
+==1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex, FII flow==
-(July 2007 - June 2008) survey was on Participation and Expenditure in Education,
+[[File: India, 1990-2020- sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow.jpg| India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow <br/> From: [https://timesofindia.indiatimes.com/business/india-business/sensex-wealth-creation-in-seven-charts/articleshow/79810073.cms  December 19, 2020: ''The Times of India'']|frame|500px]]
-Employment-Unemployment & Migration and Household Consumer Expenditure.
-The Field work of this survey was completed in June, 2008 and all the four reports
-based on this survey have been released. NSS 65th round (July 2008-June, 2009)
-was devoted to Domestic Tourism, Housing Condition, Urban Slums and Civic
-Amenities and the field work this survey was completed in June, 2009. OUt of total
-number of 3 reports based on the survey, only one report viz. 'Some Characteristics
-of Urban Slum in India', has been released till date. The 66th round of NSS is 8th
-Quinquennial Round on Employment, Unemployment and Consumer Expenditure.
-Field work of this survey has started from July, 2009 and will continue up to June,
-. Thereafter, the field work of 67th Round of NSS devoted to Survey of Unincorporated
-non agricultural Enterprises covering Manufacturing. Trade and
-Service Sectors will start from 1st July, 2010.
-The results of the surveys are brought out in the form of NSS reports which
+'''See graphic''':
-are available for sale. The NSS reports are also available on the website of the
-Ministry for viewing/downloading free of cost. Summary of the results of these
-surveys are also published in Sarvekshana - A Bi-annual Technical Journal of the
-NSSO. Validated unit level data relating to the NSS surveys are available on CDROM
-for sale at normal price.
-The NSSO undertakes the field work of the Annual Survey of Industries (ASI)
+'' India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow ''
-under statutory provisions of the Collections of Statistics Act, 1953 (Central Rule,
-) in the whole country except for the State of Jammu & Kashmir where the
-ASI is conducted under Jammu & Kashmir Collection of Statistics Act, 1961. The
-survey covers all factories registered under Section 2 m (i) and 2 m (ii) of the
-Factories Act, 1948 (2 m (i): those factories employing 10 or more workers and using
-power and 2 m (ii): those factories employing 20 or more workers and not using
-power) and Establishment registered under the Bidi and Cigar Workers (Conditions
-of Employment) Act, 1966. The coverage extends not only to manufacturing sector
-but also to other categories under services such as cold storage, water supply, gas
-production, motion picture production, laundry services, repair of motor vehicles
-and of other consumer durables.
-However , defence factories, technical training
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-institutions, jail factories, unit engaged in storage and distribution of oil,
+ECONOMY: INDIA 1]]
-restaurants/cafe and computer services are kept out of the survey. From ASI 1998-
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-, the electricity units engaged in generation, transmission and distribution
+ECONOMY: INDIA 1]]
-registered with the Central Electricity Authority (CEA) are excluded. The
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-departmental units such as railways workshops, road transportation, corporation
+ECONOMY: INDIA 1]]
-workshops, government mints, sanitary, water supply, gas storage etc. are not
-covered as there are alternative sources of their data compilation for the Gross
-Domestic product (GDP) estimates by the National Accounts Division of Central
-Statistical Organisation (CSO).
-The NSSO also provides technical guidance to States in the field of agricultural
-statistics for conducting crop estimation surveys and keeps a continuous watch on
-the quality of crop statistics through the Improvement of Crop Statistics Scheme.
-The NSSO regularly collects rural price data on monthly basis from shops/
-outlets in selected markets located in a sample of 603 villages for compilation of
-Consumer Price Index (Agricultural Labour/Rural Labour). For urban area, price
-data is being collected from compilation of new series of Consumer Price Index
-(Urban) from 310 towns spread over all the States/UTs.
-The NSSO conducts an Urban Frame Survey (UFS) for providing a sampling
+==1980-2020==
-frame of first stage units in the urban sector for its surveys. It is carried out in a
+[[File: The GDP of India (in PPP terms) vis-à-vis the GDPs of the other top 7 economies of the time, 1980-2020.jpg|The GDP of India (in PPP terms) vis-à-vis the GDPs of the other top 7 economies of the time, 1980-2020 <br/> From: [https://timesofindia.indiatimes.com/world/how-the-g7-should-really-look/articleshow/79918482.cms  December 23, 2020: ''The Times of India'']|frame|500px]]
-cycle of five years (known as Phase of Urban Frame Survey) thereby providing an
-updated frame twice in a span of 10 years. Currently the field work of 2007-12
-Phase of Urban Frame Survey is on in accordance with new guidelines finalised
-by the committee set up for reviewing the arrangement of preparation and updation
-of Urban Frame.
-=PRICES=
+'''See graphic''':
-===Wholesale Prices===
-The current series of index numbers of wholesale prices (base 1993-94=100) was
-introduced from April 2000. The series have 435 commodities with 1918 quotaions.
-Table 6.8 gives the index numbers of wholesale prices (1993-94=100) for the period
--04 to 2009-10 for all commodities and for selected groups/sub-groups of three
-major groups, namely: (i) primary articles; (ii) fuel, power, light, lubricants; and
-(iii) manufactured products.
-===Consumer Prices===
+'' The GDP of India (in PPP terms) vis-à-vis the GDPs of the other top 7 economies of the time, 1980-2020 ''
-Table 6.9 gives Consumer Price Index Numbers for industrial workers on base
-=100 for the period 1993-94 to 2005-06 and on base:2001 = 100 for the period
--07 to 2009-10. New Series of Consumer Price Index Numbers for Industrial
-Workers on base 2001 = 100 had been released w.e.f. January 2006 Index. Table
-.10 gives the Consumer Price Index Numbers for urban non-manual employees
-for the 132 India 2010 period 1993-94 to 2009-10 at the all-India level and some
-selected centres. Since April, 2008, the Central Statistical Organisation has
-discontinued the compilation of Centre-wise Consumer Price Index for urban nonmanual
-employees.
-=ANNUAL SURVEY OF INDUSTRIES=
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-The Annual Survey of Industries (ASI) is the principal source of industrial statistics
+ECONOMY: INDIA 1]]
-in India. It provides statistical information to objectively and realistically assess
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-and evaluate the change in the growth, composition and structure of the organised
+ECONOMY: INDIA 1]]
-manufacturing sector. This sector comprises activities related to manufacturing
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-processes, repair services, generation, transmission, etc., of electricity, gas and water
+ECONOMY: INDIA 1]]
-supply and cold storage.
-The survey is conducted annually under the statutory
+==1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex, FII flow==
-provisions of the Collection of Statistics Act, 1953. The ASI extends to the entire
+[[File: India, 1990-2020- sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow.jpg| India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow <br/> From: [https://timesofindia.indiatimes.com/business/india-business/sensex-wealth-creation-in-seven-charts/articleshow/79810073.cms  December 19, 2020: ''The Times of India'']|frame|500px]]
-country except the States of Arunachal Pradesh, Mizoram and Sikkim and the Union
-Territory of Lakshadweep. It covers all factories registered under Sections 2m(i)
-and 2m(ii) of the Factories Act, 1948. The survey also covers bidi and cigar
-manufacturing establishments registered under the Bidi and Cigar Workers
-(Conditions of Employment) Act, 1966. Certain services and activities like cold
-storage, water supply, repair of motor vehicles and of other consumer durable like
-watches, etc., are also covered under the survey.
-Defence establishments, oil storage
+'''See graphic''':
-and distribution depots, restaurants, hotels, cafe and computer services and also
-the technical training institutes are excluded from the purview of survey. Units
-registered with Central Electricity Authority (CEA) are also not covered under the
-ASI. The data collected through ASI relate to capital, employment and emoluments,
-consumption of fuel and lubricants, raw material and other input/output, value
-added, labour turnover, absenteeism, labour cost, construction of houses by
-employers for their employees and other characteristics of factories/industrial
-establishments. The field work is carried out by the Field Operations Division,
-NSSO. The CSO processes the data and publishes the results.
-The ASI 2007-08 indicates a total of 1,55,321 working factories in all States
+'' India, 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex reserves, FII inflow ''
-and Union Territories except the States of Arunachal Pradesh, Mizoram and Sikkim
-and the Union Territory of Lakshadweep. These factories together had a total of
-fixed capital worth Rs. 10,55,96,614 Lakhs, and invested capital Rs.15,35,17,773 Lakhs.
-These factories have provided gainful employment to Rs.1,13,27,485 persons and
-distributed Rs. 1,29,44,123 Lakhs as emoluments to employees.
-=ENERGY STATISTICS 2011=
-Energy sector is one of the most important basic infrastructure sectors, for any
+==1991-21: salaries, wealth, share of agriculture, women workers==
-country. Proper energy planning is essential for achieving energy security. Every
+[[File: 1991-21, salaries, wealth, share of agriculture, women workers in India.jpg| 1991-21: salaries, wealth, share of agriculture, women workers in India <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F02%2F02&entity=Ar01009&sk=6EC031B2&mode=image  February 2, 2021: ''The Times of India'']|frame|500px]]
-country has to formulate its policy to optimize the use of different energy soures
-for meeting the demands of its households, agricultural industrial and commercial
-sectors. This necessitates an integrated and updated database of the production
-and consumption of different energy sources viz., coal, crude, petroleum, natural
-gas and electricity.
-The CSO brings out an annual publication "Energy Statistics" incorporating
+'''See graphic''':
-data on reserves, installed capacity, potential for generation, production,
-consumption, import, export and wholesale price of different energy commodities
-as available from the concerned line Ministries of the Government of India.
-"Energy Statistic 2011", is the 18th issue in the series. The
-objective of this publication is to meet the information needs of national and
-international policy markers, administrators and researchers concerned with the
-energy sector.
-Energy Statistics 2011 contains information on the reserves, installed capaity,
+'' 1991-21: salaries, wealth, share of agriculture, women workers in India ''
-production, consumption, foreign trade, etc. to give a holistic view of all energy
-resources, The publication has also brought energy commodity balance which
-provides sector wise production and consumption for the last two years. To improve
-the unity of the publication, various indicators viz. growth rates, compound annual
-growth rates, percentage distributions, have been provided in relevant tables. For
-the first time analytical highlights on the performance of the sector has also been
-brought out.
-   [[File:  basic.PNG||frame|500px]]
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-   [[File:  basic1.PNG||frame|500px]]
+==1997-2018: Fiscal Deficit to GDP==
+[[File: Fiscal Deficit to GDP, 1997-2018.jpg|Fiscal Deficit to GDP, 1990-2018 <br/> This is the size of the government’s debt as a proportion of the overall size of the economy.Data source for this chart: World Bank <br/> From: [https://timesofindia.indiatimes.com/business/india-business/budget/data-hub  January 29, 2018: ''The Times of India'']|frame|500px]]
- [[File:  basic2.PNG||frame|500px]]
+'''See graphic''':
-  [[File:  basic3.PNG||frame|500px]]
+''Fiscal Deficit to GDP, 1990-2018''
-   [[File:  basic4.PNG||frame|500px]]
+==1997-2018: Gross Fixed Capital Formation (GFCF)==
+[[File: Gross Fixed Capital Formation (GFCF) is an indicator of how much investment activity is happening in the country and a slowdown on this front does not bode well for overall growth and job creation- 1997-2018.jpg|Gross Fixed Capital Formation (GFCF) is an indicator of how much investment activity is happening in the country and a slowdown on this front does not bode well for overall growth and job creation- 1997-2018 <br/> Data source for this chart: World Bank <br/> From: [https://timesofindia.indiatimes.com/business/india-business/budget/data-hub  January 29, 2018: ''The Times of India'']|frame|500px]]
-   [[File:  basic5.PNG||frame|500px]]
+'''See graphic''':
-   [[File:  basic6.PNG||frame|500px]]
+''Gross Fixed Capital Formation (GFCF) is an indicator of how much investment activity is happening in the country and a slowdown on this front does not bode well for overall growth and job creation- 1997-2018''
-=ECONOMIC CENSUS=
+==1997-2018: Inflation trend==
+[[File: Inflation trend, 1997-2018.jpg|Inflation trend, 1997-2018 <br/> This is the rate at which the general level of prices in the economy is rising.Data source for this chart: World Bank <br/> From: [https://timesofindia.indiatimes.com/business/india-business/budget/data-hub  January 29, 2018: ''The Times of India'']|frame|500px]]
-The CSO undertook a countrywide Economic Census, for the first time in 1977 to
+'''See graphic''':
-provide a better frame for conducting follow-up surveys for collection of detailed
-information particularloy from unorganized establisments. The basic information,
-relating to the distribution of non-agricultural establishments by activity, type of
-ownership, rural/urban break up and by employment size needed for preparation
-of a frame for conducting detailed surveys is collected in the periodic Economic
-Census.
-The second and third Economic Censuses were conducted in 1980 and 1990
+''Inflation trend, 1997-2018''
-along with house listing operation of 1981 and 1991 Population Censuses
-respectively. The fourth economic Census was conducted during 1998 in all States/
-UTs in collaboration with concerned State/UT Directorates of Economics and
-Statistics.
-The Fifth Economic Census was conducted in the year 2005 in all the States/
+==1997-2018: Unemployment Rate==
-UTs again in collaboration with State/UT Directorates of Economics and Statistics.
+[[File: Unemployment Rate, 1997-2018.jpg|Unemployment Rate, 1997-2018 <br/> The unemployment rate measures the proportion of people in the labour force looking for a job but unable to find one.Data source for this chart: World Bank <br/> From: [https://timesofindia.indiatimes.com/business/india-business/budget/data-hub  January 29, 2018: ''The Times of India'']|frame|500px]]
-The fifth Census covered all entrepreneurial activities throughout the country (except
-crop production and planation).
-[[File:  basic7.PNG||frame|500px]]
+'''See graphic''':
-  [[File:  basic8.PNG||frame|500px]]
+''Unemployment Rate, 1997-18''
-  [[File:  basic9.PNG||frame|500px]]
+==2009-18: ₹ vs. $/ GDP/ adding $1 trillion to GDP==
+[[File: 2009-19- The Indian rupee appreciated twice vis-à-vis the US dollar.jpg| i) 2009-19: The Indian rupee appreciated twice vis-à-vis the US dollar; ii) The number of years that it took China and India to add each $1 trillion to their GDPs/ economies; iii) 2014-18: India’s GDP estimated by three different methods. <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F06%2F18&entity=Ar01905&sk=B965B0C0&mode=image  June 18, 2019: ''The Times of India'']|frame|500px]]
-[[File:  basic10.PNG||frame|500px]]
+'''See graphic''':
+'' i) 2009-19: The Indian rupee appreciated twice vis-à-vis the US dollar; ii) The number of years that it took China and India to add each $1 trillion to their GDPs/ economies; iii) 2014-18: India’s GDP estimated by three different methods. ''
-The final results of Economic Census 2005 were released on 29th May, 2008.
-According to the results there were 41.8 million establishments in the country
-employing 100.9 million persons.
-The detailed results of the Fifth Economic Census are available on the Ministry's
+==2011/ 13-19==
-website viz. www.mospi.gov.in. the Ministry has proposed to conduct 6th Economic
+[[File: The Indian economy, 2013-19, Growth rate vis-à-vis the world, Inflation, Growth in loans and advances of NBFCs, Tax to GDP ratio, Items of revenue expenditure, unproductive expenditure.jpg| The Indian economy, 2013-19: <br/> i)Growth rate vis-à-vis the world; <br/> ii) Inflation; <br/> iii) Growth in loans and advances of NBFCs; <br/> iv) Tax to GDP ratio; <br/> v) Items of revenue expenditure, unproductive expenditure <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F07%2F05&entity=Ar03206&sk=845AA4D9&mode=image  July 5, 2019: ''The Times of India'']|frame|500px]]
-Census during 2012 in association with State/UT Directorates of Economics &
-Statistics.
-==INFRASTRUCTURE STATISTICS - 2010==
-Infrastructure Statistics is one of the most important sector for any country. Given
+See graphic, ‘ The Indian economy, 2013-19: <br/> i)Growth rate vis-à-vis the world; <br/> ii) Inflation; <br/> iii) Growth in loans and advances of NBFCs; <br/> iv) Tax to GDP ratio; <br/> v) Items of revenue expenditure, unproductive expenditure '
-the crucial role of infrastructure in promoting inclusive and sustainable socioeconomic
-development, quality infrastructure statistics is very much essential for
-informed decision making in many spheres, the important ones being the following:
-(i) Planning and policy making
+==2017>19: The slowdown in demand ==
+[[File: 2017-19, The slowdown in demand.jpg| 2017>19: The slowdown in demand <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL/2019/11/02&entity=Ar00516&sk=5DE030E4&mode=image  Nov 1, 2019: ''The Times of India'']|frame|500px]]
-Quality statistics are essential for effective planning, monitoring and evaluation of
-infrastructure projects and for optimal allocation of scarce resources among the
-competing projects to achieve the desired plan objectives of inclusive and sustainable
-economic development.
-(ii) Business promotion
+'''See graphic''':
-Decisions regarding industrial diversification to new areas and new markets and
+'' 2017>19: The slowdown in demand ''
-investment in infrastructure are to be based on up-to-date and reliable micro-level
-and macro-level data. Business houses can get these data either through the conduct
-of specialized surveys, which re very costly, or from the existing data sources of the
-Government, research institutions, business associations, etc.
- [[File:  basic8.PNG||frame|500px]]
-  [[File:  basic11.PNG||frame|500px]]
-=INFRACTRUCTURE AND PROJECT MONITORING=
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-The Infrastructure and Project Monitoring Division (IPMD) in the Ministry of
+==2020, the year of the Covid pandemic==
-Statistics and Programme Implementation is monitoring the performance of the
+[https://timesofindia.indiatimes.com/business/india-business/rbi-sees-v-shaped-recovery-state-of-indian-economy-explained-in-10-charts/articleshow/80409686.cms  January 22, 2021: ''The Times of India'']
-country’s eleven key infrastructure sectors, namely, Power, Coal, Railways, Shipping
-and Ports, Telecommunications, Fertilizers, Cement, Petroleum & Roads and Civil
-Aviation. It prepares and submits monthly Review Reports and Capsule Reports
-on the performance of infrastructure sectors, inter-alia, to the Prime Minister office,
-and the Cabinet Secretariat. The growth rate in respect of each infrastructure sector
-since 2000-01 and the production/achievement during 2008-09 is given in the
-==MONITORING OF CENTRAL SECTOR PROJECTS==
-The IMPD monitors the time and cost overruns in respect of the Central Sector
+[[File: Quarterly GDP growth, 2014-21.jpg|Quarterly GDP growth, 2014-21 <br/> From: [https://timesofindia.indiatimes.com/business/india-business/rbi-sees-v-shaped-recovery-state-of-indian-economy-explained-in-10-charts/articleshow/80409686.cms  January 22, 2021: ''The Times of India'']|frame|500px]]
-Projects costing Rs 150 crore and above, through the mechanism of On-line
-Computerized Monitoring System (OCMS), which enables on-line furnishing of
-information by projects (costing Rs. 1000 crore and above are monitored separately
-every month, the projects above Rs. 150 crore also monitored every quarter. The IPMD
-also, in coordination with the administrative Ministries concerned, takes up
-initiatives to bring about systematic improvements in various areas of project
-implementation. It also taken up/highlights the projects with times and cost overruns
-in various forums such as quarterly meetings taken by the administrative Ministries
-concerned, takes up initiatives to bring about systematic improvements in various
-areas of project implementation. It also takes up/highlights the projects with times
-and cost overruns in various forums such as quarterly meetings taken by the
-administrative Ministries. MOU meetings by the Department of Heavy Industries,
-Supplying of information when solicited by PMO, etc. As on 01.03.2011, there were
-projects with an anticipated cost of Rs. 210882/25 crore on the monitor of this
-Ministry, The statement of on-going projects showing extent of time and cost
-overruns with respect to the latest schedule may be seen in the Table. 6.12 (A) or
-.12 (B).
-In addition, the IPMD has been monitoring the progress of irrigation the
-progress of irrigation projects, which are being financed centrally under the
-Accelerated Irrigation Benefit Programme (AIBP) and a report is brought out every
-year.
-=TWENTY POINT PROGRAMME=
+'''RBI sees V-shaped recovery: State of Indian economy explained in 10 charts'''
-The Twenty Point Programme (TPP) was conceived with the objective of improving
-the quality of life of the people, especially those living below the poverty line. It is
-meant to give a thrust to schemes relating to poverty alleviation, employment
-generation in rural areas, housing, education, family welfare & health, protection
-of environment and many other schemes having a bearing on the quality of life,
-especially in the rural areas. The programme, initiated in the year 1975 was
-restructured in 1982, 1986 and in 2006. The restructured programme, known as
-Twenty Point Programme (TPP) – 2006, became operational with effect from 1st
-April, 2007.
-==TWENTY POINT PROGRAMME(TPP) – 2006==
+NEW DELHI: With domestic activity gradually returning to pre-Covid levels, the Reserve Bank of India (RBI) sees a phoenix-like recovery for the Indian economy.
-Twenty Point Programme (TPP)-2006 originally consisted of 20 points and 66
-items being monitored individually by Central Nodal Ministries concerned. One of
-the 66 items viz. "Sompoorna Grameen Rozgar Yojana (SGRY)" has since been merged
-with another item namely "National Rural Employment Guarantee Act" with effect
-from 1st April, 2008, which has now been renamed as "Mahatama Gandhi National
-Rural Employment Guarantee Act" (MGNREGA) w.e.f. 31stDecember, 2009, therefore
-SGRY was dropped from the list of 66 items under TPP-2006. The list of 65 items is
-given is to be 6.13.
-From April, 2009, under 'Food Supply' Allocation and Off-take of food grains
+According to a recent report published by the central bank, the country's gross domestic product (GDP) is not far from attaining positive growth. It observed that the economy will experience a V-shaped recovery in 2021, where V will stand for vaccine.
-for Below Poverty Line (BPL) population is being individually monitored in addition
+India has already started one of the world’s biggest vaccination drives against Covid-19. It plans to inoculate about 300 million people on priority by year end.
-to separate monitoring of Allocation and Off-take of food grains under Targeted
-Public Distribution System (TPDS) and Antyodaya Anna Yojna. Of the 65 items, 20
-items, (34 parameters) were monitored monthly during 2010-11 on the basis of the
-monthly progress report in respect of these items supplied by various States/Union
-Territories (for 16 items) and the Central Nodal Ministries (for 4 items).
-==Table begins==
-==TABLE 6.12(A)==
-EXTENT OF COST AND TIME OVERRUN IN PROJECTS WITH RESPECT TO LATEST SCHEDULE (AS ON 01.03.2011)
+RBI's report also stated that barring another wave of Covid, the worst is over for India. Hence, policymakers might soon have more room to support the recovery process.
-Total cost (R Cr.) Projects with time overrun
+''' State of Indian economy '''
-Cost
-S. No. of Latest Anticipated overrun Latest Anticipated Range
+The Covid-19 pandemic has been a human and economic catastrophe for India. Almost one-fourth of the country's economic activity was wiped out due to fall in domestic demand in wake of the strict nationwide lockdowns to curb Covid infections.
-No. Sector Projects approved cost (%) No. approved cost (Months)
+India's GDP dipped a historic 23.9 per cent in the first quarter (Q1) of 2020. The contraction narrowed down to 7.5 per cent in the second quarter (Q2).
-. Atomic Energy 3 17759.29 22607.29 29.03 2 16663.00 21501.00 27.23
+However, so far India seems to have managed the Covid crisis pretty well.
-. Civil Aviation 7 4521.48 4521.48 0.00 0 0.00 0.00 0.00
+The first advance estimates of national income for 2020-21 released by the National Statistical Office (NSO) estimated real GDP growth in 2020-21 to be at (-) 7.7 per cent as against (-) 10.3 per cent projected by the International Monetary Fund (IMF) in October 2020. In December 2020, RBI’s monetary policy committee (MPC) had projected GDP to be (-) 7.5 per cent.
-. Coal 45 27069.30 28789.58 22.70 9 10074.29 12360.82 6.36
+''' Rise in government expenditure '''
-. Fertilizers 6 5317.41 5317.41 0.00 0 0.00 0.00 0.00
+Total expenditure of the government surged 48.3 per cent on year-on-year (y-o-y) basis in the month of November. While, capital expenditure shrugged off a three-month contraction and expanded 248.5 per cent.
-. Mines 1 4401.76 4401.76 0.00 0 0.00 0.00 0.00
+This was mainly due to the introduction of the Atmanirbhar Bharat package.
-. Steel 14 55234.50 59739.88 44.34 7 10161.89 14667.27 8.16
+''' Revival of imports, exports '''
-. Petroleum 70 183140.07 174919.99 6.99 2 2259.93 2418.01 -4.49
+After contracting for 9 consecutive months, merchandise imports finally experienced a growth of 7.6 per cent (y-o-y) in December 2020.
-. Power 82 174223.71 179065.68 21.69 13 24802.20 30181.76 2.78
+The revival was led by gold, electronic goods and vegetable oils. Rising imports of pearls and precious stones, machinery, electronic goods and textiles reflect the revival of domestic activity as they are of the nature of intermediate goods in supply chains. This also augurs well for exports going forward.
-. Railways 145 82031.02 122500.87 79.95 103 50692.08 91218.21 49.33
+This suggests that moribund absorptive capacity of the economy is coming back to life, backed by domestic demand.
-. Road Transport &
+India’s merchandise exports have reached pre-Covid levels and exhibited a growth of 0.1 per cent in December 2020. Non-oil exports actually expanded by 5.6 per cent, marking the fourth consecutive month of positive growth.
-Highways 122 50323.24 52221.65 060.51 11 3482.90 5590.40 3.77
-. Shipping & Ports 25 19620.83 19955.57 7.22 5 7420.12 7955.92 1.71
+'''Financial markets surge'''
-. Telecommunications 41 19999.09 20424.17 31.53 4 1610.44 2118.20 2.13
+The Covid-19 pandemic dragged the sensex to record low in late March 2020. But, it staged a strong recovery from the lows. Both the BSE and NSE indices finally wrapped up 2020 on a bullish note, with sensex gaining nearly 16 per cent.
-. Urban Development 3 15173.44 30684.66 102.23 3 15173.44 30684.66 102.23
+The BSE index jumped almost 91 per cent from its record low of 25,881 to breach the 50,000-mark in just over 10 months.
-. Water Resources 1 542.90 1187.00 118.6 1 542.90 1187.00 118.64
+''' IPO market '''
-Total 565 659368.04 726336.99 10.15 160 142883.19 219883.25 53.89
+During December 2020, the listing of two initial public offerings (IPOs), aggregating Rs 1,351 crore, took the total resource mobilisation through main board IPOs to Rs 15,971 crore during 2020-21 (up to December 2020), marking a sharp rebound from Rs 10,487 crore in the corresponding period of the previous year.
-==Table ends==
-==Table begins==
-==TABLE:6.12 (B)==
+Beginning with the first IPO issued in July 2020, healthcare and finance sector companies have garnered the maximum amount of resources among all initial offerings.
-EXTENT OF COST OVERRUN IN PROJECTS WITH RESPECT TO LATEST SCHEDULE
-(As on 1.03.2011)
+''' Industrial activity '''
-Total cost (Rs. Cr.) Projects with cost overrun
+Although industrial output remains volatile, contracting by 1.9 per cent in November 2020 after a record expansion in October by 4.2 per cent, industrial activity is finally turning around.
-Cost %
+The headline purchasing managers’ index (PMI) manufacturing expanded in December 2020 to 56.4, a tick higher than November’s reading of 56.3. Both new orders and output continued to grow strongly.
-S. No. of Latest Anticipated overrun Latest Anticipated Increase
+''' Record GST collections '''
-No. Sector Projects approved cost (%) No. approved cost Base
+The gross Goods and Services Tax (GST) collections touched a record high of over Rs 1.15 lakh crore in December — the highest since the implementation of the regime. The collection indicates that the economy continues to show signs of recovery after a stringent lockdown last year.
-. Atomic Energy 3 17769.29 22607.29 29.03 2 16663.00 21501.00 12-39
+With this, the GST has also now crossed the psychological Rs 1 lakh crore-mark for the third straight month in the current fiscal.
-. Civil Aviation 7 4521.48 4521.48 0.00 1 1942.51 1942.51 3-3
-. Coal 45 270069.30 28789.58 22.70 17 12827.52 14395.98 11-64
-. Fertilizers 6 5317.41 5317.41 0.00 1 1478.63 1478.63 1-1
+''' Fall in government revenue '''
-. Mines 1 4401.76 4401.76 0.00 0 0.00 0.00 -
+Even though GST collections have been at record levels during the year, the pandemic has inflicted a ‘scissor effect’ on government revenues.
-. Steel 14 55234.50 55234.50 44.34 6 16143.90 20174.00 16-36
+On the one hand, it stretched expenditure on account of fiscal support to the economy that was completely unanticipated at the time of drawing up Budgets for 2020-21.
-. Petroleum 70 183140.07 174919.99 6.99 12 10089.36 18297.09 1-36
+On the other, there was contraction in revenues as activity went into complete standstill with lockdowns and other containment measures.
-. Power 82 174323.71 179065.88 21.69 30 94745.71 99743.05 1-90
+As a result, the general government gross fiscal deficit (GFD) rose to 14.5 per cent in the first half of 2020-21.
-. Railways 145 82031.02 122500.87 79.95 19 23109.34 35376.22 9-225
+==2015-22==
+[[File: The Indian economy- the main trends 2015- 2022- A.jpg|The Indian economy- the main trends 2015- 2022/ A <br/> From: [https://epaper.timesgroup.com/article-share?article=01_02_2023_023_014_cap_TOI  February 1, 2023: ''The Times of India'']|frame|500px]]
-. Road Transport &
+[[File: The Indian economy- the main trends 2015- 2022- B.jpg|The Indian economy- the main trends 2015- 2022/ B <br/> From: [https://epaper.timesgroup.com/article-share?article=01_02_2023_024_005_cap_TOI  February 1, 2023: ''The Times of India'']|frame|500px]]
-Highways 122 50323.24 52221.65 60.51 43 14222.52 14807.43 1-90
-. Shipping & Ports 25 19620.83 19955.57 7.22 10 9393.25 9826.55 2-78
+'''See graphics''':
-. Telecommunications 41 19999.09 20424.17 31.53 1 249.00 229.41 54.54
+'' The Indian economy- the main trends 2015- 2022/ A ''
-. Urban Development 3 15172.44 30684.66 102.23 1 6395.0 11609.00 15-15
+'' The Indian economy- the main trends 2015- 2022/ B ''
-. Water Resources 1 542.90 1187.00 118.64 1 542.90 1187.00 60-60
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-Total 565 659368.04 726336.99 10.15 144 216802.64 250567.87 -
+=The year-wise position, especially after 2002=
-==Table ends==
-=MONITORING DESIGN FOR TPP- 2006=
-The monitoring mechanism for TPP-2006 has been widened by including block
+[[File: New jobs created in India, 2010-16, Sales Growth of corporate India-Nominal and Real, 2002-17, iii) Quarterly growth in Gross Fixed Capital Formation, Jun 2013- Sept 2016.jpg|i) New jobs created in India, 2010-16; <br/> ii) Sales Growth of corporate India-Nominal and Real (%), 2002-17; <br/> iii) Quarterly growth in Gross Fixed Capital Formation (%), Jun 2013- Sept 2016; [http://epaperbeta.timesofindia.com/Gallery.aspx?id=31_01_2017_013_015_010&type=P&artUrl=Economy-not-in-good-shape-say-former-PM-31012017013015&eid=31808 The Times of India], January 31, 2017|frame|500px]]
-level monitoring in addition to District, State and Central level monitoring. Most of
-the States/Union Territories have constituted the block, district and state level
-monitoring committees. At the Centre, the progress of individual items is monitored
-and reviewed by the Departments/Ministries concerned and the Ministry of
-Statistics & Programme Implementation (MOSPI) monitors the Programme/
-Schemes covered under TPP-2006 on the basis of monthly performance reports
-received from State Governments/UT Adminstrations and Central Nodal Ministries.
-The Monitoring Guidelines of TPP-2006 are again under revision.
-=MANAGEMENT INFORMATION SYSTEM (MIS)=
+==2004- 18==
-The Management Information System (MIS) consists of Monthly Progress Report
+[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F06%2F01&entity=Ar02301&sk=005B4784&mode=text  Better growth prospects in FY19, but oil a risk: Expert, June 1, 2018: ''The Times of India'']
-(MPR) for monthly monitored items based on information received from States/
-UTs and Central Ministries concerned. The Monthly Capsule Report contains
-highlights of MPR. Monthly Progress Report and Monthly Capsule Report have
-been released up to March, 2010. The Ministry of Statistics and Progrmame
-Implementation also brings out an Annual Review Report on TPP which covers all
-items under TPP. The report is prepared on the basis of information received from
-Central Nodal Ministries and State Governments/UT Administrations and the report
-pertains to 2009-10.
-=MONITORING AND IMPACT ASSESSMENT OF TWENTY POINT
+[[File: The growth of India’s GDP, 2004- 18, 2016-18; sector-wise growth and growth in per capita income.jpg|The growth of India’s GDP, 2004- 18. <br/> 2016-18 <br/> i) Sector-wise growth, and <br/> Growth in per capita income <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F06%2F01&entity=Ar02301&sk=005B4784&mode=text  Better growth prospects in FY19, but oil a risk: Expert, June 1, 2018: ''The Times of India'']|frame|500px]]
-PROGRAMME-2006=
-As per the mandate given by the Cabinet, this Ministry has awarded a study to
-assess the impact of National Rural Guarantee Scheme (NREGS) for selected three
-districts of the North-East India namely Saiha (Mizoram), Mon (Nagaland) and
-Dhalai (Tripura) to NIRD, Guwahati in 2009. The final report of the study is yet to
-be submitted by NIRD, Guwahati.
-Another Impact Assessment Study on Government assisted projects/schemes for
+Economists are predicting a further pick-up in activity during the current financial year on the back of higher consumption demand, a stable GST and a surge in investment towards end of the year. But they have identified higher crude oil price and its impact on inflation, current account deficit and overall growth as risk factors that are expected to weigh on RBI’s Monetary Policy Committee (MPC), which meets next week.
-Rehabilitation of Disabled Persons under Deendayal Disability Rehabilitation
-Scheme. (DDRS) in the States of Delhi, Karnataka, Madhya Pradesh and West Bengal
-was undertaken during 2010-11. Its final report was submitted in March, 2011.
-=ANNUAL PERFORMANCE OF MONTHLY MONITORED ITEMS UNDER
+Most economists are predicting a GDP growth rate of 7-7.5%, with a majority closer to the upper end of the band. A few have already lowered their projections, such as Moody’s which cut from 7.5% to 7.3%, citing the impact of crude. But others, including the government, are sticking to their earlier estimates.
-TWENTY POINT PROGRAMME (TPP) - 2006=
-The annual performance of the monthly monitored items under the TPP-2006 during
+“I don’t think we are revising our estimates or the forecast for the current year, which is about 7.5%. We retain it at that level... there is no one-to-one relation between the oil price growth and the GDP growth. There have been various quarters and years when oil prices have gone up but there has been growth also. So, we at this moment feel that we should retain (the growth estimate),” economic affairs secretary Subhash Chandra Garg told reporters after the GDP numbers were released.
-April, 2010 to March, 2011 is given in the Table-6.14
-==Table begins==
-==TABLE 6.13: TWENTY POINT PROGRAMME (TPP)-2006==
-List of Points and Items under TPP-2006
+Economists too are bullish at the moment. “The growth is likely to realise from pick-up in consumption, especially rural consumption, with the forecast of normal monsoon, increased public sector spending and uptick in performance of the manufacturing sector in coming quarters. The manufacturing sector, which witnessed improvement in the last three quarters, is expected to benefit in Q1 of FY19 due to favourable base effect. In addition, investment rate has seen some improvement on the quarterly basis and is expected to maintain the momentum going ahead,” said Madan Sabhnavis, economist at CARE, while forecasting 7.5% growth this fiscal.
-Point Item Name of the Points/Items
+Health of the banking sector will also be crucial. “The ability of public sector banks to support lending growth, the risk of monetary tightening and trade wars, and impact of higher crude oil prices on purchasing power of consumers and corporate earnings have emerged as risks,” said Aditi Nayar, principal economist at ICRA.
-No. No.
+==2004-14 vis-à-vis 2014-18==
+[[File: The Indian economy in 2004-14 vis-à-vis 2014-18- Consumption, Investment, Credit Growth, Fiscal Deficit, Wholesale Price Inflation, Interest Rates, Current account Deficit, Foreign Exchange Reserves.jpg|The Indian economy in 2004-14 vis-à-vis 2014-18-<br/> i) Consumption, <br/> ii) Investment, <br/> iii)Credit Growth, <br/> iv) Fiscal Deficit, <br/>  v) Wholesale Price Inflation, <br/> vi) Interest Rates, <br/> vii) Current account Deficit, <br/> viii) Foreign Exchange Reserves <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F08%2F23&entity=Ar00603&sk=60D4143E&mode=image  August 23, 2018: ''The Times of India'']|frame|500px]]
-I. Garibi Hatao [Poverty Eradication]
+'''See graphic''':
-Rural Areas
-. Employment generation under the National Rural
+''The Indian economy in 2004-14 vis-à-vis 2014-18- Consumption, Investment, Credit Growth, Fiscal Deficit, Wholesale Price Inflation, Interest Rates, Current account Deficit, Foreign Exchange Reserves''
-Employment Guarantee Act
-. Swaranjayanti Gram Swarozgar Yojana
+===2004-14 (and 1988-89, 1994-2003)===
+[https://economictimes.indiatimes.com/news/economy/indicators/india-clocked-10-08-pc-growth-under-manmohan-singhs-tenure-shows-data/articleshow/65444247.cms  India clocked 10.08 per cent growth under Manmohan Singh's tenure: Report, August 18, 2018: ''The Economic Times'']
-. Rural Business Hubs in Partnership with Panchayats
+[[File: Estimation of average growth- 1994- 2014.jpg|Estimation of average growth- 1994- 2014 <br/> From: [https://economictimes.indiatimes.com/news/economy/indicators/india-clocked-10-08-pc-growth-under-manmohan-singhs-tenure-shows-data/articleshow/65444247.cms  India clocked 10.08 per cent growth under Manmohan Singh's tenure: Report, August 18, 2018: ''The Economic Times'']|frame|500px]]
-. Self-help Groups
-Urban Areas
-. Swaranjayanti Shehari Rozgar Yojana
+The numbers have been calculated by a committee set up by the National Statistical Commission.
-II. Jan Shakti (Power to People)
+India’s economic growth numbers, adjusted for the base year of FY12, show that expansion was marginally higher under the new series after the economy picked up pace in FY04 and generally lower in the preceding years.
-. Local Self Government (Panchayati Raj and Urban Local Bodies)
+The numbers have been calculated by a committee set up by the National Statistical Commission. Former chief statistician Pronab Sen said the exercise was a good start but that more work was needed.
-- Activity Mapping for devolution of functions
+The report shows real GDP growth touching a high of 10.08% in 2006-07 in terms of factor cost, the highest since liberalisation of the economy in 1991 and the second highest ever, behind 10.2% during the Rajiv Gandhi administration in 1988-89. Under the old series, growth in 2006-07 was 9.57%.
-- Budget Flow of Funds
+In terms of market prices, the highest growth was 10.78% in 2010-11.
-- Assignment of Functionaries
+The new GDP series with FY12 as the base year was begun in 2015 and follows internationally accepted methods based on market prices as opposed to the factor cost method followed earlier and uses corporate numbers to estimate manufacturing output.
-. Quick and Inexpensive Justice – Gram Nyayalayas and Nyaya
+The committee has issued adjusted numbers for the 1994-2014 period. Average growth in first five-year term of the Congress-led United Progressive Alliance (UPA-1), FY05-09, goes up under the new series to 8.37% from 8.03% earlier in terms of market prices.
-Panchayats.
-. District Planning Committees.
+In terms of factor cost, the increase is from 8.43% to 8.87%. Average growth during the preceding Bharatiya Janata Party-led National Democratic Alliance administration is down marginally from 5.89% to 5.73%. In terms of factor cost, the decline was from 6.01% to 5.83%.
-III. Kisan Mitra [Support to Farmers]
+In the first three years of UPA-2 (FY10-12), the average growth rate goes up from 8.46% to 8.86%. In terms of factor cost, the revision is up from 8.06% to 8.49%. Growth data based on the old series is available till FY12 while the revised series is till FY14.
-. Watershed development
+The Congress party said growth numbers were better under the UPA. “It proves that like-for-like, the economy under both UPA terms (10-year avg: 8.1%) outperformed the Modi Govt (avg 7.3%),” the party’s official handle tweeted. “The UPA also delivered the only instance of double-digit annual growth in modern Indian history.”
-. Marketing and infrastructural support to farmers
+Over the 1994-95 to 2002-03 period, the restated growth under the new series is lower than GDP estimated according to market prices.
-. Irrigation facilities (including minor and micro irrigation) for
+“Growth is higher in the new back series especially for value-added growth,” said Aditi Nayar, principal economist at ICRA. “There is a fairly secular trend after 2003-04.”
-agriculture
-Credit to farmers
+The committee said the deviations were not significant and attributed these to discrepancies.
-. Distribution of waste land to the landless
+“When we look at the growth rates, there are some differences, although not significant and this is largely due to the ‘discrepancy’ variable, which is found to be highly volatile,” it said.
-IV. Shramik Kalyan [Labour Welfare]
+Former chief statistician Pronab Sen said: “It is a good start but the committee has used some proxies to generate the series so one needs to see how consistent these methods are by themselves.”
-. Social Security for Agricultural and Unorganised Labour
+The statistics office has not yet taken a call on the numbers.
-. Minimum Wages Enforcement (including Farm Labour)
+“These are indicative numbers to decide the approach,” said a statistics ministry official. “These will be sent to the advisory committee on national accounts and based on its approval, we will work on sectoral data.”
-. Prevention of Child Labour
+Officials of Central Statistics Office were also involved in the recommendations made in the report. NR Bhanumurthy, professor at National Institute of Public Finance and Policy (NIPFP) and member of the committee, said the back series is consistent with the new series and would be helpful for research.
-. Welfare of Women Labour
+ONE METHOD The committee has restated the old series using one of the possible three ways--the production shift method. This is different from the method currently followed in compiling GDP data.
-V. Khadya Suraksha [Food Security]
+The committee recommended that the other two methods should be also used to calculate the back series and when these numbers become available then “the time series data based on all the three approaches should be compared for their robustness.”
-. Food security:
+The CSO has already computed the growth rates of GVA/GDP (gross value added/gross domestic product) estimates from 2004-05 to 2011-12 at current and constant prices using the current methodology. These are tentative estimates that need to be deliberated on by the advisory committee on national accounts, the committee noted in its report, and have not yet been presented.
-(i) Targeted Public Distribution system (TPDS)
+===2004-14 vis-à-vis 2014-19===
+[https://www.livemint.com/politics/policy/manmohan-singh-vs-narendra-modi-the-real-india-gdp-growth-story-1555034270688.html  Vivek Kaul, Manmohan Singh vs Narendra Modi: The real India growth story, April 12, 2019: ''Livemint'']
-(ii) Antodaya Anna Yojana (AAY)
-(iii) Below Poverty Line (BPL)
+The quality of India GDP data came into question when GDP growth in FY17 was revised to 8.2%—the highest in any year between FY12 and FY19, despite demonetisation
+GDP growth under Narendra Modi was faster than under Manmohan Singh. The question, though, is: does this pass the basic smell test?
+The quality of India’s economic data in general, and gross domestic product (GDP) data in particular, has come in for questioning in recent months. Those questions only acquired more urgency in January, when the GDP growth in 2016-17 was revised to 8.2%—the highest in any year between 2011-12 and 2018-19.
+In 2016-17, a large section of the informal economy, which forms a significant portion of the Indian economy, was severely hit by demonetisation. Hence, the question: how did the economy grow at 8.2% during the year?
+Between 2009-10 and 2013-14, the period during which Manmohan Singh was the prime minister, the Indian economy grew by 6.7% per year. Between 2014-15 and 2018-19, the Indian economy is supposed to have grown at 7.5% per year. Narendra Modi has been prime minister during this period (from 26 May 2014 onwards).
+Hence, the economic growth during the Modi years has been faster in comparison to the growth during the Manmohan Singh years. The question, though, is: does this pass the basic smell test? One way of figuring this out is to take a look at real-time economic indicators which capture the economic decisions of the average Indian.
+Since January 2015, when India adopted a new way of calculating the GDP, the growth figure has not been in line with high-frequency economic indicators that reflect the economic decisions of individuals. Unlike GDP growth, the economic indicators used here, from domestic car sales to steel output, are real numbers (except inflation) and not theoretical constructs. So, if domestic car sales are growing, it is a reflection of robust urban consumer demand. If steel production is growing, it shows a robust car industry which uses a lot of steel, and a better physical infrastructure that can be used by individuals, among other things.
+Let’s look at 15 economic indicators and see what they suggest. The growth of 11 out of the following 15 economic indicators was better during the second term of Manmohan Singh than Modi’s term. It is worth reminding here that the United Progressive Alliance’s (UPA’s) second term was by all accounts worse than its first term. Hence, we are comparing the worst of Manmohan with the best of Modi.
+'''(1) Domestic two-wheeler sales:''' Motorcycle sales during the Manmohan Singh’s era grew by 12.44% per year. In Modi’s era, growth was at 5.35% per year. Scooter sales during Singh’s era grew by 25.7% per year. In Modi’s era, the growth was at 13.21% per year. Scooters sell more in urban India than rural India. Motorcycles sell in both urban as well as rural India. The growth rate of 5.35% per year in motorcycle sales during the Modi years is indicative of the agricultural distress and, accordingly, the slow rise in the consumption power of rural India as well.
+'''(2) Domestic car sales:''' Car sales are an important indicator of how urban India is feeling on the economic front, because no one forces anyone to buy a car. When an individual buys a car (or a two-wheeler for that matter), he or she feels confident enough to make a down payment and pay an equated monthly instalment on the car loan. Car sales grew at 4.42% per year during the Modi years in comparison to 7.92% during the Manmohan years. The major jump during the Manmohan Singh years came in 2009-10 and 2010-11, when car sales increased by 25.22% and 29.08%, respectively.
+What this again tells us is that urban India, in particular corporate India, has not been very confident on the economic front during the Modi years, irrespective of what they say in public forums. Of course, the growth of cab aggregators Uber and Ola has also played some role in the slowdown of domestic car sales growth in recent years.
+'''(3) Domestic tractor sales:''' This is a good indicator of how rich farmers are feeling on the economic front. During the Modi years, the tractor sales are expected to grow at 4.49% per year. In comparison, tractor sales grew by 15.73% per year during the Manmohan years. This shows the presence of agriculture distress hurting farmers during the Modi years. In fact, domestic tractor sales in 2013-14 had stood at 634,000. The sales fell over the next two years, and in 2015-16 stood at 494,000. Since then, they have recovered to 724,000 during April 2018 to February 2019.
+'''(4) Incremental retail loans growth:''' This is an indicator of how a reasonably large section of the population is feeling about their economic future. People usually take a loan when they are confident enough about repaying it. This may not be true about loans given to the industry but is true about retail loans (i.e. home loans, vehicle loans, etc.), given that the bad loan rate of retail loans stands at just 2%. Bad loans are loans which haven’t been repaid for 90 days or more.
+Retail loans given out by banks during the Modi era are expected to grow at 19.92% per year in comparison to 22.47% per year during the Manmohan era.
+'''(5) Airline passenger traffic:''' This is one point that is perpetually brought up by everyone who believes that the Modi government has done well on the economic front. In the Manmohan years, the number of airline passengers grew by 9.20% per year. It is expected to grow at 15.28% per year during the Modi years.
+'''(6) Passenger revenues of Indian Railways:''' One point which people forget to mention is the fact that the growth in air travel has come at the cost of people upgrading from travelling by Indian Railways. This has led to a slowdown in the growth of passenger revenue of Indian Railways. In the Manmohan years, this was at 10.81% per year. In the Modi years, it is expected to be at 7.32% per year.
+'''(7) Domestic commercial vehicles sales:''' Robust consumer demand should translate into more investment, with companies expanding to cater to the increasing demand. A good way to check whether this is happening or not is to take a look at domestic commercial vehicle sales. Faster sales indicate robust activity on the infrastructure front as well as the industrial front, which ultimately benefits individuals. Commercial vehicles are used to move around finished as well as semi-finished goods.
+During the Modi years, commercial vehicles sales grew at 9.74% per year. In the Manmohan years, they had grown at 10.50% per year. In fact, the growth in commercial vehicles sales during the Modi years has been robust, though it might have been slower than that of Manmohan years. This is primarily on account of the road building programme carried out by the Modi government (as we shall see later).
+'''(8) Cement production:''' Cement production during the Modi years is expected to grow at 4.32% per year against 7.05% per year during the Manmohan era. The cement consumption has grown at a slow pace during the Modi years despite a massive road building programme.
+This essentially tells us two things. First, private sector investment has been slow. Second, the real estate sector, which uses a lot of cement, has been down in the dumps. People aren’t buying new homes. Interestingly, the history of economic development suggests that once people start getting out of agriculture, real estate and construction are the two sectors which they move towards, primarily because both these sectors offer a lot of low-skill jobs. The slow growth in cement production is another indicator that India is not generating enough low-skilled jobs.
+'''(9) Consumption of finished steel:''' Steel consumption is another great indicator of the investment scenario in the country, as the construction of any new infrastructure requires steel. And better infrastructure essentially leads to an improvement in the ease of living of individuals. Data from India Brand Equity Foundation, a trust established by the ministry of commerce and industry, suggests consumption of finished steel is expected to increase 5.18% per year during the Modi era, in comparison to 7.18% per year during the Manmohan era.
+This is indicative of the fact that the investment scenario in India continues to be dull. A dull investment scenario basically means that enough jobs aren’t being created. It also means that the incomes of those who already have jobs are rising at a slower pace.
+'''(10) Income tax growth:''' This is a good indicator of whether the income of individuals working in the formal sector of the economy is growing or not.
+The Modi administration has over the years talked a lot about the income tax collections improving significantly. The income tax collections in the Modi years are expected to grow at 16.85% per year. In comparison, the growth in tax revenue in the Manmohan years was 17.53% per year. The government has also talked about the fact that more people are filing income tax returns now than before. While this is true, this hasn’t exactly translated into faster pace of growth in tax revenue.
+'''(11) Corporation tax growth:''' Companies pay a higher tax when they sell more stuff, and consequently make a higher profit. They sell more when people consume more. People consume more when they are doing well on the financial front. And that’s possible when the overall economy is doing well. During the Modi years, corporation tax collections are expected to grow by 11.20% per year against 13.09% in the Manmohan years.
+'''(12) Consumption of petroleum products:''' The consumption of fuel in an economy which is doing well tends to grow at a faster rate. The consumption of fuel products during the Modi years is expected to grow at 5.91% per year against 3.47% during the Manmohan years. This is another economic indicator that has fared better in the Modi years than the Manmohan years. A simple explanation for this lies in the fact that oil prices were much higher between 2011 and 2014 than they have been since then.
+'''(13) Inflation:''' One of the genuine successes of the Modi government has been on the inflation front. In May 2014, when Narendra Modi took over as prime minister, inflation, as measured by the consumer price index (CPI), stood at 7.72%, with food inflation at 9.21%. In February 2019, inflation was at 2.57%, with food prices falling by 0.66%. During 2018-2019, food prices have risen by just 0.13%.
+On the flip side, the lack of food inflation is hurting farmers.
+'''(14) Household financial savings:''' This is an indicator which tells us how much people are saving. The problem, in this case, is that data is available only from 2011-12 onwards, which is what we will consider. The gross household financial savings when Manmohan Singh was the prime minister grew at 13% per year. In the Modi years (up to 2017-18) they grew by 11.94% per year. As far as net household financial savings (gross household financial savings minus the financial liabilities of households) are concerned, they grew by 13.79% per year in the Manmohan years. In comparison, they grew by 7.38% per year during the Modi years (up to 2016-17).
+'''(15) Road construction:''' This is another area where the Modi government has done significantly better than the Manmohan Singh government. As of 31 March 2009, the total length of national highways stood at 70,548 kilometres (km). By 31 March 2014, this had increased to 91,287km, at the rate of 5.29% growth per year. By March 2019, the length of national highways is expected to touch 135,676km, with 10,000km of road expected to be constructed during 2018-19. This means an increase of 8.25% per year. Between April and December, 6,715km had already been built.
+To conclude, the Manmohan Singh years come out to be much better than the Modi years, in 11 out of the 15 indicators.
+This essentially brings us back to the question: When so many economic indicators grew faster in the second term of Manmohan Singh vis a vis the first term of Modi, why doesn’t this reflect in the GDP growth figures of the two eras? The Modi years growing at a faster pace than the second term of Manmohan doesn’t make much sense.
+==2012-16: fastest growth in 5 years==
+[http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=Eco-grows-fastest-in-5-years-at-76-01062016027021 ''The Times of India''], Jun 01 2016
+[[File: Economic growth, trends, 2012-16.jpg|Economic growth, trends, 2012-16; Graphic courtesy: [http://epaperbeta.timesofindia.com/Gallery.aspx?id=01_06_2016_001_034_002&type=P&artUrl=5-YR-HIGH-FOR-INDIAN-ECONOMY-01062016001034&eid=31808 ''The Times of India''], June 1, 2016|frame|500px]]
+'''Eco grows fastest in 5 years at 7.6%'''
+The country's economy grew 7.6% in 2015-16, the fastest in five years, while growth in the fourth quarter clocked 7.9%, keeping India ahead as the fastest growing major economy in the world.
+The GDP data also brought cheers for the government, which has completed two years in office and is showcasing revival of the economy as a major achievement. India's 7.9% expansion in JanuaryMarch (fastest in six quarters) is higher than China's 6.7% expansion in the same quarter.In October-December quarter Indian economy grew 7.2%.Growth was powered by strong expansion in the manufacturing, which grew 9.3% in 2015-16 compared to 5.5% in 2014-15 and the farm sector, which clocked a growth of 1.2% in 2015-16 compared to a contraction of 0.2% in the previous year. The growth in the farm sector was despite the impact of a drought. Policy makers lauded the improving health of public finances. “.. India continues to remain a bright spot in the world economy with robust macro-economic and fiscal parameters,“ the finance mini stry said in a statement. Economist said they expect a good monsoon to support improving growth in the months ahead.
+[[File: Indian economy, Some facts regarding GDP, Foreign investment, Domestic infrastructure.jpg|Indian economy: Some facts regarding GDP, Foreign investment, Domestic infrastructure: Graphic courtesy: [http://m.thehindu.com/business/Economy/1991present-tracking-progress-in-numbers/article8891883.ece ''The Hindu''], July 24, 2016|frame|500px]]
+[[File: Economic indicators, India, Sensex, Exchange rate, Gross National Product, GDP growth, Forex Reserves, WPI inflation and 10 year gilt yield.jpg|Economic indicators, India: Sensex, Exchange rate, Gross National Product, GDP growth, Forex Reserves, WPI inflation and 10 year gilt yield; Graphic courtesy: [http://epaperbeta.timesofindia.com/Gallery.aspx?id=21_08_2016_017_006_003&type=P&artUrl=Stocks-to-gain-but-bonds-may-slide-21082016017006&eid=31808 ''The Times of India''], August 21, 2016|frame|500px]]
+[[File: Real GDP, CPI, WPI, Bank Credit, Expenditure, Current Account Deficit, Repo Rate, 2011-15.jpg|Real GDP, CPI, WPI, Bank Credit, Expenditure, Current Account Deficit, Repo Rate, 2011-15; Graphic courtesy: [http://indiatoday.intoday.in/story/economy-budget-arun-jaitley-narendra-modi-government/1/587099.html ''India Today''], February 15, 2016|frame|500px]]
+[[File: Life expentency at birth, Infant mortality, Access to improved sanitation, Mean year of schooling, Female literacy rate, Male literacy rate, 2010,2011.jpg|Life expentency at birth, Infant mortality, Access to improved sanitation, Mean year of schooling, Female literacy rate, Male literacy rate, 2010,2011; Graphic courtesy: [http://epaperbeta.timesofindia.com//Article.aspx?eid=31808&articlexml=ECONOMIC-GIANT-BECOMING-SOCIAL-PYGMY-02032016016019 ''The Times of India''], March 2, 2016|frame|500px]]
+[[File: Income inequalities in India with respect to taxpayers1.jpg|Income inequalities in India with respect to taxpayers; Graphic courtesy: [http://epaperbeta.timesofindia.com//Gallery.aspx?id=01_03_2016_005_023_001&type=P&artUrl=INCOME-INEQUALITY-IN-INDIA-IS-THIS-BAD-01032016005023&eid=31973 ''The Times of India''], March 1, 2016|frame|500px]]
+[[File: Income inequalities in India with respect to taxpayers2.jpg| Income inequalities in India with respect to taxpayers; Graphic courtesy: [http://epaperbeta.timesofindia.com//Gallery.aspx?id=01_03_2016_005_023_001&type=P&artUrl=INCOME-INEQUALITY-IN-INDIA-IS-THIS-BAD-01032016005023&eid=31973 ''The Times of India''], March 1, 2016|frame|500px]]
+[[File: The Indian economy vis-à-vis the Chinese economy in terms of GDP.jpg| The Indian economy vis-à-vis the Chinese economy in terms of GDP; Graphic courtesy: [http://epaperbeta.timesofindia.com//Article.aspx?eid=31973&articlexml=IN-1990-INDIAS-ECONOMY-WAS-ALMOST-AS-LARGE-01032016015011 ''The Times of India''], March 1, 2016|frame|500px]]
+[[File: The Indian economy vis-à-vis the Chinese economy.jpg| The Indian economy vis-à-vis the Chinese economy; Graphic courtesy: [http://epaperbeta.timesofindia.com//Gallery.aspx?id=01_03_2016_014_005_002&type=P&artUrl=INDIAN-ECONOMY-IS-MORE-GLOBALISED-THAN-CHINA-AND-01032016014005&eid=31973 ''The Times of India''], March 1, 2016|frame|500px]]
+“With renewed forecast of more than normal monsoon this year, the situation in agriculture is expected to improve significantly , which will eventually lead to revival of consumption demand, especially in rural areas,“ said Madan Sabnavis, chief economist at Care Ratings.
+“This in turn should also boost investment sentiment and keep food inflation under control. Also implementation of various government schemes and 7th Pay Commission will have an important bearing. With continued strong performance of the service sector, GDP growth in FY17 should see strong contributions from each sector of the economy . We expect GDP growth in FY17 to be around 7.8%,“ he said.
+But the numbers also showed some weak spots such as sluggish investment growth.
+“Private consumption has emerged as the bulwark of economy in 2015-16, whereas investment growth has slowed.With excess capacity and high leverage, private consumption demand will have to rise further to pare excess capacity and encourage private investment. With normal monsoon, a mild kick to public sector wages and improved transmission of interest rates, private consumption demand is set to get a boost in 2016-17,“ said D K Joshi, chief economist at Crisil.
+==2014-16: Economic indicators==
+'''See graphic'''
+''Economy, GDP growth, fiscal deficit, industrial growth, inflation and growth in agriculture, forestry and fishing, 2014-17''
+[[File: Economy, GDP growth, fiscal deficit, industrial growth, inflation and growth in agriculture, forestry and fishing, 2014-17.jpg|GDP growth, fiscal deficit, industrial growth, inflation and growth in agriculture, forestry and fishing, 2014-17; Graphic courtesy: [http://www.thehindubusinessline.com/economy/economy/article9512876.ece ''The Hindu Business Line''], Feb 1, 2017|frame|500px]]
+==Facts about Indian economy==
+===2015-16===
+[[http://indiabudget.gov.in/es2016-17/efactindia.pdf The Economic Survey: 2016-17]]
+'''Indians on The Move'''
+[[File: Annual new migrants (in millions), 2011-16, year-wise.jpg|Annual new migrants (in millions), 2011-16, year-wise; [[http://indiabudget.gov.in/es2016-17/efactindia.pdf The Economic Survey: 2016-17]]|frame|500px]]
+New estimates based on railway passenger traf c data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests.
+'''Biases in Perception'''
+China’s credit rating was upgraded from A+ to AA- in December 2010 while India’s has re- mained unchanged at BBB-. From 2009 to 2015, China’s credit-to-GDP soared from about 142 percent to 205 percent and its growth decelerated. The contrast with India’s indicators is striking.
+'''New Evidence on Weak Targeting of Social Programs'''
+Welfare spending in India suffers from misallocation: as the pair of charts show, the districts with the most poor (in red on the left) are the ones that suffer from the greatest shortfall of funds (in red on the right) in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.
+'''Political Democracy but Fiscal Democracy?'''
+India has 7 taxpayers for every 100 voters ranking us 13th amongst 18 of our democratic G-20 peers.
+'''India's Distinctive Demographic Dividend'''
+India’s share of working age to non-working age population will peak later and at a lower level than that for other countries but last longer. The peak of the growth boost due to the demographic dividend is fast approaching, with peninsular states peaking soon and the hinterland states peaking much later.
+'''India Trades More Than China and a Lot Within Itself'''
+As of 2011, India’s openness - measured as the ratio of trade in goods and services to GDP has far overtaken China’s, a country famed for using trade as an engine of growth. India’s internal trade to GDP is also comparable to that of other large countries and very different from the caricature of a barrier-riddled economy.
+'''Divergence within India, Big Time'''
+Spatial dispersion in income is still rising in India in the last decade (2004-14), unlike the rest of the world and even China. That is, despite more porous borders within India than between countries internationally, the forces of “convergence” have been elusive.
+'''Property Tax Potential Unexploited'''
+Evidence from satellite data indicates that Bengaluru and Jaipur collect only between 5% to 20% of their potential property taxes.
+===2015-16: economy grew 7.9%===
+[http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=Eco-grew-79-in-15-16-faster-than-01022017025042  Eco grew 7.9% in '15-16, faster than estimated 7.6%, Feb 01 2017: The Times of India]
+[[File: GDP growth, 2012-17 and fiscal deficit, 2013-17.jpg|GDP growth, 2012-17 and fiscal deficit, 2013-17; [http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=Eco-grew-79-in-15-16-faster-than-01022017025042  Eco grew 7.9% in '15-16, faster than estimated 7.6%, Feb 01 2017: The Times of India]|frame|500px]]
+The Central Statistics Office (CSO) said the economy grew by 7.9% in 2015-16, a shade faster than previously estimated 7.6%, on account of better perfor mance by the farm and industrial sectors. CSO, however, left the figure for 2014-15 unchanged at 7.2%.
+The revised growth rate would be the fastest pace of expansion for the economy in five years as data for the new series introduced in 2011-12 is available now. It would give the government ammunition to counter the Opposition's charge that the NDA's handling of the economy has slowed down the growth rate.
+CSO had said that the economy was estimated to grow 7.1% during the current financial year but did not factor in the impact of demonetisation. The Economic Survey , released on Tuesday , however, indicated that the growth rate could slip to 6.5% due to the cash squeeze.
+Higher growth rate would push up the base and could result in a further slowdown during the current finnacial year. It would, however, help the government show a better fiscal performance since the base has expanded.
+Separate data showed the fiscal deficit up to December-end has touched 94% of the full year estimate of Rs 5.3 lakh crore.Fiscal deficit during April-December 2015 was estimated at 88% of the budget estimate.
+=== …vs. 2008-18 (GDP), 2018 (inflation), 2013-18 (deficit)===
+[[File: The Indian economy in 2019-20 vis-à-vis 2008-18 (GDP growth), 2018 (inflation) and 2013-18 (fiscal deficit)..jpg|The Indian economy in 2019-20 vis-à-vis 2008-18 (GDP growth), 2018 (inflation) and 2013-18 (fiscal deficit). <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIM%2F2020%2F02%2F01&entity=Ar02410&sk=2CA57C3B&mode=image  February 1, 2020: ''The Times of India'']|frame|500px]]
+'''See graphic''':
+'' The Indian economy in 2019-20 vis-à-vis 2008-18 (GDP growth), 2018 (inflation) and 2013-18 (fiscal deficit). ''
+[[Category:Economy-Industry-Resources|E
+ECONOMY: INDIA 1]]
+[[Category:Government|E
+ECONOMY: INDIA 1]]
+[[Category:India|E
+ECONOMY: INDIA 1]]
+==The economy as in 2017==
+[http://timesofindia.indiatimes.com/business/economic-survey/economic-survey-7-interesting-facts-about-india/listshow/56892884.cms The Times of India], January 31, 2017
+For the first time, along with a host of numbers and dry facts, the Economic Survey presented today also highlighted seven curious things about India, ranging from a perception bias against it to a fiscal disparity within it.
+.
+'''Indians on the move'''
+New estimates based on railway passenger traffic data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests.
+.
+'''Biases in perception'''
+China's credit rating was upgraded from A+ to AA- in December 2010 while India's has remained unchanged at BBB-. From 2009 to 2015, China's credit-to-GDP soared from about 142 percent to 205 percent and its growth decelerated. The contrast with India's indicators is striking.
+.
+'''New evidence on weak targeting of social programs'''
+The Survey says that welfare spending in India suffers from misallocation. Districts with the most poor are the ones that suffer from the greatest shortfall of funds in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.
+.
+'''Narrow tax base'''
+India has seven taxpayers for every 100 voters, ranking us 13th amongst 18 of our democratic G-20 peers.
+.
+'''India trades more than China'''
+As of 2011, India's openness - measured as the ratio of trade in goods and services to GDP - has far overtaken China's. India's internal trade is also comparable to that of other large countries.
+.
+'''India's distinctive demographic dividend'''
+There will a steady rise in India's working age population. While it will be slower compared to other countries, it is expected to last for much longer. Peninsular states are fast approaching the peak of the growth boost due to the demographic dividend.
+.
+'''Income divergence within India'''
+During the last decade (2004-14), spatial dispersion in income has been on the rise in India, unlike the rest of the world and even China. Despite more porous borders within India than between countries internationally, the geographical graph of per capita income is skewed.
+==2012-18: impact of GST on manufacturing==
+[[File: 2012-18- The impact of GST on manufacturing.jpg| 2012-18: The impact of GST on manufacturing <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F09%2F03&entity=Ar01722&sk=B5A31E15&mode=text  September 3, 2018: ''The Times of India'']|frame|500px]]
+'''See graphic''':
+''2012-18- The impact of GST on manufacturing''
+==Economic indicators: 2012-14 vs. 2014-17==
+'''See graphics''':
+. ''GDP growth, 2011-17, year-wise and % annual rise in per capita income at current prices, 2012-17, year-wise''
+. ''Inflation dynamics, 2011-17, year-wise and merchandise exports, 2011-17, FDI inflows, 2013-17, Industrial production, 2012-17, year-wise''
+. ''Fiscal deficit, 2011-17, total tax revenue, 2012-17, fluctuations in stock market (BSE), 2011-17, year-wise''
+[[File: GDP growth, 2011-17, year-wise and % annual rise in per capita income at current prices, 2012-17, year-wise.jpg|GDP growth, 2011-17, year-wise and % annual rise in per capita income at current prices, 2012-17, year-wise; [http://epaperbeta.timesofindia.com/Gallery.aspx?id=26_05_2017_018_005_011&type=P&artUrl=Three-Cheers-Modi-Has-Much-To-Celebrate-26052017018005&eid=31808 The Times of India], May 26, 2017|frame|500px]]
+[[File: Inflation dynamics, 2011-17, year-wise and merchandise exports, 2011-17, FDI inflows, 2013-17, Industrial production, 2012-17, year-wise.jpg|Inflation dynamics, 2011-17, year-wise and merchandise exports, 2011-17, FDI inflows, 2013-17, Industrial production, 2012-17, year-wise; [http://epaperbeta.timesofindia.com/Gallery.aspx?id=26_05_2017_018_005_011&type=P&artUrl=Three-Cheers-Modi-Has-Much-To-Celebrate-26052017018005&eid=31808 The Times of India], May 26, 2017|frame|500px]]
+[[File: Fiscal deficit, 2011-17, total tax revenue, 2012-17, fluctuations in stock market (BSE), 2011-17, year-wise.jpg|Fiscal deficit, 2011-17, total tax revenue, 2012-17, fluctuations in stock market (BSE), 2011-17, year-wise; [http://epaperbeta.timesofindia.com/Gallery.aspx?id=26_05_2017_018_005_011&type=P&artUrl=Three-Cheers-Modi-Has-Much-To-Celebrate-26052017018005&eid=31808 The Times of India], May 26, 2017|frame|500px]]
+==Indicators 2013-18 (inflation, monsoons, crude prices)==
+[[File: Inflation in India (CPI)- 2013-18; Performance of monsoons, 2008-17; Value of rupee, Jan- June, 2018; Crude oil prices, 2013-18.jpg|i) Inflation in India (CPI): 2013-18;  <br/> ii) Performance of monsoons, 2008-17; <br/> iii) Value of rupee, Jan- June, 2018; <br/> iv) Crude oil prices, 2013-18 <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F06%2F08&entity=Ar02207&sk=F51556D9&mode=text  June 8, 2018: ''The Times of India'']|frame|500px]]
+'''See graphic''':
+''i) Inflation in India (CPI): 2013-18;  <br/> ii) Performance of monsoons, 2008-17; <br/> iii) Value of rupee, Jan- June, 2018; <br/> iv) Crude oil prices, 2013-18''
+==2014, May- 2018, May==
+[[File: Four years of Modi government an economic report card.jpg|Four years of Modi government an economic report card <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F05%2F26&entity=Ar03020&sk=894DF94B&mode=text  May 26, 2018: ''The Times of India'']|frame|500px]]
+'''See graphic''':
+''Four years of Modi government an economic report card''
+==2014, May- 2019 Jan==
+=== For individual Indians===
+[[File: 2014, May- 2019 Jan- an economic report card for individual Indians- i) Income;  ii)Spending.jpg|2014, May- 2019 Jan- an economic report card for individual Indians- <br/> i) Income; <br/>  ii) Spending <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F02%2F02&entity=Ar00801&sk=D9F71FF2&mode=image  February 2, 2019: ''The Times of India'']|frame|500px]]
+[[File: 2014, May- 2019 Jan- an economic report card for individual Indians- iii) Investment;  iv) Wealth from stock market.jpg|2014, May- 2019 Jan- an economic report card for individual Indians- <br/> iii) Investment;  <br/> iv) Wealth from stock market <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F02%2F02&entity=Ar00801&sk=D9F71FF2&mode=image  February 2, 2019: ''The Times of India'']|frame|500px]]
+[[File: 2014, May- 2019 Jan- an economic report card for individual Indians- v) Falling inflation;  vi) A connected life and vii) healthier and more literate.jpg|2014, May- 2019 Jan- an economic report card for individual Indians- <br/> v) Falling inflation;  <br/> vi) A connected life and <br/> vii) healthier and more literate <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F02%2F02&entity=Ar00801&sk=D9F71FF2&mode=image  February 2, 2019: ''The Times of India'']|frame|500px]]
+'''See graphics''':
+'' 2014, May- 2019 Jan- an economic report card for individual Indians- <br/> i) Income;  <br/> ii)Spending ''
+''2014, May- 2019 Jan- an economic report card for individual Indians- <br/> iii) Investment; <br/> iv) Wealth from stock market''
+''2014, May- 2019 Jan- an economic report card for individual Indians- <br/> v) Falling inflation;  <br/> vi) A connected life and <br/> vii) healthier and more literate''
+===For the country as a whole===
+[[File: 2014, May- 2019 Jan- an economic report card for the country as a whole.jpg| 2014, May- 2019 Jan: an economic report card for the country as a whole <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F02%2F02&entity=Ar00901&sk=D3CDA767&mode=image   February 2, 2019: ''The Times of India'']|frame|500px]]
+'''See graphic''':
+''2014, May- 2019 Jan: an economic report card for the country as a whole''
+==Oct 2016- Jan 2018: industry, manufacturing, inflation==
+[[File: Oct 2016- Jan 2018- industrial output, manufacturing, and retail inflation in India .jpg|Oct 2016- Jan 2018: industrial output, manufacturing, and retail inflation in India  <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F02%2F13&entity=Ar02220&sk=4210311F&mode=text  Retail prices ease, factory output beats expectations, February 13, 2018: ''The Times of India'']|frame|500px]]
+[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F02%2F13&entity=Ar02220&sk=4210311F&mode=text  Retail prices ease, factory output beats expectations, February 13, 2018: ''The Times of India'']
+Retail inflation cooled in January on the back of slowing food prices, while industrial output growth in December was better than expected, thanks to robust manufacturing and capital goods sectors.
+Data released by the Central Statistics Office (CSO) on Monday showed inflation, as measured by the consumer price index (CPI), rose an annual 5.1% in January, slower than previous month’s 5.2%. Consumer food prices also cooled and increased 4.7%, lower than near 5% increase in December. Housing prices remained firm, and surged 8.3% during the month.
+Earlier this month, RBI kept interest rates unchanged and flagged risks to inflation from several factors, including the government missing the fiscal deficit target for 2017-18. Economist said inflation in non-food items continues to be worrisome, with clothing and footwear
+(4.7%), housing (8.3%), fuel
+(7.7%) household goods
+(4.9%), all being high.
+“However, elevated fuel prices and the base effect will keep CPI inflation in the vicinity of 5% for the rest of the year till March,” said Madan Sabnavis, chief economist at Care Ratings, adding that cooling food prices will have a calming effect on retail inflation.
+Separate data released by the CSO showed industrial output growth rose 7.1% in December, slower than previous month’s upwardly revised 8.4% but still higher than market expectations. The manufacturing sector rose an annual 8.4% in December, compared to 0.6% in same month last year.
+Several data sets in the past few months have pointed to a revival in the manufacturing sector as it shrugs off the impact of demonetization and rollout issues linked to the GST. Economist said the robust trend in factory output augured well for overall growth.
+“Higher growth in vehicles and transport bodes well for the economy. We expect IIP growth to trend higher in January also as commercial vehicle sales have expanded by 36.6%. The positive contribution of cement, diesel and even two wheelers augurs well for economic recovery, especially for rural economy,” said Soumya Kanti Ghosh, group chief economic adviser at SBI.
+==2016 Nov-2018 Dec==
+[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F02%2F09&entity=Ar02905&sk=947D9039&mode=text  View within RBI: Rate cut needed now, inflationary fear not a worry, February 9, 2019: ''The Times of India'']
+[[File: The RBI’s real-time analysis (in Feb 2019) of inflation, consumer confidence, capacity utilisation and employment, 2016 Nov-2018 Dec.jpg| The RBI’s real-time analysis (in Feb 2019) of inflation, consumer confidence, capacity utilisation and employment, 2016 Nov-2018 Dec <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F02%2F09&entity=Ar02905&sk=947D9039&mode=text  View within RBI: Rate cut needed now, inflationary fear not a worry, February 9, 2019: ''The Times of India'']|frame|500px]]
+The Monetary Policy Committee (MPC) headed by RBI governor Shaktikanta Das has opted to pare key policy rates based on real-time analysis, leaning on findings of its surveys, prevailing market conditions and extensive consultations with stakeholders, instead of postponing a decision for fear of inflationary pressures flaring up.
+Although Urjit Patel had not explicitly changed the monetary policy stance in his last policy announcement in December, the assessment was that the governor, who resigned later in the month, was dovish in his stance. Besides, the RBI’s inflation modelling has been under scrutiny for the last 18 months and critics have faulted the central bank for misreading the inflation situation.
+While deputy governor Viral Acharya acknowledged the problems, he said the RBI has sought to fix them. “We started a little bit of grassroots work. We are talking to agri specialists, agri economists in the country to get a better sense. So, hopefully, we’ll get better with time. Not to mention we have had extensive consultations with a lot of experts over the last two months or so, and the effort is to fine tune the system as much as possible.”
+Apart from retail inflation, which was estimated at 2.2%, the RBI’s internal survey showed that inflationary expectations were well-anchored. Although oil price pressure has remained for the last few months, agriculture economists reckon that food inflation will remain benign, especially in the wake of a good winter. In fact, Das pointed to higher wheat yield this year due to favourable weather conditions.
+The other positive that weighed on the MPC was an improvement in consumer confidence as well as business confidence, amid an improvement in capacity utilisation by industry. In fact, there are pockets in the manufacturing space where capacity constraints have started to emerge and a lower interest rate is expected to help provide a boost to investment and bridge this gap in the coming months. With buyer sentiment improving, demand in several other sectors is expected to rise.
+The consumer confidence survey suggests that respondents expect an improvement on almost all counts. The only exception is income, where the sentiment seemed to sour a little in December, compared to the previous month. But, they are upbeat on investment, employment and income a year down the line.
+Similarly, on business expectations, more respondents now believe that there will be an improvement across the board — from production, to order book and capacity utilisation — with selling price and employment being two parameters on which they were less upbeat than the previous survey.
+==2017 Q4> 2019 Q1: growth==
+[https://timesofindia.indiatimes.com/business/india-business/india-only-major-asian-nation-thats-growing-its-export-share/articleshow/70482360.cms  August 1, 2019: ''The Times of India'']
+In trade war, India only Asian nation growing export share
+NEW DELHI: The only major Asian economy that’s grown its export share since the start of the tariff wars in 2018 is the one with the fewest trade links to China.
+India’s share of world exports rose to 1.71% in the first quarter of 2019 from 1.58% in the fourth quarter of 2017, data compiled by Bloomberg show. The share of every other economy among Asia’s 10 biggest exporting nations fell in the same period.
+Part of the reason for India’s outperformance is that it’s not as integrated into global manufacturing supply chains as peers, which means exporters are cushioned from rising trade tensions in the region.
+It’s a sentiment that was flagged by Reserve Bank of India (RBI) governor Shaktikanta Das in a recent interview.
+“India is not part of the global value chain,” he said. “So, US-China trade tension does not impact India as much as several other economies.”
+China is the biggest buyer of goods from South Korea and Japan, whose share of world exports have fallen the most in Asia. For India, China is the third-largest market, after the US and the UAE.
+“Our biggest advantage is that our product basket and market basket are both quite diversified,” said Rakesh Mohan Joshi, a professor at the Indian Institute of Foreign Trade in Delhi.
+Trade tensions between the US and China have given India an opportunity to ramp up exports to both countries, according to Ajay Sahai, director general and chief executive officer of the Federation of Indian Export Organisations.
+India’s exports to the US grew at the fastest pace in six years in the year ended March 2018, while exports to China surged 31%, the second highest annual pace of growth in more than a decade, data from ministry of commerce show.
+“China is more willing to give market access to India than ever before,” said Sahai, pointing to increased access for products such as rice, fruits and vegetables, with potential for greater exports of pharmaceuticals and automobile components to China.
+On the other hand, India’s exports to the US could lose momentum. US President Donald Trump has criticised India for its tariffs on US products, and withdrew trade concessions on $6.3 billion of Indian goods on June 1. India responded with higher tariffs on about 30 American products.
+India’s relative immunity from trade tensions could be coming to an end. Exports plunged 9.7% in June from a year ago, the biggest decline in more than three years.
+==2017-18: rural demand slumps to lowest since 1973==
+[https://www.ndtv.com/business/consumer-spending-news-rural-consumer-demand-slumps-to-4-decade-low-report-2133039  Nov 15, 2019: ''NDTV'']
+''' Rural Consumer Demand Slumps To 4-Decade Low: Report '''
+Consumer spending in the country's rural areas has plummeted to a four-decade low, a leading business daily reported, bringing more bad news for Prime Minister Narendra Modi's government that is struggling to revive a stuttering economy.
+Consumer demand in villages fell 8.8 per cent between July 2017 and June 2018 - the sharpest 12-month drop since 1972-73, the Business Standard reported, using unpublished data recorded by the National Statistical Office (NSO).
+Two-thirds of the 130 crore population live in rural areas, making it a key economic driver. But spending on food, education and clothing declined, with demand for essential items such as cereals plunging 20 per cent, the newspaper said.
+The report should have been released in June, but was pushed back because of its "adverse" findings, Business Standard said citing sources familiar with the matter.
+A government official told AFP the report was not finished.
+"The NSO report is still under processing and not validated, and many officials are not privy to the data," said AK Mishra of the ministry of statistics.
+The data "can only be confirmed once the ministry publishes the report", Mr Mishra added.
+If the findings are confirmed, it would ring yet another alarm bell over Asia's third-largest economy, which has endured five consecutive quarters of slowing growth.
+In January, Business Standard reported that unemployment had surged to a four-decade high during PM Modi's first term in power, citing unpublished data from the ministry.
+The delay in releasing the jobs report prompted a top government statistician to quit in protest. The report confirming the joblessness data was finally released in May, after PM Modi was re-elected with a thumping majority.
+Congress leader Rahul Gandhi attacked the government over the new report, accusing it of trying to bury unflattering data. "Modinomics stinks so bad, the government has to hide its own reports," he tweeted.
+To counter the fall in demand for everything from cars to cookies, the central bank has trimmed interest rates five times in a row, but to little effect.
+Experts say India's economy has never recovered from PM Modi's surprise cash ban in 2016, which made 86 percent of the currency in circulation void.
+The rollout of a nationwide Goods and Services Tax (GST) in July 2017 added to the crisis as businesses struggled to adjust to the new rules, say experts.
+Comments In October, market researcher Nielsen said rural consumption had slumped to a seven-year low, highlighting falling income for farmers who are struggling with mounting debt.
+===Govt does not release consumer expenditure survey, 2017-18===
+[https://timesofindia.indiatimes.com/india/data-quality-issues-govt-wont-release-consumer-expenditure-survey-2017-18/articleshow/72074843.cms  Nov 15, 2019: ''The Times of India'']
+NEW DELHI: The government said that it would not release the Consumer Expenditure Survey results of 2017-18 because of "data quality issues".
+The Ministry of Statistics and Programme Implementation junked a media report citing a fall in consumption expenditure for the first time in more than four decades, saying that the ministry follows a rigorous "data vetting" process before releasing such reports.
+"All such submissions which come to the Ministry are draft in nature and cannot be deemed to be the final report," it said in a statement.
+The release said that results of the survey were examined and it was noted that there was a significant increase in the divergence in not only the levels in the consumption pattern but also the direction of the change when compared to the other administrative data sources like the actual production of goods and services.
+"Concerns were also raised about the ability/sensitivity of the survey instrument to capture consumption of social services by households especially on health and education," it said.
+The National Satistical Office has referred the matter to a committee of experts which noted the discrepancies and came out with several recommendations including refinement in the survey methodology and improving the data quality aspects on a concurrent basis.
+"The recommendations of the committee are being examined for implementation in future surveys," the release said.
+The NSS Consumer Expenditure Survey generates estimates of household monthly per capita consumer expenditure (MPCE) and the distribution of households and persons over the MPCE classes.
+It said the Ministry is separately examining the feasibility of conducting the next Consumer Expenditure Survey in 2020-2021 and 2021-22 after incorporating all data quality refinements in the survey process.
+The Consumer Expenditure Survey (CES) is usually conducted at quinquennial intervals and the last survey on consumer expenditure was conducted in the 68th round (July 2011 to June 2012).
+It is designed to collect information regarding expenditure on the consumption of goods and services (food and non-food) consumed by households. The results, after release, are also used for rebasing of the GDP and other macro-economic indicators.
-(iv) Establishing Grain banks in chronically food scarcity areas
+''' Congress slams government '''
-VI. Subke Liye Aawas [Housing for All]
+Senior Congress leader Jairam Naresh lashed out at the government for not releasing the report.
-. Rural Housing - Indira Awaas Yojana
+Congress spokesperson Pawan Khera said at a press conference here that leaked report shows that the person who spent Rs 1501 in a month in 2011-12 was spending Rs 1446 in 2017-18.
-. EWS/LIG Houses in Urban Areas
+He said the fall in spending was 8.8 per cent in rural India. "This is a serious issue. Rural India was spending Rs 643 in a month in 2011-12, it is spending Rs 580 in 2017-18," he alleged.
-VII. Shudh Peya Jal [Clean Drinking Water]
+Khera said that a committee of statistics department had cleared the data to be released in June this year but the "government did not allow it".
-. Rural Areas: Accelerated Rural Water Supply Programme
+Congress leaders Rahul Gandhi and Priyanka Gandhi Vadra also targeted the government on the issue.
-. Urban Areas: Accelerated Urban Water Supply Programme
+Priyanka Gandhi alleged in tweets that consumer spending has collapsed.
-VIII. Jan Jan Ka Swasthya [Health for All]
+"Successive govts have striven tirelessly to combat poverty and empower the people. This govt is making history by driving people into poverty: while rural India faces the dire consequences of their policies, the BJP ensures that their corporate friends become richer by the day. Usually, governments work towards eradicating poverty, not towards eliminating data," she said.
-. Control and prevention of major diseases:
+Earlier today, Rahul Gandhi had tweeted — "Modinomics stinks so bad, the government has to hide its own reports.”
-(a) HIV/AIDS (b) TB (c) Malaria (d) Leprosy (e) Blindness
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-. National Rural Health Mission
+==2018 Aug vs. June: mixed trends==
+[[File: The growth of the Indian economy, June, July, Aug 2018- Passenger vehicles, Commercial vehicles, CIL output, Non-oil export.jpg|The growth of the Indian economy, June, July, Aug 2018: Passenger vehicles, Commercial vehicles, CIL output, Non-oil export <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIM%2F2018%2F10%2F01&entity=Ar02001&sk=C6C8F32F&mode=image  October 1, 2018: ''The Times of India'']|frame|500px]]
-. Immunisation of Children
+[[File: The growth of the Indian economy, June, July, Aug 2018- Rail freight, Airlines, Petrol, Bank deposits, Non-food bank credit.jpg|The growth of the Indian economy, June, July, Aug 2018: Rail freight, Airlines, Petrol, Bank deposits, Non-food bank credit <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIM%2F2018%2F10%2F01&entity=Ar02001&sk=C6C8F32F&mode=image  October 1, 2018: ''The Times of India'']|frame|500px]]
-. Sanitation Programme in
+'''See graphics''':
-- Rural Areas
+''The growth of the Indian economy, June, July, Aug 2018: Passenger vehicles, Commercial vehicles, CIL output, Non-oil export''
-- Urban areas
+''The growth of the Indian economy, June, July, Aug 2018: Rail freight, Airlines, Petrol, Bank deposits, Non-food bank credit''
-. Institutional Delivery
+==2018 to 19: growth declines==
+[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F08%2F02&entity=Ar00201&sk=B639E51E&mode=image  August 2, 2019: ''The Times of India'']
-. Prevention of Female Foeticide
+[[File: 2018 to 19, Five reasons why the economy slowed down.jpg|2018 to 19: Five reasons why the economy slowed down <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F08%2F02&entity=Ar00201&sk=B639E51E&mode=image  August 2, 2019: ''The Times of India'']|frame|500px]]
-. Supplementary nutrition Mothers and Children
+'''See graphic''':
-. Two Child Norm
+'' 2018 to 19: Five reasons why the economy slowed down ''
-IX. Sabke Liye Shiksha [Education for All]
+===2018-19: The main trends===
+[https://timesofindia.indiatimes.com/business/india-business/rbi-shows-good-bad-ugly-side-of-indias-economy/articleshow/70905205.cms  Rupali Mukherjee, August 30, 2019: ''The Times of India'']
-. Sarv Shiksha Abhiyan
+Real estate is the most preferred investment asset class for high net-worth individuals (HNIs) in next 3 years, followed by stock markets, according to the Hurun Indian Luxury Consumer Survey. This is despite the slowdown in real estate witnessed over the last three years, and turbulence in stock markets over the past 18 months. This is the first year of an India survey by Hurun Research Institute, which aims to track changes and preferences of lifestyle, consumption habits and brand cognition of HNIs.
-. Mid Day Meal Scheme
+Around 31% respondents believe that their investment allocation towards real estate sector will grow in the next two years. In line with IMF’s prediction of economic growth, equity markets followed by fixed income is the second and third choice, respectively. Interestingly, 21% respondents want to reduce allocation to real estate in the short term, and around 20% want to reduce exposure to gold. While 9.5% said investments into real estate will be at a status quo, the remainder believed that it would decline.
-X. Anusuchit Jaati, Jan Jaati, Alp-sankhyak evam Anya Pichhre Varg
+The UK is the most popular investment destination for HNIs. Singapore takes second place, and Canada along with the US, which is forecast to grow 2-4% (at constant exchange rates this year), rank third. Nearly a fourth (24%) are “very confident” about the Indian economy over the next three years, 40% “confident”, while around 36% are pessimistic. As many as 36% of HNIs said their investment philosophy for this year would be “avoiding risk”, while only 14% will make “active investments”.
-Kalyan [Welfare of Scheduled Castes, Scheduled Tribes, Minorities
-and OBCs]
-. SC Families Assisted
+Among collectibles, HNIs prefer to spend the most on art and jewellery. Nearly half the respondents have two to three cars, 37% have only one car and 6% have more than five cars. Up to 46% of them renew their car every three to four years.
-. Rehabilitation of Scavengers
+===How serious is India’s economic slowdown?===
+[https://timesofindia.indiatimes.com/business/india-business/how-serious-is-indias-economic-slowdown/articleshow/70888941.cms  August 29, 2019: ''The Times of India'']
-. ST Families Assisted
+[[File: 2008-2019- Periods of economic slowdown.jpg| 2008-2019: Periods of economic slowdown <br/> From: [https://timesofindia.indiatimes.com/business/india-business/how-serious-is-indias-economic-slowdown/articleshow/70888941.cms  August 29, 2019: ''The Times of India'']|frame|500px]]
-. Rights of Forest dwellers – Owners of minor forest produce
-. Primitive Tribal Groups
+''' How serious is India’s economic slowdown? '''
-. No alienation of Tribal lands
+NEW DELHI: According to global broking firm Goldman Sachs, as of June 2019, the current slowdown has lasted for 18 months, making it is the longest since 2006.
-. Implementation of Panchayats (Extension to Scheduled Areas)
+More than half of the decline in economic activity has been driven by a consumption slowdown, which appears to be broad-based, with components other than auto contributing more than twice the effect of autos to the total consumption decline, says the brokerage in a report.
-Act [PESA]
-. Welfare of Minorities
+''' Is it exaggerated? '''
-. Professional education among all minority communities
+A State Bank of India (SBI) report says that while stagnant rural wage growth reinforces the slowdown, other factors may be at play in specific sectors. Auto sector slowdown, for instance, may be part of the unfolding global crisis as auto sales in Asia-Pacific too are expected to fall.
-. Reservation of OBCs in
+Similarly, low FMCG volume growth in the last quarter may be due to the unusually high growth in the previous one and also because of a shift in consumer preferences towards healthier (for biscuits and snacks) or natural (beauty products) options, bigger packets (due to e-retailing) or good quality products of unlisted companies.
-- Education
+However, the SBI report also says that out of the 33 indicators it tracks, the number of those accelerating has fallen from 17 in March to 9 in June. The principal economic advisor to the government says "the slowdown does not mean economic crisis" and it is "not as bad as the 2008 Lehman crisis."
-- Employment
+''' When will it end? '''
-XI. Mahila Kalyan [Women Welfare]
+Goldman Sachs expects a moderate pick-up in economic activity by March next year if there is a "substantial improvement in consumer confidence over the course of the year, and a significant easing in domestic financial conditions."
-. Financial Assistance for Women Welfare Scheme
+The chief of another broking house, however, thinks that a global recession may start "by the end of 2020 or early 2021" and if that happens Indian economy will suffer too.
-. Improved participation of women in
+India Ratings, a Fitch group company, said on Wednesday that it expects GDP growth for 2019-20 to tumble to a six-year low at 6.7% instead of 7.3% it had said earlier because band-aid measures will not help the economy in the long term.
-(a) Panchayats
+====June 2017> June 2019====
+[[File: The Indian economy, June 2017- June 2019.jpg| The Indian economy, June 2017> June 2019  <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F09%2F21&entity=Ar01803&sk=1A085178&mode=image  Sep 21, 2019: ''The Times of India'']|frame|500px]]
-(b) Municipalities
-(c) State Legislatures
+'''See graphic''':
-(d) Parliament
+'' The Indian economy, June 2017> June 2019 ''
-XII. Bal Kalyan (Child Welfare)
+==2018-20==
+===GVA growth 2019-20 vis-à-vis 2018-19===
+[[File: GVA growth 2019-20 vis-à-vis 2018-19.jpg| GVA growth 2019-20 vis-à-vis 2018-19 <br/> From: [https://timesofindia.indiatimes.com/business/india-business/forecast-puts-gdp-growth-at-11-year-low-of-5/articleshow/73146712.cms  TNN, January 8, 2020: ''The Times of India'']|frame|500px]]
-. Universalisation of ICDS Scheme
+'''See graphic''':
-. Functional Anganwadis
+'' GVA growth 2019-20 vis-à-vis 2018-19 ''
-XIII. Yuva Vikas [Youth Development]
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-. Sports for all in Rural and Urban areas
+==2019: Ports, railway freight slow down==
+[[File: The slowdown in freight handled by ports, railways..jpg|The slowdown in freight handled by ports, railways. <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL/2019/11/16&entity=Ar02110&sk=7FDB0E93&mode=image  Nov 16, 2019: ''The Times of India'']|frame|500px]]
-. Rashtriya Sadbhavana Yojana
+'''See graphic''':
-. National Service Scheme
+'' The slowdown in freight handled by ports, railways. ''
-XIV. Basti Sudhar [Improvement of Slums]
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-. Number of Urban poor families assisted under seven point
+= Carbon footprint=
-charter viz. land tenure, housing at affordable cost, water,
+==2020: an all- India survey==
-sanitation, health, education, and social security.
+[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F01%2F30&entity=Ar00910&sk=70E8945B&mode=text  Shobita Dhar, January 30, 2021: ''The Times of India'']
-XV. Paryavaran Sanrakshan evam Van Vridhi [Environment Protection
-and Afforestation]
-. Afforestation
+Getting people out of poverty will not lead to higher carbon emissions. Countering popular wisdom, a study has found that whether one goes by household expenditure or by socio-religious profile, it is the carbon burden of the wealthy that needs to be addressed first.
-(a) Area Covered under Plantation on - Public and Forest Lands
+In a survey of 623 of the country’s 741 districts, covering over 2 lakh households, by researchers at Japan’s Research Institute for Humanity and Nature, Gurgaon emerged as the one with the highest carbon footprint — over 2 ton CO2/capita. That’s 10 times higher than the district with the smallest footprint in the study, Boudh in Odisha (0.21 ton CO2/capita), four times the national average (0.56 ton CO2/capita) and double that of Delhi (0.98 ton CO2/capita), the study, published in Elsevier journal ‘Global Environment Change’ this month, said.
-(b) Number of Seedlings planted on -Public and Forest Lands
+“We wanted to find out if differences in standards of living or religions affect carbon emissions. Another objective was to estimate how much poverty alleviation contributes to increased carbon emissions,” lead author Lee Jemyung told TOI. “India’s results highlight the need to differentiate individual responsibilities for climate change in national and global climate policy.”
-. Prevention of pollution of rivers and water bodies
+High expenditure households (who live on more than $4.93 a day) in India are responsible for nearly seven times higher carbon emissions than low expenditure households (living on $1.9 a day or less). “First, variations in individual expenditure result in different levels of absolute consumption and associated carbon emissions. Second, the profile of individual consumption activities also varies according to expenditure levels,” the study said.
-. Solid and liquid waste management in
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-- Rural Areas
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-- Urban Areas
+=Agriculture’s share in India’s economy=
+==1950-2011==
+[https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F06%2F06&entity=Ar01522&sk=C0422B57&mode=text  June 6, 2019: ''The Times of India'']
-XVI. Samajik Suraksha [Social Security]
+[[File: Share of agriculture in Gross Value Added at constant prices , 1950-2011.jpg|Share of agriculture in Gross Value Added at constant prices , 1950-2011 <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F06%2F06&entity=Ar01522&sk=C0422B57&mode=text  June 6, 2019: ''The Times of India'']|frame|500px]]
-. Rehabilitation of handicapped and orphans
+Indian Economy No More A Bet On Monsoon As Farming’s Role Shrinks
-. Welfare of the aged
+For years, India’s economy leaned heavily on agriculture, so a poor monsoon could rattle it. But agriculture’s share in the gross value addition (GVA) — value of goods and services minus input costs — to the economy has been steadily falling. It stood at 55% at the start of the first five-year plan in 1950-51, but dropped below 50% by 1961-62. Today, agriculture contributes less than a fifth of India’s GVA
-XVII. Grameen Sadak [Rural Roads]
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-. Rural Roads – PMGSY
+=Balance of payment/ current account deficit=
+==2016-2017==
+[http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=Deficit-widens-due-to-lower-remittances-24032017026033  Deficit widens due to lower remittances, March 24, 2017: The Times of India]
-XVIII. Grameen Oorja [Energization of Rural Area]
-. Bio-diesel Production
+Remittances from overseas Indians has been dropping continuously for the last five quarters, contributing to the widening of current account deficit (CAD). The trade gap has also widened due to lower software exports.
-. Rajiv Gandhi Grameen Vidyutikaran Yojana
+Balance of payment data released, shows that net personal transfers -which are largely remittances by Indians employed overseas--fell to $13.6 billion during the demonetisation quarter from $14.9 billion, a drop of 9.7%.
-. Renewable Energy
+According to numbers released by the RBI, the current account deficit widened to $ 7.9 billion (or 1.4% of GDP) in Q3FY17 as compared to $ 7.1 billion (1.4% of GDP) in Q3FY16 and $ 3.4 billion in (0.6% of GDP) in Q2FY17. The CAD is the difference between income from exports and imports, plus the difference from between outbound and inbound investment income.
-. Energising Pump sets
+A statement issued by the Central bank said that the CAD widened despite a slightly lower trade deficit year-on-year, primarily on account of a decline in net invisibles receipts. Invisible includes remittances from software, services and money sent by Indians working oversea. Net services receipts moderated compared to Q3FY16, due to a fall in earnings from software, finan cial services and charges for intellectual property rights.
-. Supply of Electricity
+From April to December, however, the deficit halved to 0.7%, from 1.4% a year ago.
-. Supply of Kerosene and LPG
+This was primarily because of fall in earnings from software, financial services and charges for intellectual property rights.
-XIX. Pichhara Kshetra ka Vikas [Development of Backward Areas]
+Earnings from software exports have been declining year-on-year, but the third quarter has seen a sequential increase in software exports over the second quarter.
-. Backward Regions Grants Fund
+The net foreign direct investment of $9.8 billion during the reporting quarter was marginally lower than last year. The RBI said that there was a net outflow of portfolio investment of about $11.3 billion during the period in both equity and debt segments, as against a net inflow of $0.6 billion in the year-ago period. During the current fiscal, net FDI rose 12.3% to $30.6 billion as compared to April-December 2016.
-XX. e- Shasan [IT enabled e-Governance]
-. Central and State Governments
+=Governments and economic growth=
+==1947-2018: India has performed better under ‘weak’ governments==
+[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F11%2F17&entity=Ar02001&sk=C0F6CC8D&mode=text    Sadanand Dhume | In economic terms, India has performed better under so-called weak governments |17 Nov 2018|''The Times of India'']
-. Panchayats and Municipalities
-==Table ends==
-==Table begins==
-==TABLE:6.14==
+According to the World Poverty Clock, an online database… About 41 Indians escape extreme poverty every minute.
-PERFORMANCE OF MONTHLY MONITORED ITEMS UNDER TWENTY POINT PROGRAMME-2006
+India’s achievement is creditable by any yardstick. But it occurs against a backdrop of rising prosperity worldwide.
-FOR THE YEAR APRIL, 2010 TO MARCH, 2011
-Sl. Item Name Unit Annual Achievement Per cent
+A political paradox of sorts has accompanied India’s upward economic arc. For the first four decades of independence, single-party majority governments delivered anaemic growth. India’s most dramatic assault on poverty has come in the coalition era that followed Rajiv Gandhi’s defeat in the 1989 general election.
-No. Target for during Achievement
+Between 1950 and 1980, India’s economy expanded at an annualised average of 3.6%. Per capita income grew at a sluggish 1.5% per year. These figures ticked upward in the 1980s, but the real breakthrough only came after India embraced liberalisation and globalisation in 1991. Since then per capita income has grown on average by 4.9%. Since 2004, it has grown even faster – by over 6.1% annually. In this period, India has lifted more than 350 million people out of extreme poverty.
--10 2009-10 of Target
+Why did weak governments deliver better results than strong ones? The simple answer: in India, the era of single-party majorities coincided with the heyday of state planning. After Independence, instead of embracing a market economy, where supply and demand determine production, India scurried down the rabbit hole of socialism where pointy-headed bureaucrats and their political masters called the shots.
-(1) (2) (3) (4) (5) (6)
+Under both Jawaharlal Nehru and Indira Gandhi the government raised trade barriers, nationalised private enterprises, raised extortionate taxes on the rich, and told companies how to run their business. Had they instead used their power to build infrastructure, strengthen rule of law, encourage private enterprise and educate the masses, India need not have waited this long to nearly wipe out poverty.
-No. of Job cards issued 000 Nos. @ 9673 —
+But as four years of Modi have shown, a strong government’s tendency to overreach remains a recurring national problem.
-Employment generated 000 Mandays @ 2384889 —
+Only a strong government could have come up with a cockamamie idea like demonetisation, deemed too crazy to try even by a basket case economy like Venezuela. In a less dramatic – but nonetheless destructive – vein the Modi government has armed tax inspectors with extortionate powers, escalating the tax terrorism the Bharatiya Janata Party (rightly) protested when in opposition.
-Wages given Lakh Rs. @ 2643710 —
+On trade, tariff-loving bureaucrats have prevailed over liberalisers. And while an elegant simplicity marks a goods and services tax in most countries that have adopted it, in India it’s a hot mess designed to privilege discretion over clarity.
-No. of Individual Swarozgaries Assisted* No. 322093 461404 143
-No. of SHGs formed No. — 336755 —
+'' The writer is a resident fellow at American Enterprise Institute in Washington, DC. ''
-No. of SHGs to whom income generating activities provided* No. 185525 221724 120
+=Governments and economic policy=
+== Policy uncertainty, 2004-19==
+[https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F07%2F05&entity=Ar03200&sk=460CB278&mode=text  July 5, 2019: ''The Times of India'']
-Land distributed Hectare @ 52088 —
+[[File: Correlation of EPU index with macroeconomic vulnerability, 2004-19.jpg|Correlation of EPU index with macroeconomic vulnerability, 2004-19 <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F07%2F05&entity=Ar03200&sk=460CB278&mode=text  July 5, 2019: ''The Times of India'']|frame|500px]]
-No. of Inspections made No. @ 127592 —
-No. of Irregularities detected No. @ 27384 —
+If there is one thing that businesses dread, it’s policy uncertainty and lack of predictability. And, the government also recognised this and suggested that an increase in economic policy uncertainty dampens investment growth for at least five quarters.
-No. of Irregularities rectified No. @ 19332 —
+The Economic Policy Uncertainty (EPU) Index — prepared using certain keywords appearing in newspapers — shows that policy uncertainty in India that had peaked around April 2012 is now much lower. The Economic Survey seems to draw comfort from the fact that EPU in India is now decoupled from global uncertainty, a trend that began in 2015.
-No. of Claims filed No. @ 5742 —
+“Uncertainty seems to have stabilised at lower levels in case of India since last few years, which is noteworthy given the recent surge in global uncertainty, partly due to rising trade tensions between US and China, uncertainty about outcome of Brexit, slower world growth,” the annual economic report card tabled in Parliament said. In 2018, for instance, the global uncertainty index zoomed from 112 to 341, while it remained under 100 in India.
-No. of Claims settled No. @ 4392 —
+The survey suggested that lower uncertainty has started to show an improvement in the investment rate. Gross fixed capital formation is also showing an upward trend from April-June 2017-18 until around the first half of the last financial year.
-No. of Prosecution cases Pending No. @ 5511 —
+At the same time, it recognised that uncertainty is not the only factor impacting investment decisions, with interest rates, borrowing cost, price rise and capacity utilisation being the other parameters. While the going may be better compared to the past, frequent policy changes and trust deficit are major concerns for businesses even now. To address this the survey has outlined several steps, including providing a forward guidance, apart from reducing ambiguity and arbitrariness in policy implementation.
-No. of Prosecution cases filed No. @ 222 —
+“To ensure predictability, the horizon over which policies will not be changed must be mandatorily specified so that investor can be provided the assurance about future policy certainty. While this will generate some constraints in policy-making, such voluntary tying of policymakers’ hands is undertaken in several cases, including the Fiscal Responsibility and Budget Management Act, the Monetary Policy Framework of the Reserve Bank of India.”
-No. of Prosecution cases decided No. @ 58 —
+The survey also proposed sub-indices of EPU to capture economic policy uncertainty stemming from fiscal policy, tax policy, monetary policy, trade policy, and banking policy, while suggesting monitoring at the “highest level”.
-Food Security - Off take of food grains by States/UTs under TPDS* Tonne 47535329 43720667 92
+Although several government departments have in past got quality certifications, the survey made a case afresh, arguing that it will not just train officers and other employees but also ensure that policies are properly implemented at lower levels.
-Food Security - Off take of food grains by States/UTs under AAY* Tonne 10228197 9655520 94
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-Food Security - Off take of food grains by States/UTs under BPL* Tonne 17449731 17448808 100
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-Indira Awaas Yojana - No. of Houses constructed* No. 2908697 2608893 90
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-EWS/LIG Houses in urban area - No. of Houses constructed* No. 150000 161626 108
+=India's economy vis-à-vis the world=
+See [[Gross domestic product (GDP): India]]
-Sl. Item Name Unit Annual Achievement Per cent
+[[Economy, India: international comparisons]]
-No. Target for during Achievement
+=Nature, dependence on=
+==2017==
+[https://timesofindia.indiatimes.com/business/india-business/a-third-of-indias-gdp-is-heavily-dependent-on-nature/articleshow/73585611.cms  January 24, 2020: ''The Times of India'']
+[[File: The dependence on Mother Nature of the economies of India, Africa, China, EU, Indonesia, Japan, Latin America, the Middle East and the USA, presumably as in 2017..jpg|The dependence on Mother Nature of the economies of India, Africa, China, EU, Indonesia, Japan, Latin America, the Middle East and the USA, presumably as in 2017. <br/> From: [https://timesofindia.indiatimes.com/business/india-business/a-third-of-indias-gdp-is-heavily-dependent-on-nature/articleshow/73585611.cms  January 24, 2020: ''The Times of India'']|frame|500px]]
--10 2009-10 of Target
+[[File: The sectors majorly dependent on nature, 2020.jpg|The sectors majorly dependent on nature, 2020 <br/> From: [https://timesofindia.indiatimes.com/business/india-business/a-third-of-indias-gdp-is-heavily-dependent-on-nature/articleshow/73585611.cms  January 24, 2020: ''The Times of India'']|frame|500px]]
-(1) (2) (3) (4) (5) (6)
+[[File: Most big economies have big exposure to nature.jpg|Most big economies have big exposure to nature <br/> From: [https://timesofindia.indiatimes.com/business/india-business/a-third-of-indias-gdp-is-heavily-dependent-on-nature/articleshow/73585611.cms  January 24, 2020: ''The Times of India'']|frame|500px]]
-ARWSP - Habitations covered (NC and PC)* No. 60 23 38
-ARWSP - Slipped back Habitations and Habitations with water quality problems addressed*
+Economic growth and environmental sustainability can often appear framed as either/or phenomena, that is, as mutually exclusive, suggesting that the creation of prosperity has to come at the cost of ecological degradation. But a report by World Economic Forum suggests that it is businesses themselves that have far greater exposure to climate change than is immediately apparent as more than half of the global GDP coming from economic activities is dependent on nature. That means most businesses everywhere should worry more about supporting the response to climate change — to protect their profits and the planet.
-No. 121436 86860 72
+$44 trillion — That's how much ecology means to global economy
+The WEF report says “all businesses depend on natural capital assets and ecosystem services either directly or through their supply chains”. It further adds that $44 trillion of economic value generation — more than half of the world’s total GDP of about $86 trillion — is moderately or highly dependent on nature and, hence, also exposed to risks from nature loss.
-Sanitation Programme in rural areas - 000 Nos. @ 6869 —
+But even industries not so heavily reliant on nature have big exposure to it. Thus, chemicals and materials; aviation, travel and tourism; real estate; mining and metals; supply chain and transport retail; and consumer goods and lifestyle sectors — with less than 15% of their direct value highly dependent on nature — still have “hidden dependencies” through their supply chains.
-No. of Individual household latrines constructed
+Economies especially vulnerable to climate change are some of the fastest-growing economies in the world. A third of India, and Indonesia’s, GDP is “generated in sectors that are highly dependent on nature”. For all of Africa taken together, 23% of the combined GDP comes from such sectors The larger economies have the highest absolute amounts of GDP in nature-dependent sectors.
-No. of deliveries in institutions 000 Nos. @ 6729 —
+Coffee, a case in point of how businesses depend on nature…
-No. of SC Families Assisted* 000 Nos. 4774 1228827 144
+While WEF notes that “nature is often hidden or incorrectly priced in supply chains”, it admits that “confusion persists on what amount of nature loss has occurred, why it relates to human prosperity...” The example of coffee gives an idea: 60% of coffee varieties are in danger of extinction due to climate change, disease and deforestation. If this were to happen, global coffee markets — with retail sales of $83 billion in 2017 — would be significantly affected.
-No. of ICDS Blocks Operational (Cumm.)* No. 7012 469210 96
+...And staple crops show why sustainability is key
-No. of Functional Anganwadis (Cumn.)* No. 1366624 1795 90
+More than half of the world’s food comes from just three staples — rice, wheat and maize. But while agricultural crop diversification can improve resilience to pest and disease outbreaks, monocultures, encouraged mainly by economic incentives, are still the dominant form of industrial agriculture.
-No. of urban poor Families Assisted* No. 197025 13411 238
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-Area covered under Plantation (Public & Forest Lands)* 000 Hectares 1732 1547 104
+=Macro-indicators=
+==During global crises==
+===2008-22===
+[[File: India’s Macro-indicators During global crises, 2008-22.jpg| India’s Macro-indicators During global crises, 2008-22 <br/> From: [https://epaper.timesgroup.com/article-share?article=01_02_2022_017_011_cap_TOI  February 1, 2022: ''The Times of India'']|frame|500px]]
-Seedings planted (Public & Forest Lands)* Lakh Nos. 10858 10613 124
+'''See graphic''':
-Length of Road Constructed (PMGSY)* Km. 34090 60172 138
+'' India’s Macro-indicators During global crises, 2008-22 ''
-No. of Villages Electrified (RGGVY)* No. 17500 16701 106
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-No. of Pump sets energized* No. 328950 352247 138
+=Public vis-à-vis private sector =
+==Market share: 2020 ==
-Electricity supplied* (Million Unit) MU 845266 732372 92
+[[File: Public vis-à-vis private sector, Market share in 2020.jpg|Public vis-à-vis private sector: Market share in 2020 <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F02%2F03&entity=Ar02004&sk=173E3CBE&mode=image  February 3, 2021: ''The Times of India'']|frame|500px]]
-*Items having monthly targets and considered for appraisal.
+'''See graphic''':
-@ No targets were fixed.
+'' Public vis-à-vis private sector: Market share in 2020 ''
-==Table ends==
-=MEMBER OF PARLIAMENT LOCALAREA DEVELOPMENT SCHEME=
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-The Member of Parliament Local Area Development Scheme (MPLAD) was
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-launched by the Government of India on 23rd December, 1993, to enable Members
+ECONOMY: INDIA 1]]
-of Parliament to recommend works of developmental nature with emphasis on the
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-creation of durable community assets based on the locally felt needs to be taken up
+ECONOMY: INDIA 1]]
-in their Constituencies/States. Initially the MPLADS was under the control of the
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-Ministry of Rural Development. The subject relating to the MPLADS was transferred
+ECONOMY: INDIA 1]]
-to the Ministry of Statistics and Programme implementation in October, 1994. The
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-Scheme is governed by a set of Guidelines, which have been comprehensively revised
+ECONOMY: INDIA 1]]
-from time to time. The present Guidelines were issued in November, 2005.
-Some of the salient features of the scheme are enumerated below:-
-l The MPLADS is a Plan Scheme fully funded by the Government of India,
+=Purchasing power of individuals/ Affordability of things=
-under which funds are released in the form of Grants-in-Aid, as special Central
+==1991> 2019==
-Assistance to States.
+[[File: 1991- 2019- The growth in the purchasing power of individuals, The affordability of things.jpg|1991> 2019: The growth in the purchasing power of individuals/ The affordability of things  <br/> From: [https://epaper.timesgroup.com/olive/apa/timesofindia/SharedView.Article.aspx?href=TOIDEL%2F2019%2F07%2F06&id=Ar00611&sk=A2DF9900&viewMode=image  July 6, 2019: ''The Times of India'']|frame|500px]]
-l In 1993-94, when the Scheme was launched, an amount of Rs. 5 lakh per MP
+See graphic, '1991> 2019: The growth in the purchasing power of individuals/ The affordability of things '
-was allotted which was enhanced to Rs. 1 crore per annum from 1994-95 per
-MP constituency. This was further increased to Rs. 2 crore from 1998-99. It is
-released in two equal instalments of Rs. 1 crore each by the Government of
-India directly to the District Authorities for execution of the eligible works
-recommended by the MPs by following the established procedure of the
-concerned State Government. Now it has been proposed to increase from Rs. 2
-crore to Rs. 5 Crore from 2011-12.
-l The funds released under the scheme are non lapsable i.e. the funds not released
+===Part B===
-in a particular year will be carried forward for making releases in the
+[[File: 1991- 2019- The growth in the purchasing power of individuals, The affordability of things.jpg| 1991> 2019: The growth in the purchasing power of individuals/ The affordability of things <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F02%2F03&entity=Ar02008&sk=42EF5253&mode=image  February 3, 2021: ''The Times of India'']|frame|500px]]
-subsequent years subject to eligibility.
-l Examining the eligibility, sanctioning, funding, selection of implementing
-agencies, prioritization and overall execution, monitoring of the scheme at
-the ground level, is done by the District Authorities.
-l The Lok Sabha Members can recommend works in their respective
+'''See graphic''':
-constituencies. The elected members of Rajya Sabha can recommend works
-anywhere in the State from which they are elected. Nominated Members of
-the Lok Sabha and the Rajya Sabha can recommend works for implementation
-anywhere in the country.
-l Right from the inception of the Scheme, works for creation of durable assets
+'' 1991> 2019: The growth in the purchasing power of individuals/ The affordability of things ''
-of national priorities viz., drinking water, primary education, public health,
-sanitation and roads, etc have been given priority.
-l MPs can also recommend community infrastructure and public utility building
+=Three levers of economy (inflation, deficit, GDP growth)=
-works for registered Societies/Trusts subject up to a ceiling of Rs. 25 lakh. The
+==1970-2020==
-Basic Economic Data 149 ownership of the land may remain with the Society/
+[[File: The Three levers of the Indian economy (inflation, deficit, GDP growth), 1970-2020.jpg| The Three levers of the Indian economy (inflation, deficit, GDP growth), 1970-2020 <br/> From: [https://epaper.timesgroup.com/article-share?article=02_02_2022_005_004_cap_TOI  February 2, 2022: ''The Times of India'']|frame|500px]]
-Trust, but the structure constructed with MPLADS funds shall be the property
-of State/UT Government.
-l Special attention is given for infrastructural development of areas inhabited
+'''See graphic''':
-by Scheduled Castes and Scheduled Tribes population by earmarking 15%
-and 7.5% respectively of MPLADS funds for those areas and if there is no
-tribal population inthe constituency of the Lok Sabha members of Parliament,
-they can recommend works within their state of election upto 7.5% of their
-annual entitlement in the notified CD blocks with more than 50% tribal
-population.
-l Also to encourage Trusts/Societies to work for the betterment of the tribal
+'' The Three levers of the Indian economy (inflation, deficit, GDP growth), 1970-2020 ''
-people, the ceiling of Rs. 25 lakh has been increased to 37.50 lakhs where the
-additional amount of Rs.12.50 Lakh should be used for the creation of public
-utility building assets primarily for the benefit of tribal people exclusively in
-the notified tribal CD blocks with more than 50% tribal population.
-l In order to undertake rehabilitation works in the areas affected by calamities
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-in a State, Lok Sabha MPs from the non-affected areas of that State can
+ECONOMY: INDIA 1]]
-recommend permissible works to the tune of up to Rs. 10 lakh per annum in
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-those areas. In the event of calamity of severe nature in any part of the country,
+ECONOMY: INDIA 1]]
-an MP can recommend works up to a maximum of Rs. 50 lakh for the affected
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-district.
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-l MPs can promote education and culture of a State/UT wherefrom they are
+= 2016 : Demonetisation =
-elected at a place outside that State/UT by selecting works relating to education
+'''Please see''':
-and cultural development not prohibited under the Guidelines on MPLADS
-up to a maximum of Rs. 10 lakh in a financial year.
-l At the time of the constitution of Lok Sabha, and election of a Rajya Sabha
+[[Demonetisation of high value currency- 1946, 1978: India]]
-Member, the first instalment of Rs. 1 crore will be released to the District
-Authorities.
-l To bring in more financial accountability, furnishing the Utilization Certificate
+[[Demonetisation of high value currency- 2016: India]]
-for the previous financial year and the Audit certificate for the funds released
-for the MP concerned in the year prior to the previous year are also prerequisites
-for release of the second instalment. The first instalment of the fund
-will be released in the beginning of the financial year, subject to the condition
-that second instalment of the previous year was release for the MP concerned.
-l The normal financial and audit procedures prevalent in the states in which
+=PART II OF THIS PAGE=
-the works are executed apply with regard to the implementation of the works.
+=Capital expenditure =
-l An effective mechanism of monitoring of implementation of MPLADS is most
+==…by the states, 2015-19==
-essential, for efficacious implementation of the Scheme. Ministry has, therefore,
+[[File: The states’ focus areas of capital expenditure, 2015-19.jpg|The states’ focus areas of capital expenditure, 2015-19 <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL/2019/10/23&entity=Ar02505&sk=205E43A3&mode=image  Oct 23, 2019: ''The Times of India'']|frame|500px]]
-envisaged direct physical monitoring of MPLADS works on sample basis in
-selected districts, through an independent agency viz. NABARD Consultancy
-Services (NABCONS) launched from 2007-08. This initiative was envisaged
-as an important instrument for monitoring and a source of feedback on the
-status of implementation at the ground level so that corrective action may be
-taken. So far, 133 districts of the country have been covered in first three phases
-such as 30 districts in 2007-08, 43 districts in 2008-09 and 60 districts in 2009-
-. The concerned District authorities have been asked to take corrective
+'''See graphic''':
-measures on the basis of the report, In fourth phase during 2010-11, monitoring
-of 75 districts have been taken.
-''' Impact of the Scheme '''
+'' The states’ focus areas of capital expenditure, 2015-19 ''
-Since its inception, the Scheme has immediately benefited the local community by
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-meeting their various developmental needs such as drinking water facility,
+ECONOMY: INDIA 1]]
-education, electricity, health and family welfare, irrigation, non-conventional energy,
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
-community centres, public libraries, bus stands/stops, roads, pathways and bridges,
+ECONOMY: INDIA 1]]
-sports, etc.
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
-''' Scheme Performance ''' (as on 31.05. 2011)
+=See also=
+[[Developmental indicators: India]]
-l Rs.22624.92 crore has been released, since the inception of the Scheme.
+[[Economy: India 1]]
-l As per the reports received from the Districts, an expenditure of Rs.20679.59
+[[Economy: India 2 (Ministry data)]]
-crore has been incurred. The percentage utilization over release is 91.4.
-l Approximately 12.37 lakh works have been sanctioned and 11.33 lakh works
+[[Economy, India: international comparisons]]
-have been completed, as on 31.05.2011, since the inception of the scheme. The
-percentage of works completed to sanctioned ones is 91.59.
-l The progressive status of funds released by Government of India and
+[[Gross domestic product (GDP): India]]
-expenditure incurred by District Authorities has been given in Table 6.15.
-==TABLE- 6.15: PROGRESIVE STATUS OF FUNDS RELEASED BY GOI AND
+[[Per capita Income: India and its states]]
-EXPENDITURE INCURRED BY DISTRICT AUTHORITIES=
-(R in crore)
+==And also...==
+[[Corporate Tax: India]]
-As on Release by Expenditure % Utilisation
+[[Direct taxes: India]]
-GOI incurred over release
+[[Economic history: India]]
-.03.1998 2837.80 1549.02 54.59
+[[Gift tax: India]]
-.03.1999 3626.39 2315.40 63.85
+[[Goods and services tax (GST)]]
-.03.2000 5017.80 3813.14 75.99
+[[Income Tax India: Expert advice, 2016-17]]
-.03.2001 7097.80 4649.49 65.51
+[[Income Tax India: Expert advice, 2017-18]]
-.03.2002 8897.80 6610.18 74.29
+[[Income Tax India: Expert advice]]
-.03.2003 10497.80 8272.70 78.80
+[[Income Tax India: Laws]]
-.03.2004 12179.80 10009.38 82.18
+[[Income Tax India: NRIs]]
-.03.2005 13489.90 11918.49 88.35
+[[Income Tax, India: Statistics]]
-.03.2006 14923.70 13562.46 90.87
+[[Indirect Taxes: India]]
-.03.2007 16375.20 14579.83 89.04
+[[Personal Taxes: India]]
-.03.2008 17845.75 16086.28 90.14
+[[Property Tax: India]]
-.03.2009 19425.75 18057.91 92.96
+[[Service tax: India]]
-.03.2010 20957.25 19131.89 91.29
+[[Wealth tax: India]]
-.05.2011 22624.92 20679.59 91.40
+[[Category:Economy-Industry-Resources|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Government|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:India|EECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]
+[[Category:Pages with broken file links|ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1ECONOMY: INDIA 1
+ECONOMY: INDIA 1]]

Economy: India 1

Latest revision as of 17:11, 4 September 2023

Contents

[edit] India’s economy: the main trends

[edit] A.D. 1 to 2003

[edit] The British Era

[edit] 1962-2021

[edit] 1975-2015

[edit] 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex, FII flow

[edit] 1980-2020

[edit] 1990-2020: sensex, per capita income, ₹ vs $, GDP growth, forex, FII flow

[edit] 1991-21: salaries, wealth, share of agriculture, women workers

[edit] 1997-2018: Fiscal Deficit to GDP

[edit] 1997-2018: Gross Fixed Capital Formation (GFCF)

[edit] 1997-2018: Inflation trend

[edit] 1997-2018: Unemployment Rate

[edit] 2009-18: ₹ vs. $/ GDP/ adding $1 trillion to GDP

[edit] 2011/ 13-19

[edit] 2017>19: The slowdown in demand

[edit] 2020, the year of the Covid pandemic

[edit] 2015-22

[edit] The year-wise position, especially after 2002

[edit] 2004- 18

[edit] 2004-14 vis-à-vis 2014-18

[edit] 2004-14 (and 1988-89, 1994-2003)

[edit] 2004-14 vis-à-vis 2014-19

[edit] 2012-16: fastest growth in 5 years

[edit] 2014-16: Economic indicators

[edit] Facts about Indian economy

[edit] 2015-16

[edit] 2015-16: economy grew 7.9%

[edit] …vs. 2008-18 (GDP), 2018 (inflation), 2013-18 (deficit)

[edit] The economy as in 2017

[edit] 2012-18: impact of GST on manufacturing

[edit] Economic indicators: 2012-14 vs. 2014-17

[edit] Indicators 2013-18 (inflation, monsoons, crude prices)

[edit] 2014, May- 2018, May

[edit] 2014, May- 2019 Jan

[edit] For individual Indians

[edit] For the country as a whole

[edit] Oct 2016- Jan 2018: industry, manufacturing, inflation

[edit] 2016 Nov-2018 Dec

[edit] 2017 Q4> 2019 Q1: growth

[edit] 2017-18: rural demand slumps to lowest since 1973

[edit] Govt does not release consumer expenditure survey, 2017-18

[edit] 2018 Aug vs. June: mixed trends

[edit] 2018 to 19: growth declines

[edit] 2018-19: The main trends

[edit] How serious is India’s economic slowdown?

[edit] June 2017> June 2019

[edit] 2018-20

[edit] GVA growth 2019-20 vis-à-vis 2018-19

[edit] 2019: Ports, railway freight slow down

[edit] Carbon footprint

[edit] 2020: an all- India survey

[edit] Agriculture’s share in India’s economy

[edit] 1950-2011

[edit] Balance of payment/ current account deficit

[edit] 2016-2017

[edit] Governments and economic growth

[edit] 1947-2018: India has performed better under ‘weak’ governments

[edit] Governments and economic policy

[edit] Policy uncertainty, 2004-19

[edit] India's economy vis-à-vis the world

[edit] Nature, dependence on

[edit] 2017

[edit] Macro-indicators

[edit] During global crises

[edit] 2008-22

[edit] Public vis-à-vis private sector

[edit] Market share: 2020

[edit] Purchasing power of individuals/ Affordability of things

[edit] 1991> 2019

[edit] Part B

[edit] Three levers of economy (inflation, deficit, GDP growth)

[edit] 1970-2020

[edit] 2016 : Demonetisation

[edit] PART II OF THIS PAGE

[edit] Capital expenditure

[edit] …by the states, 2015-19