Economy of India
Currency 1 Indian Rupee (INR) (₨) = 100 Paise
Fiscal year April 1–March 31
Trade organisations WTO, SAFTA
Statistics
GDP (PPP) $5.21 trillion (PPP) (2008 est.) (3rd)
GDP growth 9.6% (2006/07)
GDP per capita $978 (nominal); $2,659 (PPP) [7]
GDP by sector agriculture: 19.9%, industry: 19.3%, services: 60.7% (2006 est.)
Inflation (CPI) 12.01% (26 July 2008)[1]
Population below poverty line 25% (2002 est.) [8]
Labour force 509.3 million (2006 est.)
Labour force by occupation agriculture: 60%, industry: 12%, services: 28% (2003)
Unemployment 7.8% (2006 est.)
Main industries textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, services
External
Exports $125 billion (Financial Year 2006-2007)
Export goods textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures, services
Main export partners US 18%, the People's Republic of China 8.9%, UAE 8.4%, UK 4.7%, Hong Kong 4.2% (2005)
Imports $187.9 billion f.o.b. (2006 est.)
Import goods crude oil, machinery, gems, fertilizer, chemicals
Main import partners the People's Republic of China 7.2%, US 6.4%, Belgium 5.1%, Singapore 4.7%, Australia 4.2%, Germany 4.2%, UK 4.1% (2005)
Public finances
Public debt $132.1 billion (2006 est.)
Revenues $109.4 billion (2006 est.)
Expenses $143.8 billion; including capital expenditures of $15 billion (2006 est.)
Economic aid donor: $17.3 million (2006)

Friday, September 5, 2008

Financial and Banking Sector Reforms

The last decade witnessed the maturity of India's financial markets. Since 1991, every governments of India took major steps in reforming the financial sector of the country. The important achievements in the following fields is discussed under serparate heads:

  • Financial markets
  • Regulators
  • The banking system
  • Non-banking finance companies
  • The capital market
  • Mutual funds
  • Overall approach to reforms
  • Deregulation of banking system
  • Capital market developments
  • Consolidation imperative
Now let us discuss each segment seperately.

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