About India

Life expectancy

According to the latest WHO data published in 2013 life expectancy in India is: Male 64.7, female 68.2 and total life expectancy is 66.4 which gives India a World Life Expectancy ranking of 135.

Literacy levels

In India the literacy is still hovering around 74% on an average reaching above 90% in Kerala and below 75% in poorer parts. All efforts and success in literacy have become obliterated by huge rise in population.

Women population constitutes a larger portion of total illiterate population. In India, the female literacy rate is around 65 percent as against the male literacy rate of around 82 percent. Hence, women education is very important to eradicate illiteracy.

Economic indicators

According to IMF World Economic Outlook Update (January 2016), Indian economy is expected to grow at 7-7.75 per cent during FY 2016-17, despite the uncertainties in the global market. The Economic Survey 2015-16 had forecasted that the Indian economy will growing by more than seven per cent for the third successive year 2016-17 and can start growing at eight per cent or more in next two years.

Foreign direct investment (FDI) in India have increased by 29 per cent during October 2014-December 2015 period post the launch of Make in India campaign, compared to the 15-month period before the launch.

 Rising macroeconomic imbalances in India and improving economic conditions in Western countries, led investors to shift capital away from India, prompting a sharp depreciation of the rupee. However, investors' perceptions of India improved in early 2014, due to a reduction of the current account deficit and expectations of post-election economic reform, resulting in a surge of inbound capital flows and stabilization of the rupee.

GDP

Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

Growth rate

The Indian economy expanded 7.3 percent year-on-year in the last three months of 2015, slowing from an upwardly revised 7.7 percent growth in the previous quarter but in line with market expectations. The manufacturing sector surged 12.6 percent while farm output shrank 1 percent.

GDP Annual Growth Rate in India averaged 6.04 percent from 1951 until 2015, reaching an all time high of 11.40 percent in the first quarter of 2010.

GDP per capita

The Gross Domestic Product per capita in India was last recorded at 1262.64 US dollars in 2014. The GDP per Capita in India is equivalent to 10 percent of the world's average. GDP per capita in India averaged 477.50 USD from 1960 until 2014, reaching an all-time high of 1262.64 USD in 2014 and a record low of 228.34 USD in 1960. GDP per capita in India is reported by the World Bank.

According to International Monetary Fund World Economic Outlook (April-2015), GDP (nominal) per capita of India in 2014 at current prices is $1,627 compare to $1,508 in 2013. India is the ninth largest economy of the world. But, due to its huge population of more than 1.26 billion, India is at 145th position in term of GDP (nominal) per capita. Per capita income of India is 6.69 times lower than world's average around of $10,880

Unemployment

Unemployment Rate in India decreased to 4.90 percent in 2013 from 5.20 percent in 2012. Unemployment Rate in India averaged 7.32 percent from 1983 until 2013, reaching an all-time high of 9.40 percent in 2009 and a record low of 4.90 percent in 2013. Unemployment Rate in India is reported by the Ministry of Labour and Employment, India.

.At every level of education, especially at the higher levels, female unemployment exceeded male unemployment. The ‘unemployed’ included those who were not currently working but were seeking or available for work, as well as those in marginal employment.

Inflation rate

Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling.

Consumer prices in India went up 5.39 percent year-on-year in April of 2016, accelerating from a 4.83 percent rise in the previous month and higher than market expectations of 5 percent. Food inflation also reached a three-month high. Inflation Rate in India averaged 7.74 percent from 2012 until 2016, reaching an all time high of 11.16 percent in November of 2013 and a record low of 3.69 percent in July of 2015. Inflation Rate in India is reported by the Ministry of Statistics and Programme Implementation (MOSPI), India.

Government Debt to GDP

India recorded a Government Debt to GDP of 66.40 percent of the country's Gross Domestic Product in 2014. Government Debt to GDP in India averaged 73.46 percent from 1991 until 2014, reaching an all time high of 84.20 percent in 2003 and a record low of 66 percent in 1996. Government Debt to GDP in India is reported by the Ministry of Finance, Government of India.

The Indian government’s borrowings aren’t that reckless. Nevertheless, it caught the attention of economists, who have been advising Finance Minister Arun Jaitley to pursue fiscal consolidation, in other words, to cut the debt-flab. While Reserve Bank of India Governor Raghuram Rajan explicitly said growth achieved through borrowed money isn’t desirable right now, rating agencies have threatened to downgrade India’s sovereign rating if the government fails to mind its deficit math.

Interest rates

The Reserve Bank of India cut its benchmark repo rate by 25 bps to 6.5 percent during the meeting held on April 5th, 2016, as widely expected. It is the first reduction since September 2015 and the lowest rate since January 2011. At the same time, the bank unexpectedly raised the reverse repo by 25 bps to 6.0 percent while ensuring more availability of cash in the banking system by reducing the cash proportion of their daily reserve requirements and maintaining the cash reserve at 4.0 percent. Interest Rate in India averaged 6.71 percent from 2000 until 2016, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4.25 percent in April of 2009. Interest Rate in India is reported by the Reserve Bank of India.

Conclusion

The growth rate of India's GDP has been exceeding Japan's for many years, mainly due to the higher population growth in India, becoming the world's most populous country 5 years ago, reaching a total of 1.5 billion people earlier this year. This could be compared to Japan where the population has decreased over the last 30 years by about 5 percent. This has given India a young workforce to drive the economy. 

The final factor that could position India as a superpower is its geopolitical advantage. Since his election, the Prime Minister has made a concerted effort to strengthen ties with Russia, Japan, and the U.S. For each of them, India is a valuable trading partner. But even more significant is the strategic importance of its alliance with all those nations.

Sources

http://www.tradingeconomics.com/

http://www.investopedia.com/

http://www.bloomberg.com/

http://www.statista.com/

https://community.data.gov.in

http://indianexpress.com/

Homepage

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