India Country Profile INDIA Country Profile Politics Economy Trade & Industries General Profile Total area 3,287,263 sq km Population 1,205,073,612 (July 2012 est.) 2007 2008 2009 2010 2011 Growth World Population YoY (in billions) 6.6 6.7 6.8 6.9 7.0 1% Government type federal republic Chief of state Mr Pranab Mukherjee Head of Mr. Manmohan SINGH government Capital New Delhi Climate varies from tropical monsoon in south to temperate in north Hindi 41%, Bengali 8.1%, Telugu 7.2%, Marathi 7%, Tamil 5.9%, Urdu 5%, Language Gujarati 4.5%, Kannada 3.7%, Malayalam 3.2%, Oriya 3.2%, Punjabi 2.8%, Assamese 1.3%, Maithili 1.2%, other 5.9% NEW DELHI (capital) 21.72 million; Mumbai 19.695 million; Kolkata Major City 15.294 million; Chennai 7.416 million; Bangalore 7.079 million (2009) Economy Profile 2009 2010 2011 World GDP Real -0.8% 5% 3.6% Growth World GDP (in 58.1 63.3 70.2 Trillions) IndiaGDP Real 6.8% 10.1% 7.8% Growth Profile General GDP $1.843 trillion (2011 est.) GDP – Per capita $3,700 (2011 est.) Chapter: Chapter: 1 agriculture: 18.1% GDP – Composition industry: 26.3% by sector services: 55.6% (2011 est.) Inflation 6.8% (2011 est.) Indian rupees (INR) per US dollar - Exchanges Rates 44.64 (2011 est.) Information Technology Information Technology Enabled Services Telecommunications Electronics and hardware Automobiles Pharmaceuticals and biotechnology Consumer durables Retail Primary Economy Textiles Sector Infrastructure Construction Airlines Hospitality Power Oil and natural gas Fertilizers and chemical Unemployment 9.8% (2011 est.) Rate Economy Profile Economy Chapter: Chapter: 2 Ports and Chennai, Jawaharal Nehru Port, Kandla, Kolkata (Calcutta), Mumbai (Bombay), Terminals Sikka, Vishakhapatnam International Indira Gandhi International Airport (Delhi), Chennai International Airport (Chennai), Chhatrapati Shivaji International Airport (Mumbai), Netaji Airports Subhash Chandra Bose International Airport (Calcutta) People's Assembly - percent of vote by party - NA; seats by party - INC 206, BJP 116, SP 23, BSP 21, JD (U) 20, AITC 19, DMK 18, CPI-M 16, BJD 14, SS 11, AIADMK Election results 9, NCP 9, other 61, vacant 2; note - seats by party as of December 2011 - INC 208, BJP 115, SP 22, BSP 21, JD(U) 20, AITC 18, DMK 18, CPI(M) 16, BJD 14, SS 14, AIADMK 9, NCP 9, TDP 6, RLD 5 other 49, vacant 1 Menteri/ Departemen Nama Pejabat Prime Minister and also In-Charge : Dr. Manmohan Singh of the Ministries/Departments viz: Ministry of Personnel, Public Grievances and Pensions Ministry of Planning Department of Atomic Energy Department of Space Minister of Finance : Shri Pranab Mukherjee Minister of Agriculture and Food : Shri Sharad Pawar Processing Industries Minister of Defence : Shri AK Antony Minister of Home Affairs : Shri P. Chidambaram Minister of Railways : Shri Dinesh Trivedi Minister of External Affairs : Shri SM Krishna Minister of Micro, Small and : Shri Virbhadra Singh Medium Enterprises Minister of Earth Sciences : Shri Vilasrao Deshmukh Minister of Science and Technology Ministry Name Minister of Health and Family : Shri Ghulam Nabi Azad Welfare Minister of Power : Shri Sushil Kumar Shinde Minister of Corporate Affairs : Shri M. Veerappa Moily Minister of New and Renewable : Dr. Farooq Abdullah Energy Minister of Petroleum and Natural : Shri S. Jaipal Reddy Gas Minister of Urban Development : Shri Kamal Nath Minister of Overseas Indian : Shri Vayalar Ravi Affairs Ministry of Steel : Shri Beni Prasad Verma Minister of Drinking Water and : Shri. Jairam Ramesh Sanitation Minister of Rural Development Minister of Information and : Smt. Ambika Soni Broadcasting Minister of Labour and : Shri Mallikarjun Kharge Employment Ports and Terminals Ports and Minister of Human Resource : Shri Kapil Sibal Development, Chapter: Chapter: 3 Minister of Communications and Information Technology Minister of Textiles : Shri Anand Sharma Minister of Commerce and Industry Minister of Road Transport and : Shri CP Joshi Highways Minister of Housing and Urban : Kum. Selja Poverty Alleviation and Minister of Culture Minister of Tourism : Shri Subodh Kant Sahay Minister of Shipping : Shri GK Vasan Minister of Water Resources and : Shri Pawan K. Bansal Minister of Parliamentary Affairs Minister of Panchayati Raj and : Shri V. Kishore Chandra Minister of Tribal Affairs Deo Minister of Chemicals and : Shri MK Alagiri Fertilizers Ministry of Coal : Shri Sriprakash Jaiswal Minister of Minority Affairs and : Shri Salman Khursheed Minister of Law and Justice Ministry of Heavy Industries & : Shri Praful Patel Public Enterprises Minister of Civil Aviation : Shri Ajit Singh Ministry Name Ministry Chapter: Chapter: 4 All India Anna Dravida Munnetra Kazhagam or AIADMK [J. JAYALALITHAA]; All India Trinamool Congress or AITC [Mamata BANERJEE]; Bahujan Samaj Party or BSP [MAYAWATI]; Bharatiya Janata Party or BJP [Nitin GADKARI]; Biju Janata Dal or BJD [Naveen PATNAIK]; Communist Party of India or CPI [A.B. BARDHAN]; Communist Party of India- Marxist or CPI-M [Prakash KARAT]; Dravida Munnetra Kazhagam or DMK Political parties [M.KARUNANIDHI]; Indian National Congress or INC [Sonia GANDHI]; and leaders Janata Dal (United) or JD(U) [Sharad YADAV]; Nationalist Congress Party or NCP [Sharad PAWAR]; Rashtriya Janata Dal or RJD [Lalu Prasad YADAV]; Rashtriya Lok Dal or RLD [Ajit SINGH]; Samajwadi Party or SP [Mulayam Singh YADAV]; Shiromani Akali Dal or SAD [Parkash Singh BADAL]; Shiv Sena or SS [Bal THACKERAY]; Telugu Desam Party or TDP [Chandrababu NAIDU] India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy India Economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. Overview However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to- urban migration. 1. Maintaining fiscal discipline 2. Orientation of public expenditure towards sectors in which India is faring badly such as health and education. 3. Introduction of reforms in labour laws to generate more employment opportunities for the growing population of India. Trade Policy 4. Reorganization of agricultural sector, introduction of new technology, reducing agriculture's dependence on monsoon by developing means of irrigation. 5. Introduction of financial reforms including privatization of some public sector banks. Political parties and leaders and parties Political Investment Investments in Bank Fixed Deposits (FD) Policy Fixed Deposit or FD is accrues 9.25% of annual returns for non-senior citizen, Chapter: Chapter: 5 depending on the bank's tenure and guidelines, which makes it's widely sought after and safe investment alternative. The minimum tenure of FD is 15 days and maximum tenure is 5 years and above. Senior citizens are entitled for exclusive rate of interest on Fixed Deposits, current rate of return is average 10% annual. Insurance features among the best investment alternative as it offers services to indemnify your life, assets and money besides providing satisfactory and risk free profits. Indian Insurance Market offers various investment options with reasonably priced premium. Some of the popular Insurance policies in India are Home Insurance policies, Life Insurance policies, Health Insurance policies and Car Insurance policies. Some top Insurance firm in India under whom you can buy insurance scheme are LIC, SBI Life, ICICI Prudential, Bajaj Allianz, Birla Sunlife, HDFC Standard Life, Reliance Life, Max NewYork Life, Metlife, Tata AIG, Kotak Mahindra Life, ING Life Insurance, etc. ) National Saving Certificate (NSC) is subsidized and supported by government of India as is a secure investment technique with a lock in tenure of 6 years. There is no utmost limit in this investment option while the highest amount is estimated as ` 100. The investor is entitled for the calculated interest of 8% which is forfeited two times in a year. National Saving Certificate falls under Section 80C of IT Act and the profit accrued by the investor stands valid for tax deduction up to ` 1, 00,000. estments in Public Provident Fund (PPF) Like NSC, Public Provident Fund (PPF) is also supported by the Indian government. An investment of minimum ` 500 and maximum INR. 100,000 is required to be deposited in a fiscal year. The prospective investor can create it PPF account in a GPO or head post office or in any sub-divisions of the nationalized bank. PPF also falls under Section 80C of IT Act so investors could gain income tax deduction of up to ` 1, 00,000.