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India's GeoEconamy About India's econamy & geography

The Economy of India is the seventh-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). The country is one of the G-20 major economies, a member of BRICS and a developing economy among the top 20 global traders according to the WTO. According to the Indian Finance Ministry the annual growth rate of the Indian economy is projected to have increased to 7.4% in

2014-15 as compared with 6.9% in the fiscal year 2013-14. In an annual report, the IMF forecast that the Indian Economy would grow by 7.5% percent in the 2015-16 fiscal year starting on April 1, 2015, up from 7.2% (2014–15).

02/07/2018
Is India winning the war on poverty?

The number of Indians living in extreme poverty has fallen sharply in seven years according to the latest figures, Soutik Biswas reports.

21/05/2018
ICICI Bank Raises Lending Rates (MCLR) By 15 Basis Points Following SBI, PNB

Following State Bank of India (SBI) and Punjab National Bank (PNB), which raised their lending rates on Thursday, ICICI Bank also raised its marginal cost of funds based lending rates (MCLR) with effect from March 1, 2018. The marginal cost of funds based lending rate of ICICI Bank is now 7.95% for....

18/09/2017
role of agriculture in indian economy | Your Help Line

~ Role of agriculture in indian economy

India is mainly an agricultural country. Agriculture is the most important occupation for most of the Indian family. In India agriculture contributes about sixteen percent of total exports. It is principal source of livelihood for many households in rural India. The agricultural produce farms a major chunk in the list of exports.

Over 60% of India’s land area is arable making it the second largest country in terms of total arable land. India exports excess food and agricultural products. A large proportion of India’s export trade in based on the agricultural products such as Jute, Tea, Spices, To***co, Coffee and Sugar. India is ranked seventh in terms of agricultural exports. A large number of rural women are also engaged in agriculture.

Agricultural sector provides fodder for domestic animals. Cows provide people with milk which is a form of protective food. Moreover livestock also meets people’s food requirements. Bulks of agricultural products are transported by railways and roadways from farm to factories. Mostly internal trade is in agricultural products. Moreover the revenue of the government of a larger extent relies on the success of agricultural sector. for More info. Click

role of agriculture in indian economyPosted by Avinashji | Jun 6, 2017 | Social | 0 | Warning: htmlspecialchars(): charset `UTF-7' not supported, assuming utf-8 in /home/yourhelpline/public_html/wp-includes/formatting.php on line 3981India is mainly an agricultural country. Agriculture is the most i...

18/09/2017
How Goods and Service Tax (GST) has influenced Indian Economy

~ How Goods and Service Tax (GST) has influenced Indian Economy
Goods and Service Tax Act has brought many changes in the tax revenue system. It is going to bring huge differences in our lives . Some say, rich people will be the main victim and some other says it will affect the wallet of common people. But, this is actually coming with a mixed bag of benefits to the communities. It reduces the cost of important items and some goods becomes quite expensive. It seems that in the longer run, Goods and Service Tax (GST) might have some favorable effects on the Indian economy, while in the short run, the benefits seem to be limited.

Let’s have a discussion on the change in price of the essential commodities.
First, have a look at the things which might become costlier as the effect of Goods and Service Tax (GST) and you can check the ... click for More ....

Goods and service tax influence a lot to Indian economy. Know how it is affect you and the best pricing tricks for the implementation of GST.

03/09/2017
Can India Defeat Poverty?

~ Can India Defeat Poverty?

Is the solution to poverty as simple as giving a little bit of money to a large number of people? We may be about to find out. On New Year’s Day, India, the world’s largest democracy, launched what may become the most ambitious anti-poverty program in history. Called the Direct Benefit Transfer (DBT), the initiative will directly provide cash to poor families — at first more than 200,000 people, then potentially hundreds of millions — via the banking system. India’s finance minister has described it as "nothing less than magical." While there is no "magic" solution to development, DBT could revolutionize assistance to India’s roughly 350 million people living on less than 56 cents a day, the country’s official poverty line.

The move to cash transfers comes after decades of hand-wringing about India’s huge and wasteful system of in-kind subsidies. The government spends roughly $14 billion a year, or nearly 1 percent of its GDP, to buy food, fertilizer, and petroleum and distribute them to stores, where the eligible poor can purchase them at discounts, or to government offices, where products are handed out.

This outdated and inefficient system has been used for decades, largely because most of India’s poor lacked proper identification or bank accounts. But confusing rules on eligibility, poor administration, and corruption have made it a failure. A 2010 Asian Development Bank study found that not only did the subsidies bring little reduction in poverty, but shockingly, 70 percent of the beneficiaries were not even poor. A 2008 study by the University of Pennsylvania’s Devesh Kapur found that if the money spent on in-kind transfers in India were transferred directly India’s poor, it would lift them all out of poverty for that year.

And India’s poor really do need the leg up. In 2001, 54 percent of all Indian children were stunted; despite a decade of rapid economic growth that saw per capita income expand from $460 to $1,489, this number has only dropped to 48 percent. Twelve percent of children work. Roughly a fifth of girls are married by age 15. India’s long-term economic growth cannot be sustained without improving living standards for the poor.

Opposition politicians, however, are complaining that the government is moving too quickly. Sharad Pawar, the minister of agriculture and president of the opposition Nationalist Congress Party, mentioned problems with eligibility regarding outdated poverty lists; his party allies have said that because the documents are "based on old lists, half the poor will be written off." Others accused the government of enrolling beneficiaries only in districts that support the ruling party. The government has very slowly started phasing out parts of the in-kind subsidies program, but the current scale of the DBT might be too small to generate the bureaucratic momentum and visibility necessary for lasting policy change.

The new system will nonetheless be a huge improvement over the old. The simplest reason: Direct cash transfers work. In diverse settings, poverty-targeted cash transfers have been proven to reduce poverty, improve child nutrition, increase school attendance, and increase the purchase of productive assets such as fertilizer and tools. Evaluations of large cash-transfer programs in Ethiopia, Kenya, and Malawi show that the programs can be effective in increasing consumption, schooling, and nutrition, regardless of whether they are tied to such conditions as mothers keeping children in school. And a soon to be published study by Tufts University professor Jenny Aker shows that cash transfers in the near anarchic Democratic Republic of the Congo are both cheaper and better spent by the poor than in-kind subsidies.

Cash-transfer programs have been around since the mid-1990s; while not perfect, innovations introduced around the world have boosted their success rates. To prevent corruption and electoral politicking, the cash-transfer program in Mexico is prohibited from holding public events, enrolling new beneficiaries, or changing program designs during the six months prior to national and state elections. In Brazil, an overseeing body regularly cross-checks databases and randomly audits administrators and beneficiaries to remove ineligible and "ghost" beneficiaries from the rolls.

India’s new biometrics-based ID system makes a cash-based transfer program especially promising. The system assigns a unique number to Indian residents based on physical traits. Unlike many national identification projects, India’s does not require proof of citizenship or an application fee — barriers to entry that can exclude the poor. As of December 2012, 240 million Indians have received an ID number that allows cash-transfer payments through the banking system. It’s unknown what percentage of that group qualifies for assistance (and only 21 percent of Indian poor currently have bank accounts), but as expansion continues it will reach more and more of the country’s poor.

India already has successful conditional cash-transfer programs operating nationwide, the biggest of which is Janani Suraksha Yojana, which means "Women Protection Initiative." The program provides cash to pregnant women who deliver their babies in health-care facilities. A 2010 study found that the program, which reached 9.5 million women and had a budget of $342 million in 2009-2010, increased antenatal care by 11 percent and in-facility births by 44 percent — another system that shows that the best way to let poor people have more money is to give it to them.

Is the solution to poverty as simple as giving a little bit of money to a large number of people? We may be about to…

03/09/2017
India Together: The case of sustainable poverty in rural India: Devinder Sharma - 22 July 2015

~ The case of sustainable poverty in rural India
What emerges clear from the first ever socio-economic survey is that for 70 per cent of India’s 125-crore population, which lives in rural areas, poverty is the way of life.

Rural India is poorer than what was estimated all these years. With the highest income of an earning member in 75 per cent of the rural households not exceeding Rs 5,000 a month, and with 51 per cent households surviving on manual labour as the primary source of income, the socio-economic survey has exposed the dark underbelly of rural India. Whether it was Garibi Hatao or Shining India, all the talk of development has not enabled rural India to emerge out of poverty.

Whether we like it or not, poverty has remained robustly sustainable.

This socio-economic survey, undertaken for the first time in the country, defies all the tall claims made by successive governments on poverty reduction. Whichever way you measure it, and whichever way you decipher the survey findings as well as the emerging social trends, the extent of rural poverty exceeds all projections. The reason is obvious. All these years, the effort of mainline economists and policymakers has been to sweep rural poverty under the carpet. In fact, we were never honest in accepting the extent of poverty that existed in the country.

In what appears to be a damning indictment of the Five Year Plans, launched in 1951, as well as the economic reforms process that began in 1991, the first ever socio-economic survey has painted a dismal picture of rural India, says Devinder Sharma.

03/09/2017
Half of India’s under-18 population lives in poverty: Study

~ At least half of India’s under-18 population lives in acute poverty, reveals a “deeply disturbing” study from Oxford University.

Across the 103 low and middle-income countries surveyed, children were found to constitute 34 percent of the total population, but 48 percent of the poor, based on a measure that assesses a range of deprivations in health, education and living standards.

Across the 103 low and middle-income countries surveyed, children were found to constitute 34 percent of the total population, but 48 percent of the poor.

01/09/2017
India Takes on Fight Against Extreme Poverty - BORGEN

~ Why is a thriving India so important?

As of 2013, 33 percent of the world’s poorest 1.2 billion people lived in India. Thus, eradicating extreme poverty in India is the key to pulling a large percentage of the world’s poor toward prosperity.

Eradicating extreme poverty in India is the key to pulling a large percentage of the world’s poor toward prosperity.

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