Ugc net Held on 28-08-2018

Ugc net Economics  

 India's Economic Landscape: A Snapshot with Numbers

India's economy has been a global beacon of resilience and growth in recent years. Despite facing various challenges, the country has consistently demonstrated its potential. Here's a look at some key economic indicators:

GDP Growth:

 * 2023-24: India's GDP is estimated to have grown at a robust rate of 7.2%.

 * Forecast: The International Monetary Fund (IMF) projects India's GDP growth to remain strong at 6.3% in 2024.

Inflation:

 * 2023: India's inflation rate has been relatively well-managed, with the Consumer Price Index (CPI) averaging around 5.5%.

 * Target: The Reserve Bank of India (RBI) has set an inflation target of 4% with a tolerance band of +/- 2%.

Unemployment Rate:

 * 2023: The unemployment rate in India has shown a slight improvement, but remains a significant concern.

 * Focus: The government has implemented various initiatives to address unemployment, including skill development programs and job creation schemes.

Trade Balance:

 * 2023: India's trade deficit has narrowed due to increased exports and efforts to reduce imports.

 * Focus: The government is promoting exports and encouraging domestic manufacturing to improve the trade balance.

Foreign Direct Investment (FDI):

 * 2023: India has continued to attract significant FDI inflows, indicating confidence in its economic prospects.

 * Sectors: Key sectors attracting FDI include technology, manufacturing, and services.

Fiscal Deficit:

 * 2023: The government has been working to reduce the fiscal deficit, although challenges remain.

 * Focus: Fiscal consolidation measures are being implemented to improve the government's finances.

Overall, India's economy is on a positive trajectory. While challenges such as unemployment and inflation persist, the country's strong fundamentals, coupled with government initiatives, position it for continued growth and development.

Note: These figures are based on available data as of [Date]. Economic indicators can fluctuate over time.