Indian Economy

General Knowledge

Introduction to Indian Economy Types of Economies Charactcteristics of Indian Economy

Agriculture and Land Development Agricultural Production Food Management Land Reforms Programmes

National Income Term Related to National Income Currency

Economic Planning Five Year Plans Planning Commission Models of Economic Development

Economic Planning Five Year Plans Types of Planning Planning Commission Models of Economic Development

Unemployment Employmen tRequirements Development and Employment Programmes Bharat Nirman Yojana and MNREGA Employment guarantee act, 2005 Important Development and Employment Programmes Rozgar Yojana Skill India and Startup India

Trade and Commerce

New Economic Policy Economic Reforms Important Terminology Relating to Economic Reforms

Indian Financial System Indian Capital Market Stock Exchange Indian Fiscal System Deficits Budget

Banking in India Banking Reforms Banking Types Reserve Bank of India (RBI) Demonetization Insurance National Pension Insurance Scheme

Tax System Important Taxes imposed in India Types of Tax GST

Industry New Industrial Policy, 1991 Public Sector Small Scale Industries Sick Industries Industrial Growth

Foreign Trade Trade Policy Foreign Exchange Reserves in India Trade Organisations Miscellaneous Facts

Industrial Growth

» The target growth of industry during the Tenth Plan (2002 - 07) was put at 10% consistent with an over all GDP growth 8%.
» According to the CSO's latest data, during 2006 - 07, (the last year of the 10th plan) the industrial growth stood at 10.0% compared to 9.6% in the corresponding period of 2005-06.
» Manufacturing production grew by 11.3% against 9.1%, electricity generation by 7.7% against 53% and mining out put by 4.5% against 3.6% between the last two consecutive years.
» Growth of industrial sector, from a low of 2.7% in 2001-02, revived to 7.1% and 7.4% in 2002-03 and 2003-04 respectively, and after accelerating to over 9.5% in the next two years, touched 10.0% in 2006-07.

Current Industrial Production

» The growth rate of Industrial Production, as per the Quick Estimates of Index of Industrial Production (TIP) with base year 1993-94, improved from an average of 5.0% per annum during 1997 2002 (9th Plan) lo 10.5% in 2009 - 10.
» India is the second largest manufacturer of cement in the world. Cement industry is one of the most advanced industries in the country.
» At present there are 156 large cement plants with an installed capacity of 233.94 million tonnes and more than 350 mini cement plants with an estimated capacity of 11.10 million tonnes per annum.
» The small scale, cottage and artisan sector account for over 75% of the leather production.
» More than 30% of the work force employed in this sector constitutes women.

Automobile Industry

» Automobile Industry was delicensed in July 1991 with the announcement of the New Industrial Policy.
» The passenger car was however delicensed in 1993.
» At present 100% Foreign Direct Investment (FDI) is permissible under automatic route in this sector including passenger car segment.
» The industry also offers substantial scope of employment with 4.5 lakh direct employment and about one crore indirect employment.

Steel

» Iron and steel Industry took birth in India in the year 1870 when Bengal Iron Woks Company established its plant at Kulti, West Bengal.
» Large scale iron and steel production was started in 1907 by TISCO, established at Jamshedpur (Jharkhand).
» As per the data from International Iron and Steel Institute (IISI) India is the 7th largest producer of steel in the world.
» At present India is the 9th largest Crude Steel producing country in the world.
» Today, India is the largest producer of sponge iron in the world.

Small Enterprises Sector

» The employment provided by the sector is estimated to be over 280 lakh persons at present.
» In recognition of this role, the SE sector had been assigned targets of 12% annual growth in production and creation of 44 lakh additional employment opportunities in the Tenth Five-Year Plan.

Micro, Small and Medium Enterprise Development Act, 2006

» Small and Medium Enterprise Development Bill 2005 (which was introduced in the Parliament on May 12, 2005) has been approved by the President and thus became an Act.
» This new Act, named as 'Small and Medium Enterprise Development Act, 2006' has become effective from October 2, 2006.
» This Act makes a different category for medium level enterprises.
» This Act provides the first-ever legal frame work for recognition of the concept of 'enterprise' (comprising both manufacturing and services) and integrating the three tiers of these enterprises, viz., micro, small and medium.

Indian Economy

Industrial Growth