Indian Economy is basically an agriculture based economy. India is set to become the world’s fastest developing economy. The recent research says that India is expected to grow more than 6.5 percent in late 2015 and is projected to cross China in such figures.
India’s Macro-economic prospects are very well developed and have strengthened the position of the country in the global economies.
Here are five top facts about Indian Financial System you must know:
- Market Size
The government has grown up the GDP from 4.7 percent to 6.9 percent overall broadening the framework of national income. The revision in the base accounts will increase the size of the economy to almost Rs. 111 Trillion US$ in the financial year of 2014-2015.
The capital economics, an independent research company on macro-economic reforms released a recent report saying that the overall budget says that Indian economy is going to boost by 5.5 percent overall in the year 2015.
The expectations are prevalent that the Indian economy is going to have a great potential to become a US$ 4-5 trillion economy in the next 10-12 years.
- Investments and Developments
With the improvement in economic reforms and scenario, the investments have also increased over the years in India.
Some of the mentioned facts about the investments in India are mentioned below:
- The combined index of eight crore industries figured at 166.2 in last November 2014 and is expected to increase around 6.7 percent by the end of year 2015
- India has emerged as one of the strongest performers in the field of mergers and acquisitions in 2013 and as well as in 2014.
- The union cabinet has basically given approval to basically enhance the memorandum of understanding for strengthening its roots in the field of tourism between the ministry of tourism and government of India.
- India’s forex reserves touched a record of US$ 322 billion over all, surpassing the previous stats of US$321.
- FDI Route
The government has announced certain regulations regarding foreign investments is that the foreign investors are allowed to put as much as around Rs. 90,300 crore in India’s rail infrastructure in terms of purchasing power parity.
- Government Initiatives
India has actually developed into an economy of high performance and durability. The “Make in India” program launched by the PM with the aim to give Indian economy, a global tag and recognition. The initiative will basically increase the power of a common man in terms of purchasing power parity.
- Road Ahead
The recent research by the International Monetary Fund and the World Bank explains the growth rate in India by 6.4 percent by end of 2015 because of the confidence of India’s performance in the economic reforms undertaken by the government.
India could basically become the world’s seventh biggest nation in terms of private wealth with a 150 percent overall increase in private wealth.
The Make in India program is in fact the best programs launched by the Modi Government that has led to overall economic growth and development in nation.