Economy in India Term Paper Example | Topics and Well Written Essays - 1250 words

saving in India - Term Paper ExampleI, in this paper, discuss the economy of India through exploring the farmings macroeconomic indicators. Economic indicators Macroeconomics defines larger aspects of an economy. The factors are comprehensive and affect all overall state of an economy with change effects on all stakeholders in the economy. Examples of macroeconomic factors that offer a basis to reviewing the economy of India are domestic tax revenue reaping, unemployment, inflation, consumer price index, foreign direct investment, and international trade (Dwivedi). Gross domestic harvest-feast Gross domestic harvest-time is the monetary apprise of the amount of goods and usefulnesss that a country produces within an economic period, normally a year. It indicates productivity level of an economy and shows derivable benefits from the output. An economy with high gross domestic product idler therefore be associated with positive prospects and increasing trend in the time v alue identifies a growing economy that can offer investment opportunities and utilities among its citizens (Dwivedi 55). Indias gross domestic product is estimated at about $ 1867 billion, a value that is comparatively high. Prospects in the gross domestic product can however be understood from its trend. ... By April 2013, the countrys gross domestic product was estimated at $ 1867.4 billion, more than twice its value in 2005 and the constant trend predict continued expansion. This meaning that Indias economy has growth potentials and is therefore a viable economy for investment. The increasing productivity also means availability of commodity for utilities and employment opportunities (Exim Bank, 1). Closer evaluation of the countrys gross domestic product by the economys major firmaments identifies service industry as the major contributor of the countrys output as it accounts for more than 50 pct of Indias gross domestic product. industrial sector follows it before the agricu ltural sector and its associated activities. A time series trend in the sectors over the past eight years also offers significant insight into Indias economy. The percentage contribution by the agricultural sector has been decreasing while percentage contribution from the service sector has been increasing with significantly constant percentage contribution from the industrial sector. The agricultural sector and its allied activities generated more than 18 percent of the countrys gross domestic product in the year ended 2006 but the value reduced steadily to record about 14 percent in the year 2013. Contribution from the service industry however increased from less that 54 percent in the year ended 2006 to 58.4 percent in the year ended 2013 and this shows a shifting trend from agricultural activities to the service industry (Exim Bank, 1). another(prenominal) significant feature of the economys gross domestic product is the consumption and its trend. Private sector is the major co nsumer of the economys output and its consumption rate has a steadily increasing trend.