Economy
The Indian economy is the fourth largest economy of the world on the basis of Purchasing Power Parity (PPP). It is one of the most attractive destinations for business and investment opportunities due to huge manpower base, diversified natural resources and strong macro-economic fundamentals. Also, the process of economic reforms initiated since 1991 has been providing an investor-friendly environment through a liberalised policy framework spanning the whole economy.
The current scenario of Indian economy has been characterised by optimistic growth and strong macro-economic fundamentals, particularly with tangible progress towards fiscal consolidation and a strong balance of payments position. Gross Domestic Product (GDP), at current market prices, is projected at Rs. 46,93,602 crore in 2007-08 by the Central Statistical Organisation (CSO) in its advance estimates (AE) of GDP. While, the GDP at factor cost, at constant 1999-2000 prices, is projected to grow at 8.7 per cent in 2007-08.
Progress in fiscal consolidation has been satisfactory in the post-Fiscal Reforms and Budget Management Act (FRBMA) period. The fiscal deficit of the Centre, as a proportion of GDP, came down from 5.9 per cent in 2002-03 to 3.4 per cent in 2006-07 and is estimated to further decline to 3.3 per cent in 2007-08 [Budget Estimate (BE)] (3.2 per cent based on revised GDP estimates). Similarly, the revenue deficit declined from 4.4 per cent in 2002-03 to 1.9 per cent in 2006-07 and is estimated to further decline to 1.5 per cent in 2007-08 (BE)
The setting up of this terminal and other projects of international significance would create a large pool of direct and indirect employment, infrastructure development, among other benefits. View Vypeen, India
Protect the Environment. Our Earth is in serious trouble!
The Natural Emerald Green, Colorful,
Underwater Paradise!
Ministry of
Rural Development
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