India Infrastructure Economy - 1876 Words

INDIA ECONOMY INFRASR+TRUCTURE OVERVIEW India is rich in natural resources and manpower and has made significant economic progress since attaining independence in 1947. Indias economy encompasses traditional village farming, forestry, fishing, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of support services. Economy transformed from primarily agriculture, forestry, fishing, and textile manufacturing in 1947 to major heavy industry, transportation, and telecommunications industries by late 1970s. Central government planning in 1950 through late 1970s giving way to economic reforms and more private-sector initiatives in 1980s and 1990s. A sophisticated industrial base has been created and a large†¦show more content†¦- partners: US, Hong Kong, UK, Germany Imports - commodities: crude oil and petroleum products, machinery, gems, fertilizer, and chemicals. - partners: US, Belgium, Germany, Kuwait, Saudi Arabia, UK, Japan Deficit Trade Statistic (1990-1995) in Billions Rupee (Rs) 1990/1991 1991/1992 1992/1993 1993/1994 1994/1995 Export 325.53 440.41 536.88 697.51 826.74 Import 431.98 478.51 633.75 731.01 899.71 Deficit 106.45 38.10 96.87 33.50 72.97 GDP 4,778.14 5,527.68 6,301.82 7,231.03 8,541.03 Deficit as % of GDP 2.2% 0.69% 1.54% 0.47% 0.85% Foreign Economic Aid - Most aid provided by consortium such as: World Bank, Asia Development Bank (ADB), OPEC, Aid to India Consortium and Japan Indias largest aid granter and lender - $337 million grants and $2.4 billion loans between period 1984-1993. Tax Structure  § Business Tax : Corporate Income Tax : 40% Dividend Tax : 25% Royalty Tax : 30% Interest on loans tax : 25%  § Personal Income Tax : Rs 0 Ââ€" Rs 35,000 : 0% Rs 35,000 Ââ€" Rs 60,000 : 20% Rs 60,000 Ââ€" Rs 120,000 : 30% Rs 120,000 more : 40%  § Capital Gain Tax Individual : 20% (Flat rate) Corporation Long term : 30% (more than 3 years) Short term : 20% (less than 3 years) INFRASTRUCTURE Electricity Since independence, India has seen a phenomenal growth in installed capacity and electricity generation (mainly thermal, hydroelectric and nuclear). Total installed capacity is 83,288MW. 65% is owned and operated by the State Electricity BoardsShow MoreRelatedThe Problem Of The Internet807 Words   |  4 Pagesmight not work efficiently in India, neither in culture nor technological method. For cultural reason, religion would be the first cause which makes extremely negative effect for expanding internet service in India. 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