Lewes, DE -- (SBWIRE) -- 06/11/2019 -- Prime Minister Narendra Modi led government has secured a huge electoral mandate in general election 2019 and get a chance to serve the country for a second five-year term. But the government has difficult tasks ahead. India's economic growth will decide India's role in its subcontinent and world. Tackling the growing unemployment which is at a 45-year high; acute agrarian distress and weak banking system are the immediate challenges for Government.
India, officially the Republic of India, is a country in South Asia. It is the seventh-largest country by area, the second-most populous country with over 1.3 billion people, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the south-west, and the Bay of Bengal on the south-east, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north-east; and Burma and Bangladesh to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives, and in addition, India's Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia.
India had an estimated population of 1309.35 million in the year 2016 and expected to reach 1416.16 million by 2022. India's unemployment rate was 4.7% in 2012-13, which increased to 4.9% in 2013-14.
India's real gross domestic product (GDP) was around INR 121330.48 billion in 2016 whereas the nominal GDP was INR 151904.81 billion. This resulted in a GDP deflator 125.199. Per capita GDP was estimated at USD 1723.30 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 6615.78.
In 2016, the Indian government's revenue was INR 32399.13 billion whereas the expenditure was INR 42380.04 billion. This resulted in the Indian government's net lending / borrowing negative at INR 9980.90 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for India was negative and estimated to be at USD 20.858 billion for the year 2016 and is expected to grow at a CAGR of 20.38% and reach USD 80.901 by 2022. This negative current account balance indicates India is net borrower from the whole world.
Scope of India – PESTLE Analysis Report
- This report provides information about key macroeconomic indicators for India.
- This report provides PESTEL (political, economic, social, technological, environmental and legal) analysis for India.
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