SOME IMPORTANT DATA ABOUT INDIAN ECONOMY-

• Agriculture is the largest private sector in India.Almost 65-70% of the total population of our
country is directly or indirectly dependent on agriculture sector, therefore Indian economy is
considered as agrarian economy.

• Agriculture is considered to be the backbone of Indian Economy. Contribution in employment

is around- 48.9%, which means almost 50% of the total labour force getting their
employment form this single sector.

• Contribution of agriculture in national income is around 18.3% in 2022-23.

• India is on the track to be the largest populous country in the world, with its population
estimated to touch 142.86 crore by the middle of this year.

• As per census 2011- India covers 1/6 th of total world population.

• As per census 2011- population growth rate -1.76% P. A

• As per Census 2011- Population density- 382 per Sq Km

• 2021 census will be carried out in 16 languages. In February 2021, Union Finance
Minister Nirmala Sitharaman confirmed in her budget speech that 2021 census will be first
ever digital census in India. The Finance Minister allocated ₹ 3,768 crore for carrying out
the census in 2021 Union budget of India. It has been delayed due to the COVID-19
pandemic in India.

• According to a committee headed by former Reserve Bank governor C Rangarajan, there

were 363 million people, or 29.5% of India’s 1.2 billion people, who lived in poverty in
2011-12. The Rangarajan panel considered people living on less than Rs. 32 a day in rural
areas and Rs. 47 a day in urban areas as poor.

Highest poverty- Bihar. Lowest poverty-Kerala according to NITI Aayog MPI

• Unbalanced economic development:

This theory was propounded by P. B Singer.

A situation in which economic growth is significantly higher in some sectors than others.

Indian being a developing economy adopted unbalanced growth theory because here the
growth of the service sector is highest where most of the population of our country is
dependent upon agriculture sector for occupation.

• Big push theory:

It is a theory which was propounded by R. Rodan to break the vicious circle of poverty .
Main Features of the Theory of Big Push:
The principal features of the theory of Big Push are given below:
o Massive Investment
o Investment in Different Sectors
o Planned Industrialisation
 In India the idea of Big push theory was adopted in second five year where most important
industries of Bhilai, Durgapur, and Rourkela were established with the help of U.S.S.R,
Great Britain and Germany respectively.

• HDI Value Chart-

0.800-1.000 implies Very High HDI

0.700- 0.799 implies High HDI
0.555-0.699 implies Medium HDI
0.350- 0.554implies Low HDI

• United Nations Development Programme (UNDP) has published its Human Development
Index (HDI) report for 2021-22, noting that for the first time in 32 years that the UN agency
has been calculating HDI, the index declined globally for two straight years.
• The report, titled ‘Uncertain Times, Unsettled Lives: Shaping our Future in a
Transforming World’, and released on September 8, also stated that more than 90%
countries saw a decline in their HDI score in either 2020 or 2021, while over 40% nations
declined in both the years.
• A total of 191 countries were analysed under this exercise.
• India, with an HDI score of 0.633, stood at 132, a spot down from its position in the 2020-21
rankings, when it scored 0.645. The study attributed this drop to failing life expectancy in the
world's fifth-largest economy (69.7 to 67.2 years).
• At 73 and with index value of 0.782, Sri Lanka emerged as the best performer from the Indian
sub-continent. European states were among the best overall performers, with as many as 8 in
the top 10 of the list. The only two Non- European members among the top 10 were- Hong-
Kong & Australia. Newly added countries- Chad (190th)& South Sudan (191st).

Name of the country Rank HDI value

Switzerland 1 0.962
Norway 2 0.961
Iceland 3 0.959
Hong Kong 4 0.952
China 79 0.768
Bhutan 127 0.666
India 132 0.633 ( Medium level of HDI)
✓ Life expectancy at
birth (years)-67.2
✓ Expected years of
schooling (years)-
11.9
✓ Mean years of
schooling (years)-6.7
✓ Gross National
Income (GNI) per
capita(PPP $)- USD
6,590.

Bangladesh 129 0.661

Nepal 143 0.602
Myanmar 149 0.585
Pakistan 161 0.544
 South Sudan 191 0.385

• India Human Development Report 2002-

Basically the first National HDR for India was published in 2002 by Panning Commission.

First state- Kerala. Last state- Orissa.

Rank of West Bengal- 8th.

• India Human Development Report 2011-

But the National HDR was published on December 2011 by Institute of Applied Manpower
Research , Planning Commission & Government of India.

Leader- Santosh Mehrotra

(Institute of Applied Manpower Research is presently known as National Institute of Labour

Economics Research and Development. It is an autonomous institute under NITI Aayog)

First state- Kerala (HDI value- 0.790)

Last state- Chhattisgarh (HDI value- 0.358)

West Bengal- (HDI value- 0.492) -Rank- 13

• India Human Development Report 2019-

First state- Kerala (HDI value- 0.782)

Last state- Bihar (HDI value- 0.574)

West Bengal- (HDI value- 0.641 -Rank- 28

• West Bengal Human Development Report 2004-

Basically the first HDR for West Bengal was published in 2002.

But the last HDR for WB was published by Development and Planning Department of WB .

First District- Kolkata- (HDI value- 0.78)

Last District- Malda- (HDI value- 0.44)

• Sustainable development -Sustainable development can be defined as development that

meets the needs of the present without compromising the ability of future generations to meet
their own needs.

The “official” definition of sustainable development was developed for the first time in
the Brundtland Report in 1987.
 Specifically, sustainable development is a way of organizing society so that it can exist in the
long term. This means taking into account both the imperatives present and those of the
future, such as the preservation of the environment and natural resources or social and
economic equity.

• Inclusive growth –

▪ Inclusive growth means economic growth that creates employment opportunities and
helps in reducing poverty.
▪ It means having access to essential services in health and education by the poor. It
includes providing equality of opportunity, empowering people through education and
skill development.
▪ It also encompasses a growth process that is environment friendly growth, aims for
good governance and helps in creation of a gender sensitive society.
▪ As per OECD (Organisation for Economic Co-operation and Development), inclusive
growth is economic growth that is distributed fairly across society and creates
opportunities for all.

Measures Taken India to Achieve Inclusive Growth-

Several schemes are being implemented by the government for inclusive growth which
includes the following:

o Mahatma Gandhi National Rural Employment Guarantee Act Scheme

(MGNREGA)
o Prime Minister’s Employment Generation Programme (PMEGP)
o Mudra Bank scheme
o Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)
o Deendayal Antyodaya Yojana- National Urban Livelihoods Mission
(DAY-NULM)
o Sarva Siksha Abhiyan (SSA)
o National Rural Health Mission (NRHM)
o Bharat Nirman
o Swachh Bharat Mission
o Mission Ayushman
o Pradhan Mantri Jan Dhan Yojana
Measuring Inclusive Growth-

▪ Inclusive Development Index (IDI)

▪ Social Progress Index (SPI)

▪ Global Slavery Index