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ABOUT INDIA
◦ India
◦ Country in South Asia
◦ Description
◦ India, also known as the Republic of India, is a country in South Asia. It
is the seventh largest country by area and with more than 1.3 billion
people, it is the second most populous country as well as the most
populous democracy in the world.
◦ Population: 133.92 crores (2017) Trending, World Bank
◦ Capital: New Delhi
◦ President: Ram Nath Kovind
◦ Prime minister: Narendra Modi
◦ President: Ram Nath Kovind
◦ inflation rate is 5.24%
◦ India’s exports may jump 20% in current fiscal 2018-19 to $350 billion
◦ Unemployment Rate - 6.1 %
◦ Language- HINDI ,ENGLISH, GUJRATI, HINDUSTANI , SINDHI , URDU
,SANSKRITI, MAITHILI, PUNJABI , KANNADA , MALAYALAM, BENGALI ,
TELUGU , TAMIL
◦ Religion- Hinduism , Islam , Christianity , Sikhism, Buddhism, and
◦ Jainism , Zoroastrianism, Judaism, and Baha’I Faith
◦ GDP – 7.3%
◦ Currency- RUPEE
Political outline
◦ Type of State
◦ India is a federal Republic state based on
parliamentary democracy.
◦ Executive Power
◦ The President is the Chief of State and is elected by
an electoral college consisting of elected members
of both houses of Parliament and the legislatures of
the provinces for a five-year term.
The Prime Minister is the head of Government and is
chosen by parliamentary members of the majority
party, following legislative elections, to serve a term of
five years. The President, on the recommendation of
the Prime Minister, appoints the Cabinet.
◦ Legislative Power
◦ The legislature is bicameral. The Parliament consists of:
Council of States and the People's Assembly. People
of India enjoy considerable political rights.
◦ Main Political Parties
◦ - Bharatiya Janata Party (BJP): right-wing, pro-Hindu,
nationalist ideology; heads the National Democratic
Alliance (NDA) coalition; more than doubled its
number of seats in the 2014 elections, securing its first
majority victory;
- Indian National Congress (INC): centre-left; a major
party involved in the independence movement;
heads the United Progressive Alliance (UPA)
opposition coalition; recently suffered from a number
of corruption scandals and accusations of economic
mismanagement
◦ Bahujan Samaj Party (BSP): India's third major
Politics political party whose electorate is mainly
composed of Dalits and low castes.
◦ Other notable parties:
- All India Anna Dravida Munnetra
Kazhagam (AIADMK): centrist
- All India Trinamool Congress (AITC): centre-
left
- Biju Janata Dal (BJD): centre-left
- Shiv Sena (SS): far-right
- Telugu Desam Party (TDP)
- Telangana Rattrap Samithi (TRS)
◦ -Communist Party of India (CPI)
◦ - Nationalist Congress Party (NCP)
◦ Current Political Leaders:
◦ President: Ram Nath Kovind (since July 2017) -
BJP
Prime Minister: Narendra Damodardas Modi
(since 26 May 2014) – BJP
◦ Next Election Dates
◦ Presidential: July 2022
Legislative elections: April to May 2019
ECONOMIC FACTOR
The economy of India is a developing
mixed economy. It is the world's seventh-
largest economy by nominal GDP and the third-
largest by purchasing power parity (PPP). ... India has
become a major exporter of IT services, Business
Process Outsourcing (BPO) services, and software
services with $154 billion revenue in FY 2017.
◦ The World Bank released its latest Doing Business Report(DBR, 2019) today in New Delhi. India has
recorded a jump of 23 positions against its rank of 100 in 2017 to be placed now at 77thrank among 190
countries assessed by the World Bank. India'sleap of23 ranks in the Ease of Doing Business ranking is
significant considering that last year India had improved its rank by 30 places, a rare feat for any large
and diverse country of the size of India. As a result of continued efforts by the Government, India has
improved its rank by 53 positions in last two years and 65positions in last four years.
◦ The Doing Business assessment provides objective measures of business regulations and their
enforcement across 190 economies on ten parameters affecting a business through its life cycle. The DBR
ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of aneconomy to
the global best practice. This year, India’s DTF score improved to 67.23 from 60.76 in the previous year.
◦ India has improved its rank in 6 out of 10 indicators and has moved closer to international best practices
(Distance to Frontier score) on 7 out of the 10 indicators. But, the most dramatic improvements have
been registered in the indicators related to 'Construction Permits' and 'Trading across Borders'. In grant of
construction permits, India's rank improved from 181 in 2017 to 52in 2018, an improvement of 129 ranks in
a single year. In 'Trading across Borders', India's rank improved by 66 positions moving from 146 in 2017 to
80in 2018. The changes in six indicators where India improved its rank are as follows:
S.no Indicator 2017 2018 changes
4 Getting Credit 29 22 +7
5 Getting Electricity 29 24 +5
Labour law
express the socio-political views of
leaders such as Nehru from pre-1947
independence movement struggle.
◦ The current mosaic of Indian laws on
employment are thus a combination of
India's history during its colonial
heritage, India's experiments with
socialism, important human rights and
the conventions and standards that
have emerged from the United
Nations.
◦ The laws cover the right to work of
one's choice, right against
discrimination, prohibition of child
labour, fair and humane conditions of
work, social security, protection of
wages, redress of grievances, right to
organise and form trade unions,
collective bargaining and participation
in management.
Labor acts
◦ Workmen's Compensation Act of 1923
◦ Trade Unions Act of 1926
◦ Payment of Wages Act of 1936
◦ Industrial Employment (Standing orders) Act of 1946
◦ Industrial Disputes Act of 1947
◦ Minimum Wages Act of 1948
◦ Industries (Regulation and Development) Act of 1951
◦ Employees Provident Fund and Miscellaneous Provisions Act of 1952
◦ Maternity Benefit Act of 1961
◦ Payment of Bonus Act of 1965
◦ Payment of Gratuity Act of 1972
INDIA Inflation Rate
Corporate Tax
◦ Corporate Tax Rate in India
◦ The rate of corporate tax in India varies
from one type of company to another
Surcharge on Surcharge on Net
Surcharge on i.e. domestic corporations and foreign
Net Income Income greater
Type of
Company
Corporat
e Tax
lower than Rs. than Rs. 1 Crore
Net Income
Less than Rs. 10
corporations pay tax at different rates.
1 crore and less than Rs.
Crore
10 Crore ◦ Additionally, depending on the type of
corporate entity and the different
revenues earned by each of them, the
Domestic with
corporation tax rate differs based on a
annual turnover 25% Nil 7% 12% slab rate system.
upto Rs 250 Crore
◦ Presently for the assessment year 2019-
2020, the corporation tax rates in India
Domestic with
annual turnover
are as follows:
30% Nil 7% 12%
of more than Rs
250 Crore
◦ In recent years, India exported mostly: pearls, precious and semi-precious stones and
jewelry (16 percent of total shipments); mineral fuels, oils and waxes and bituminous
substances (12 percent); vehicles, parts and accessories (5 percent); nuclear reactors,
boilers, machinery and mechanical appliances (5 percent); pharmaceutical products
(5 percent); and organic chemicals (4 percent).
◦ India’s main export partners are: United States (15 percent of the total exports), United
Arab Emirates (11 percent), Hong Kong (5 percent), China (4 percent), Singapore (4
percent) and United Kingdom (3 percent).
◦ India Exports - actual data, historical chart and calendar of releases - was last updated
on April of 2019.
Import Rate
◦
Imports to India rose 1.44 percent from a year earlier to USD 43.44 billion in March 2019,
due mainly to purchases of oil (5.55%), while declines were seen in major commodity
groups: coal, coke & briquettes (-14.85%); organic & inorganic chemicals (-6.35%);
machinery, electrical & non-electrical (-5.74%); electronic goods (-5.69%); and pearls,
precious & semi-precious stones (-1.03%).
◦ Considering April to March 2018-19, imports increased 8.99 percent to USD 507.44 billion
from USD 465.58 billion in the same period of the previous fiscal year.
◦ Imports in India averaged 8085.18 USD Million from 1957 until 2019, reaching an all time
high of 45281.90 USD Million in May of 2011 and a record low of 117.40 USD Million in
August of 1958.