India was a typically backward economy at the time of Independence
in 1947. Due to poor technological and scientific capabilities,
industrialisation was limited and lop-sided. Agricultural sector
exhibited features of feudal and semi-feudal institutions,
resulting into low productivity. Means of transport and
communications were underdeveloped. Educational and health
facilities were grossly inadequate and social security measures
were virtually non-existent. In short, the country suffered from
the twin problems of rampant poverty and widespread unemployment,
both making for low general standard of living. After 65 years of
development efforts, India is presently one of world's fastest
growing economies. Lately, it has emerged as a global economic
power, the leading outsourcing destination and a favourite of
international investors. Exuding confidence in the future of the
Indian economy, Finance Minister P. Chidambaram in his Budget
Speech to the Parliament on 28 February 2013 observed, "We are the
tenth largest economy in the world. We can become the eighth, or
perhaps the seventh, largest by 2017. By 2025, we could become a
US$ 5 trillion economy, and among the top five in the world. What
we will become depends on us and on the choices that we make."
India is a Union of States with a federal set up. Politically, the
country is divided into 28 States and 7 Union Territories,
collectively called the Republic of India. India's diverse economy
encompasses traditional village farming, modern agriculture,
fisheries, handicrafts, a wide range of modern industries, and a
multitude of services. The Constitution of India, the longest and
the most exhaustive constitution of any independent nation in the
world, was adopted on 26 November 1949, and became operative on 26
January 1950. It provides for two layers of Government, one at the
Central level, and the other at the level of the States. A federal
polity of this kind requires division of powers and
responsibilities between the Centre and the States. Hence, the
Constitution describes in detail the legislative powers and
functions of the two tiers of Government. Part I of this book
provides sector-wise economic survey of India. The sectors covered
are: (a) human and natural resources, (b) poverty and economic
planning, (c) agriculture and rural development, (d) industry and
minerals, (e) infrastructure development and services, (f) fiscal
policy, (g) monetary policy and credit management, (h) financial
institutions and financial markets, (i) labour and employment, (j)
health security, (k) education and training, (l) empowerment of
disadvantaged, (m) environment policy, and (n) foreign trade and
investment. Part II is devoted to State-wise economic survey. All
the 28 states of India have been surveyed alphabetically. From the
largest to the smallest, each state has its own unique history,
culture, demography, and socio-economic objectives and challenges.
Hence, there are variations in their physical, social and economic
characteristics. Thus, Uttar Pradesh is the most populated state
with a headcount of 19.95 crore as per 2011 Census while Sikkim is
the least populated state with merely 6.1 lakh people. In terms of
area, Rajasthan is the largest with 3,42,239 square kilometres of
territory whereas Goa is the smallest state with only 3,702 square
kilometres of land. Similarly, Goa had the highest per capita net
state domestic product (NSDP) of ' 1,92,652 at current prices in
2011-12 while it was lowest for Bihar at ' 23,435 for the same
year. Likewise, Kerala ranked at the top in terms of Human
Development Index (HDI) with a score of 0.790 in 2011 while
Chhattisgarh was at the bottom with a score of 0.358, the national
average being 0.467. Part III presents economic survey of 7 Union
Territories, taken separately and in alphabetical order. Like
states, Union Territories also exhibit diverse physical features
and economic characteristics. Part IV contains socio-economic
statistics of States and Union Territories pertaining to
population, area, birth rate, death rate, infant mortality rate,
life expectancy, literacy rate, net state domestic product, per
capita net state domestic product, revenue receipts, and human
development index. Information contained in this book was collected
chiefly from publications and websites of various
Ministries/Departments of the Government of India, Planning
Commission of India, Reserve Bank of India (RBI), National Portal
of India, Insurance Regulatory and Development Authority (IRDA),
Securities and Exchange Board of India (SEBI), and official
websites of State Governments and Union Territories.
General
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