Indian Economy

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INDIAN ECONOMY
India is today one of the six fastest growing economies of the world. The country ranked fourth in terms of Purchasing Power Parity (PPP) in 2001. The business and regulatory environment is evolving and moving towards constant -improvement. A highly talented, skilled and English-speaking human resource base forms its backbone.
The Indian economy has transformed into a vibrant, rapidly growing consumer market, comprising over 300 million strong middle class with increasing purchasing power. India provides a large market for consumer goods on the one hand and imports capital goods and technology to modernize its manufacturing base on the other.
An abundant and diversified natural resource base, sound economic, industrial and
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It is the Central Bank of India. It was nationalist on January 1, 1949. Again on July 19, 1969 fourteen big commerce banks were nationalised.
Export-Import Bank (Exim Bank) was established in 1982 to provide funds to exporters and importers. The one rupee note bears signature of the Secretary, Ministry of Finance Govt, of India, whereas the remaining notes bear the signature of the Governor of the Reserve Bank of India (RBI). The main function of Reserve Bank of India is to control the monetary policy of the country and exchange rate of Indian currency. Awadh Commercial Bank was the first wholly nutritional standards of daily caloric intake of 2400 calories. Timercial bank which was established in 1880. The Punjab National in rural e a 2100 calories per person in urban areas are said to H bank was established in 1894. Indian Life Insurance Corporation was living below the poverty line.

Taxes-
Taxes can be levied either directly or indirectly.
Direct Taxes-
Income tax and corporation tax are two main direct taxes.
Indirect Taxes-
Central excise duty and customs duty are two I main indirect taxes.
Bank Rate-
It is the rate of interest charged by the Reserve bank of India for lending money to commercial banks.
Deflation-
A state of decrease in money circulation resulting ir Prices and unemployment.
Black Money-
It means unaccounted money, concealed income undisclosed wealth. In order to evade taxes some people falsify their accounts
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