Compare India (2008) - India (2007)

Compare India (2008) z India (2007)

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	India (2008)	India (2007)

Budget	revenues: $145.2 billion expenditures: $182.4 billion (2007 est.)	revenues: $97.16 billion expenditures: $128.7 billion (2006 est.)
Debt - external	$165.4 billion (30 June 2007)	$131.1 billion (2006 est.)
Economy - overview	India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. About three-fifths of the work force is in agriculture, leading the United Progressive Alliance (UPA) government to articulate an economic reform program that includes developing basic infrastructure to improve the lives of the rural poor and boost economic performance. The government has reduced controls on foreign trade and investment. Higher limits on foreign direct investment were permitted in a few key sectors, such as telecommunications. However, tariff spikes in sensitive categories, including agriculture, and incremental progress on economic reforms still hinder foreign access to India's vast and growing market. Privatization of government-owned industries remains stalled and continues to generate political debate; populist pressure from within the UPA government and from its Left Front allies continues to restrain needed initiatives. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. India achieved 8.5% GDP growth in 2006, and again in 2007, significantly expanding production of manufactures. India is capitalizing on its large numbers of well-educated people skilled in the English language to become a major exporter of software services and software workers. Economic expansion has helped New Delhi continue to make progress in reducing its federal fiscal deficit. However, strong growth combined with easy consumer credit and a real estate boom fueled inflation concerns in 2006 and 2007, leading to a series of central bank interest rate hikes that have slowed credit growth and eased inflation concerns. The huge and growing population is the fundamental social, economic, and environmental problem.	India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. About three-fifths of the work force is in agriculture, leading the UPA government to articulate an economic reform program that includes developing basic infrastructure to improve the lives of the rural poor and boost economic performance. The government has reduced controls on foreign trade and investment. Tariffs averaged 12.5% on non-agricultural items in 2006. Higher limits on foreign direct investment were permitted in a few key sectors, such as telecommunications. However, tariff spikes in sensitive categories, including agriculture, and incremental progress on economic reforms still hinder foreign access to India's vast and growing market. Privatization of government-owned industries remained stalled in 2006, and continues to generate political debate; populist pressure from within the UPA government and from its Left Front allies continues to restrain needed initiatives. The economy has posted an average growth rate of more than 7% in the decade since 1996, reducing poverty by about 10 percentage points. India achieved 8.5% GDP growth in 2006, significantly expanding manufacturing. India is capitalizing on its large numbers of well-educated people skilled in the English language to become a major exporter of software services and software workers. Economic expansion has helped New Delhi continue to make progress in reducing its federal fiscal deficit. However, strong growth - more than 8 percent growth in each of the last three years - combined with easy consumer credit and a real estate boom is fueling inflation concerns. The huge and growing population is the fundamental social, economic, and environmental problem.
Exchange rates	Indian rupees per US dollar - 41.487 (2007), 45.3 (2006), 44.101 (2005), 45.317 (2004), 46.583 (2003)	Indian rupees per US dollar - 45.3 (2006), 44.101 (2005), 45.317 (2004), 46.583 (2003), 48.61 (2002)
Exports - commodities	petroleum products, textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures	textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures
Exports - partners	US 17%, UAE 8.3%, China 7.7%, UK 4.3% (2006)	US 17%, UAE 8.3%, China 7.8%, UK 4.3% (2006)
GDP - composition by sector	agriculture: 16.6% industry: 28.4% services: 55% (2007 est.)	agriculture: 17.5% industry: 27.9% services: 54.6% (2005 est.)
GDP - real growth rate	8.5% (2007 est.)	9.4% (2006 est.)
Imports - partners	China 8.7%, US 6%, Germany 4.7%, Singapore 4.6% (2006)	China 8.7%, US 6%, Germany 4.6%, Singapore 4.6%, Australia 4% (2006)
Industrial production growth rate	10% (2007 est.)	7.5% (2006 est.)
Inflation rate (consumer prices)	5.9% (2007 est.)	6.2% (2006 est.)
International organization participation	ADB, AfDB, ARF, ASEAN (dialogue partner), BIMSTEC, BIS, C, CERN (observer), CP, EAS, FAO, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, ITUC, LAS (observer), MIGA, MONUC, NAM, OAS (observer), OPCW, PCA, PIF (partner), SAARC, SACEP, SCO (observer), UN, UNCTAD, UNDOF, UNESCO, UNHCR, UNIDO, UNIFIL, UNMEE, UNMIS, UNOCI, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO	AfDB, ARF, AsDB, ASEAN (dialogue partner), BIMSTEC, BIS, C, CERN (observer), CP, EAS, FAO, G- 6, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, ITUC, MIGA, MONUC, NAM, OAS (observer), ONUB, OPCW, PCA, PIF (partner), SAARC, SACEP, SCO (observer), UN, UNCTAD, UNDOF, UNESCO, UNHCR, UNIDO, UNIFIL, UNMEE, UNMIS, UNMOVIC, UNOCI, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	516.4 million (2007 est.)	506.9 million (2006 est.)
Languages	English enjoys associate status but is the most important language for national, political, and commercial communication; Hindi is the national language and primary tongue of 30% of the people; there are 21 other official languages: Assamese, Bengali, Bodo, Dogri, Gujarati, Kannada, Kashmiri, Konkani, Maithili, Malayalam, Manipuri, Marathi, Nepali, Oriya, Punjabi, Sanscrit, Santhali, Sindhi, Tamil, Telugu, and Urdu; Hindustani is a popular variant of Hindi/Urdu spoken widely throughout northern India but is not an official language	English enjoys associate status but is the most important language for national, political, and commercial communication; Hindi is the national language and primary tongue of 30% of the people; there are 14 other official languages: Bengali, Telugu, Marathi, Tamil, Urdu, Gujarati, Malayalam, Kannada, Oriya, Punjabi, Assamese, Kashmiri, Sindhi, and Sanskrit; Hindustani is a popular variant of Hindi/Urdu spoken widely throughout northern India but is not an official language
Pipelines	condensate/gas 9 km; gas 7,488 km; liquid petroleum gas 1,861 km; oil 7,883 km; refined products 6,422 km (2007)	condensate/gas 8 km; gas 5,184 km; liquid petroleum gas 1,993 km; oil 6,500 km; refined products 6,152 km (2006)
Population below poverty line	25% (2007 est.)	25% (2002 est.)
Telephone system	general assessment: recent deregulation and liberalization of telecommunications laws and policies have prompted rapid growth; local and long distance service provided throughout all regions of the country, with services primarily concentrated in the urban areas; steady improvement is taking place with the recent admission of private and private-public investors, but combined fixed and mobile telephone density remains low at about 20 for each 100 persons nationwide and much lower for persons in rural areas; fastest growth is in cellular service with modest growth in fixed lines domestic: mobile cellular service (both CDMA and GSM) introduced in 1994 and organized nationwide into four metropolitan areas and 19 telecom circles each with about three private service providers and one state-owned service provider; in recent years significant trunk capacity added in the form of fiber-optic cable and one of the world's largest domestic satellite systems, the Indian National Satellite system (INSAT), with 6 satellites supporting 33,000 very small aperture terminals (VSAT) international: country code - 91; a number of major international submarine cable systems, including Sea-Me-We-3 with landing sites at Cochin and Mumbai (Bombay), Sea-Me-We-4 with a landing site at Chennai, Fiber-Optic Link Around the Globe (FLAG) with a landing site at Mumbai (Bombay), South Africa - Far East (SAFE) with a landing site at Cochin, the i2i cable network linking to Singapore with landing sites at Mumbai (Bombay) and Chennai (Madras), and Tata Indicom linking Singapore and Chennai (Madras), provide a significant increase in the bandwidth available for both voice and data traffic; satellite earth stations - 8 Intelsat (Indian Ocean) and 1 Inmarsat (Indian Ocean region); 9 gateway exchanges operating from Mumbai (Bombay), New Delhi, Kolkata (Calcutta), Chennai (Madras), Jalandhar, Kanpur, Gandhinagar, Hyderabad, and Ernakulam	general assessment: recent deregulation and liberalization of telecommunications laws and policies have prompted rapid growth; local and long distance service provided throughout all regions of the country, with services primarily concentrated in the urban areas; steady improvement is taking place with the recent admission of private and private-public investors, but combined fixed and mobile telephone density remains low at about 20 for each 100 persons nationwide and much lower for persons in rural areas; fastest growth is in cellular service with modest growth in fixed lines domestic: mobile cellular service (both CDMA and GSM) introduced in 1994 and organized nationwide into four metropolitan areas and 19 telecom circles each with about three private service providers and one state-owned service provider; in recent years significant trunk capacity added in the form of fiber-optic cable and one of the world's largest domestic satellite systems, the Indian National Satellite system (INSAT), with 6 satellites supporting 33,000 very small aperture terminals (VSAT) international: country code - 91; a number of major international submarine cable systems, including Sea-Me-We-3 with landing sites at Cochin and Mumbai (Bombay), Sea-Me-We-4 with a landing site at Chennai, Fiber-Optic Link Around the Globe (FLAG) with a landing site at Mumbai (Bombay), South Africa - Far East (SAFE) with a landing site at Cochin, the i2i cable network linking to Singapore with landing sites at Mumbai (Bombay) and Chennai (Madras), and Tata Indicom linking Singapore and Chennai (Madras), provide a significant increase in the bandwidth available for both voice and data traffic; satellite earth stations - 8 Intelsat (Indian Ocean) and 1 Inmarsat (Indian Ocean region); 9 gateway exchanges operating from Mumbai (Bombay), New Delhi, Kolkata (Calcutta), Chennai (Madras), Jalandhar, Kanpur, Gandhinagar, Hyderabad, and Ernakulam (2006)
Unemployment rate	7.2% (2007 est.)	7.8% (2006 est.)

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