Economic Data 2016: #SNAP #IIFT #XAT #MBA Entrance #CLAT #LAW Entrance

Economic Data
1. GDP size: $2.29 trillion (nominal; 2016)
$8.64 trillion (PPP; 2016) [By IMF]
2. GDP rank: 7th (Nominal) / 3rd (PPP)
3. GDP growth: 7.2% (2014), 7.6% (2015e),
4. GDP per capita: $1,820 (nominal; 129th; 2016)
$6,664 (PPP; 108th; 2016) [By IMF]
5.GDP by sector:
(i) Agriculture: 16.1%
(ii) Industry: 29.5%
(iii) Services: 54.4%
6. Main industries: Software, petroleum products, chemicals, pharmaceuticals, agriculture, textiles, steel, transportation equipment, machinery, leather, cement, mining and construction.
7. Ease-of-doing-business rank: 130/189 countries (2016)
8. Export goods: software, petrochemicals, agriculture products, Jewellery, engineering goods, pharmaceuticals, textiles, chemicals, transportation, ores and other commodities.
9. Import goods: crude oil, gold and precious stones, electronics, engineering goods, chemicals, plastics, coal and ores, iron and steel, vegetable oil and other commodities
10. Public debt: 66.5% of GDP (2016) 11. Foreign reserves: $366.77 billion (as of 26 August 2016) 12. Repo Rate: 6.25 % 13. Reverse Repo Rate: 5.75 %
11. Foreign reserves: $366.77 billion (as of 26 August 2016)
12. Repo Rate: 6.25 % 13. Reverse Repo Rate: 5.75 %
14. Marginal Standing Facility Rate: 6.75%
15. Bank Rate: 6.75%
16. CRR: 4%
17. SLR: 20.75%
18. Fiscal Deficit is 4 per cent of GDP for the 2015-16 and 3.9 percent targeted in 2016-17.
Details of FDI Investments in Various Sectors
Ø  India today has been rated as Number 1 FDI Investment Destination by several International Agencies.
(A) Sectors with Restrictions 
·         Lottery Business including Govenunentrprivate lottery, online lotteries, etc
·         Gambling and Betting including casinos etc.
·         Chit funds
·         Nidhi company-(borrowing from members and lending to members only).
·         Trading in Transferable Development Rights (TDRs)
·         Real Estate Business (other than construction development) or Construction of Farm Houses
·         Manufacturing of Cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes
·         Activities sectors not open to private sector investment e.g. Atomic Energy and Railway Transport (other than construction, operation and maintenance of (i) Suburban corridor projects through PPP, (a) High speed train projects, (iii) Dedicated freight lines, (iv) Rolling stock including train sets, and locomotives/coaches manufacturing and maintenance facilities, (v) Railway Electrification, (vi) Signaling systems, (vii) Freight terminals (viii) Passenger terminals, (ix) Infrastructure in industrial park pertaining to railway line'sidings including electrified railway lines and connectivity to main railway line and (x) Mass Rapid Transport Systems.)
·         Services like legal, book keeping, accounting & auditing.
(B) Permitted Sectors:
·         Foreign Investment in Defence Sector up to 100%
Ø  Foreign investment beyond 49% has now been permitted through government approval route, in cases resulting in access to modem technology in the country or for other reasons to be recorded.
Ø  FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under Arms Act 1959.
·         Teleports, Direct to Home, Cable Networks, and Headend-in-the Sky Broadcasting Service(100% automatic)
·         Pharmaceutical:
Ø  100% FDI under automatic route in Greenfield pharma.
Ø  FDI up to 100% under government approval in brownfield pharma. With the objective of promoting the development of this sector, it has been decided to permit up to 74% FDI under automatic route in brownfield pharmaceuticals and government approval route beyond 74% will continue.
·         Civil Aviation Sector:
Ø  A 100% FDI under automatic route in Airports Greenfield Projects.
Ø  74% FDI in Brownfield Projects under automatic route. FDI beyond 74% for Brownfield Projects is under government route.
Ø  100% FDI in Air Transport Service, Domestic Scheduled Passenger Airline and regional Air Transport Service (49% automatic route beyond 49% through Government approval)
Ø  A For NRIs, 100% FDI will continue to be allowed under automatic route.
·         Private Security Agencies:
Ø  FDI up to 49% is now permitted under automatic route in this sector and FDI beyond 49% and up to 74% would be permitted with government approval route.
·         Agriculture
Ø  FDI in Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture and Apiculture is allowed 100% under Automatic Route under controlled conditions.
Ø  Development and Production of seeds and planting material
Ø  Services related to agro and allied sectors
Note: Besides the above, FDI is not allowed in any other agricultural sector/activity
• Plantation Sector
Ø  Tea Coffee Rubber Cardamom, Palmand Olive oil tree plantations (100% under Automatic Route)
Ø  Besides the above, FDI is not allowed in any other plantation sector/activity.
·         100% FDI through automatic Route in Mining and Exploration of metal and non-metal ores; Coal & Lignite.
·         100% FDI through automatic Route in Petroleum & Natural Gas
·         100% FDI through automatic Route in Construction Development: Townships, Housing, Built-up Infrastructure.
·         100% FDI through automatic Route in Industrial Parks -new and existing.
·         100% FDI through government Route in Satellites- establishment and operation, subject to the sectoral guidelines of Department of Space/ISRO.
·         100% FDI (automatic up to 49% and government route beyond 49%) in Telecom Services
·         (Including Telecom Infrastructure Providers.
·         100% FDI through automatic Route in Cash & Carry Wholesale Trading: Wholesale Trading (including sourcing from MSEs).
·         100% FDI through automatic Route in E-commerce activities
·         100% FDI (automatic up to 49% and government route beyond 49%) in Single Brand product retail trading.
·         51% FDI Cap through government route in Multi Brand Retail Trading.
·         100% FDI through automatic Route in Duty Free Shops.
·         100% FDI through automatic Route in Railway Infrastructure.
·         74% FDI cap in Banking- Private Sector (Automatic up to 49% government route beyond 49% and up to 74%).
·         20% FDI cap in Banking- Public Sector (through government route)
·         49% FDI cap in Infrastructure Company in the Securities Market (automatic route)
·         49% FDI cap in Insurance and Pension Sector (automatic route)
·         49% FDI cap in Insurance and Pension Sector (automatic route)
·         49% FDI cap in Power Exchanges (automatic route).
·         100% FDI through automatic Route in White Label ATM Operations.
·         100% FDI through automatic Route in Non-Banking Finance Companies (some activities).

Note: According to FIN Policy Circular of 2016 (From June 07, 2016)