Economy Chapters

1. Economy and Economics2. Characteristics of Indian Economy3. Agriculture and Land Development4. National Income5. Planning6. Unemployment7. Trade and Commerce8. New Economic Policy9. Indian Financial System10. Indian Fiscal System11. Banking in India12. Tax System13. Industry14. Foreign Trade15. Glossary of Economic and Financial Terms16. Some Noteworthy Facts17. Socio Economic and Caste Census 2011

Some Noteworthy Facts

Interesting and important facts related to the Indian Economy and Economics.

  • India is the world’s fifth-largest economy by nominal GDP as of 2025.
  • Agriculture employs nearly 42% of the Indian workforce, but contributes about 17-18% to GDP.
  • The service sector contributes over 55% to India's GDP, making it the largest sector.
  • India is the largest producer of milk in the world, supporting rural economy.
  • Financial inclusion programs like Jan Dhan Yojana have opened over 450 million bank accounts.
  • India has one of the youngest populations globally, with a median age of around 28 years.
  • The Goods and Services Tax (GST) was implemented nationwide in 2017, unifying multiple indirect taxes.
  • India’s startup ecosystem is the third largest in the world, with over 100,000 startups.
  • Renewable energy capacity in India has crossed 160 GW, making it one of the top renewable energy producers globally.
  • India ranks third globally in terms of total foreign exchange reserves.
  • Micro, Small, and Medium Enterprises (MSMEs) contribute nearly 30% to India’s GDP and 45% to exports.
  • India has a multi-tier banking system including the Reserve Bank of India (RBI), commercial banks, cooperative banks, and regional rural banks.
  • The Reserve Bank of India was established in 1935 and nationalized in 1949.
  • India’s external debt stood at around USD 600 billion as of early 2025, with a stable debt-to-GDP ratio.
  • Financial literacy initiatives have increased awareness, with around 80% of adults having some knowledge of financial products.
  • India is a major exporter of IT and software services, generating significant foreign exchange.
  • The rural economy accounts for more than 70% of India’s population but less than half of GDP.
  • India’s inflation rate averaged around 5% over the last five years, with RBI targeting a 4% midpoint.
  • The government’s expenditure on social welfare schemes has increased significantly in recent years.
  • India ranks among the top countries in digital payment adoption, with UPI transactions crossing trillions monthly.
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