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Economy

The 2013 Economic Survey In Charts

The Economic Survey is a vast and extremely detailed document that contains a lot of information if anyone bothered to read through it, but most people don’t. I won’t pretend to either, even though I think I get to read a lot of it. Here is the summary in graphs taken from the site.

GDP Growth Falls to 5%

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Key takeaway: Both Industry and Agriculture have dwindled in their contribution to GDP growth.

Investment Drops and Projects Stall

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You’ve got

India’s Slowing but Growth Rate Still Russia, Brazil and The West

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(China’s still ahead)

LPG Subsidies: The Rich Hog Them

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More than 52% of the LPG subsidy in rural areas are taken by the rich (top 20% earners) while the bottom 20% in income get only 0.07%. In Urban areas, the poorest get only 8%, but the subsidy gets distributed equally among the rest.

The Financial Sector is the Most Productive

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I consider Real Estate to now be part of the financial sector of course.

85% of Indian Jobs are in the “Informal” sector

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(I suppose they’re allowed to wear Jeans to work)

Huge Current Account Deficit, Saved by Capital Inflows and Services

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(This might improve, as the dollar gets stronger)

More tomorrow. I hope this has helped! All the best for the budget.