Tuesday, February 27, 2007

India saves and invests like never before! Track the subject for more excitement.Of course for the Exam too!

Savings and Investment

The overall growth of GDP during the second quarter of the current financial year (July to September) had stood at 9.2 per cent in comparison to 8.4 per cent in the corresponding quarter of the previous year. During the first quarter of 2006-07 (April to June), GDP growth had clocked 8.9 per cent. The earlier estimates of savings and investment in 2004-05 at 29.5 per cent and 30.5 per cent respectively had now been revised to 31.1 per cent and 31.5 per cent – the corresponding figures for 2005-06 have been placed at 33.4 per cent and 33.8 per cent.In other words, India is currently saving and investing roughly one-third of its total national income. Mr Chidambaram said his government’s policies had been evidently successful in promoting savings and investment

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