The General Insurance Corporation of India was incorporated in the year 1972 under the company’s act 1956 as a private company. In November 2000, the company was approved as the “Indian Reinsurer”. Since then the General Insurance Corporation of India has been providing reinsurance supports to public sector as well as to other private general Insurance Companies. [br]
CAC (Capital Account Convertibility) for Indian Economy refers to the abolition of all limitations with respect to the movement of capital from India to different countries across the globe. In fact, the authorities officially involved with CAC (Capital Account Convertibility) for Indian Economy encourage all companies, commercial entities and individual countrymen for investments, divestments, and real estate transactions in India as well as abroad.
The Agriculture Insurance Company of India Ltd.’ has been working under the companies act 1956 for the agriculture insurance in India. It is working with the capital sharing from the Agriculture Insurance In India constituting four general public sector insurance such as National Insurance Company, New India Assurance Company Ltd, Oriental Insurance Company Ltd, and United India Insurance Company Ltd and NABARD. [br]
Poverty in India is a major issue. Rural Indians depend on unpredictable agriculture incomes, while urban Indians rely on jobs that are, at best, scarce.
Since its independence, the issue of poverty within India has remained a prevalent concern. As of 2010, more than 37% of India’s population of 1.35 billion still lives below the poverty line. More than 22% of the entire rural population and 15% of the urban population of India exists in this difficult physical and financial predicament.
India’s fiscal sector reforms help to raise the rate of savings and investments in India, which further enhances the productivity of public expenditure.[br]
India’s debt situation focuses on the total amount of external debts taken by the nation in a particular year, its repayments as well as the outstanding debt amounts, if any.[br]
India in 2009 witnessed a surge of FIIs hedging on the nation’s growth prospects, and bringing in over $17.46 billion in domestic equities, according to the Securities and Exchange Board of India (SEBI) data as of December 31, 2009. This is the highest ever inflow of rupees in the country in a single year, breaking the previous high of $15.9 billion in 2007. The Bombay Stock Exchange’s benchmark, the Sensex, gained more than 70% in 2009, after falling by more than 90% in 2008. India’s share of the global FDI increased from 0.78% in 2005 to 2.45% in 2008.
The industrial production growth rate in December 2009 showed an improvement in the industrial output, a rise of 17.6% vis-à-vis the weak growth witnessed in the previous months. Growth in December 2008 was negative. Output in mining, manufacturing and electricity rose by 10.7%, 19.3% and 5.4%, respectively, in December 2009, as compared to 2.2%, -0.6% and 1.6% growth, respectively, in 2008. The basic goods market grew by 7.7%, intermediate goods market by 22.7% and capital goods by 13.2%.
India is an emerging economy which has witnessed unprecedented levels of economic expansion, alongside China, Russia, Mexico and Brazil. India is a cost effective and labor intensive economy, and has benefited immensely from outsourcing of work from developed countries, and has a strong manufacturing and export oriented industrial framework.
With India’s economic pace picking up, global commodity prices have staged a comeback from their lows and global trade has also seen healthy growth over the last two years.
