- Key Indicators
Population & Economy
In 2060, India will be the most populated nation in the world with 1.6537 billion
China & India are world's most populated
nations with bulk of people residing near major river basins.
India’s population clocked 1.2521 billion
in 2013, making it the second most populated nation after China.
Forecasters predict that by year 2025, India’s
population will equal China at 1.4295 billion and by year 2060; India will be the
most populated nation in the world with 1.6537 billion people ( (FS Pardee Center
for International Futures, 2014).
The Indian state of Uttar
Pradesh, home to more than 200 million people would rank 5th on the list of most-populated
countries, if it were an independent country.
In 2013, Indian economy ranked second on the GDP growth rate table at 5.02 percent,
after China’s 7.67 percent (The World Bank, 2015).
In 2013, global GDP growth rate, a key
World Bank indicator, is a percentage change of real GDP compared to previous year,
where real GDP is adjusted for inflation, was 2.25 percent while GDP growth rate
of South Asia among regional economies was highest at 5.04 percent (The World Bank,
TOP 5 NON-PLAN EXPENSE HEADS VS. GOVT. SUBSIDIES
The classification of expenditure
incurred by Govt. of India has evolved into two components; Non-plan and Plan, and
the bulk of plan expenditure is revenue driven.
Non-plan expenditures are
estimated first and composed of expenditure components, namely; interest debt payments,
subsidies (food, fertilizers & petroleum), Defense, Pensions and other non-plan
heads, while Plan expenditures are estimated after discussions with concerned ministries
(Government of India).
Analysis of Annexure 3, “Expenditure Budget Vol. 1, 2014-15”, reveals percentage
composition of top 5 non-plan expenditure heads, below;
- Interest Debt Payments – 36.03 %
- Subsidies – 24.23 %
- Defense – 19.31 %
- Other Non-plan – 7.57 %
- Pensions – 7.02 %
- Grants to States & Union Territories – 5.84 % (Ministry of Finance, GoI, 2014)
A break-up of the Subsidies in Annexure 3.1, details percentage composition of major
subsidies, mentioned below;
- Food – 45.74 %
- Fertilizer - 29.03 %
- Petroleum – 25.23 % (Ministry of Finance, GoI, 2014)
India’s subsidy driven approach towards food security and Farm sector is defined.