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Historically, from 1960 until 2023, the annual inflation rate in India averaged 7.37% reaching an all-time high of 28.60% in 1974 and a record low of -7.63% in 1976. The inflation rate for Primary Articles is currently at 9.8% (as of 2012). This breaks down into a rate 7.3% for Food, 9.6% for Non-Food Agriculturals, and 26.6% for Mining Products.
The 2023 Union Budget of India was presented by the Minister of Finance of India on February 1, 2023. This was the fourth budget of Narendra Modi-led NDA government's second term, starting from 2020. The Economic Survey for 2022–2023 was released on January 31, 2023 before the budget.
CMIE's focuses on the Indian economy, industries, states, agriculture, foreign exchange, and businesses, as well as global economies. National accounts figures, public finance statistics, money controls, and balance of payments statistics are all included in the firm's macroeconomic database.
An analysis conducted by Politico in May 2023 found that in the United States, wage growth for the bottom 10th percentile of the wage scale beat inflation by a strong 5.7% from 2020 through 2022. For the middle 50th percentile, real wages were down by 1%, while they were down 5% for the top 90th percentile.
World map by inflation rate (consumer prices), 2023, according to World Bank This is the list of countries by inflation rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. Inflation rate is defined as the annual percent change in consumer prices compared with the previous year's consumer prices. Inflation is a positive value ...
The 2020 Union Budget of India (ISO: 2020 Ke liye Bhārat Kā Saṅghīya Bajaṭ) was presented by the Finance Minister, Nirmala Sitharaman on 1 February 2020, as her second budget. This is the second budget of Narendra Modi -led NDA government 's second term.
Nashik division cities have been included in Smart city project by Central Government of India [205] [206] [207] as an important node in the US$90 billion Delhi Mumbai Industrial Corridor Project. [ 208 ] [ 209 ] Economy of Nashik district is mainly driven by manufacturing, pharmaceuticals, [ 210 ] [ 211 ] and engineering industry.
For a continuous duration of nearly 1700 years from the year 1 CE, India was the world's largest economy, constituting 35 to 40% of the world GDP. [107] The combination of protectionist, import-substitution, Fabian socialism, and social democratic-inspired policies governed India for sometime after the end of British rule.