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Officially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.
The sector is predicted to grow at an average annual rate of 8.8% to US$9 billion by 2026 (3.1% of GDP). Mumbai's tourism industry accounted for 5.4% of India's total travel and tourism-related GDP in 2016, and employed 2.4% of the country's total workforce. [102] Foreign tourists accounted for 35.7% of all tourism-related spending in Mumbai in ...
The economy of Delhi is the 12th largest among states and union territories of India. The Nominal GSDP of the NCR was estimated at 272.603 Billion [1] and the Nominal GSDP of the NCT of Delhi for 2023-24 was estimated at ₹ 11.07 lakh crore (US$130 billion) [10] [11] recording an annual growth of 9.2%. Growth rate in 2014-15 was 9.2%.
These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g., the U.S. dollar, the euro, the pound sterling, the Japanese yen, the Swiss franc, the Indian rupees and the Chinese renminbi) and which are used to back its liabilities (e.g., the local ...
As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4] The first Union Budget of Independent India was presented by R. K. Shanmukham Chetty on 26 November 1947. [5]
India's foreign exchange reserves have steadily risen from $5.8 billion in March 1991 to ₹38,832.21 billion (US$540 billion) in July 2020. [ 359 ] [ 360 ] In 2012, United Kingdom announced an end to all financial aid to India, citing the growth and robustness of Indian economy.
Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10.. Most countries have decimalised their currencies, converting them from non-decimal sub-units to a decimal system, with one basic currency unit and sub-units that are valued relative to the basic unit by a power of 10, most commonly ...
Gujarat is the sixth largest state in India, located in the western part of India, with a coastline of 1,600 km (990 mi), which is the largest in India. It is one of the most popular states in the country, with an annual footfall of 19.81 million tourists in the fiscal years 2010–11. [ 134 ]