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The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. 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]
High income 27.96 2016 United Arab Emirates: Western Asia: High income 26.4 2018 25.97 2019 Argentina: South America: Upper middle income 40.7 2022 37.80 2022 Armenia: Western Asia: Upper middle income 27.9 2022 27.94 2021 Australia: Australia and New Zealand: High income 34.3 2018 34.33 2018 Austria: Western Europe: High income 30.7
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 119th by GDP (PPP). [58]
In the 12 months leading up to August 2024, India’s total goods trade was valued at $1.1 trillion – the same level as it was two years ago. ... income distribution in India was more equitable ...
The current total number of billionaires in India is peaking at 271, with 94 new billionaires added in 2023 alone, according to Hurun Research Institute’s 2024 global rich list published Tuesday ...
With rising economic growth India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around ₹1,69,496 in 2022-23. [1] The per-capita income is a crude indicator of the prosperity of a country. In contrast, the gross national income at constant prices stood at over 128 trillion rupees. [2]
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
These are lists of Indian states and union territories by their nominal gross state domestic product (GSDP). GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). [1]