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Tourism in India is 4.6% of the country's gross domestic product (GDP). Unlike other sectors, tourism is not a priority sector for the Government of India. Forbes magazine ranked India as the 7th most beautiful country in 'The 50 Most Beautiful Countries In The World' rankings. The World Travel and Tourism Council calculated that tourism generated ₹13.2 lakh crore (US$160 billion) or 5.8% of India's GDP and supported 32.1 million jobs in 2021. Even though, these numbers were lower than the pre-pandemic figures; the country's economy witnessed a significant growth in 2021 after the massive downturn during 2020. The sector is predicted to grow at an annual rate of 7.8% to ₹33.8 lakh crore (US$400 billion) by 2031. India has established itself as the 5th largest global travel healthcare destination with an estimated market size of around $9 billion in 2019, out of the total global travel healthcare industry of $44.8 billion(2019). In 2014, 184,298 foreign patients travelled to India to seek medical treatment.
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In international relations, aid is – from the perspective of governments – a voluntary transfer of resources from one country to another. The type of aid given may be classified according to various factors, including its intended purpose, the terms or conditions under which it is given, its source, and its level of urgency. For example, aid may be classified based on urgency into emergency aid and development aid.
From 1947 to 2017, the Indian economy was premised on the concept of planning. This was carried through the Five-Year Plans, developed, executed, and monitored by the Planning Commission (1951–2014) and the NITI Aayog (2015–2017).
Australian Aid is the brand name used to identify projects in developing countries supported by the Australian Government. As of 2014 the Department of Foreign Affairs and Trade (DFAT) has been responsible for Australia's official development assistance to developing countries.
The economy of Kerala is the 9th largest in India, with an annual gross state product (GSP) of ₹9.78 lakh crore in 2020–2021. Per-capita GSP of Kerala during the same period is ₹257,711 (US$3,100), the sixth largest in India. In 2019–20, the tertiary sector contributed around 63% of the state's GSVA, compared to 28% by secondary sector, and 8% by primary sector.
Vibrant Gujarat, also referred to as Vibrant Gujarat Global Summit, is a biennial investors' global business event that is held in the state of Gujarat, India. The event is aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit is advertised as a platform to understand and explore business opportunities in Gujarat. The summit's primary objective is to promote Gujarat as an attractive investment destination and to facilitate partnerships and collaborations across different sectors. Summit began in 2003 and is now held every two years.
Social security in India includes a variety of statutory insurances and social grant schemes bundled into a formerly complex and fragmented system run by the Indian government at the federal and the state level. The Directive Principles of State Policy, enshrined in Part IV of the Indian Constitution reflects that India is a welfare state. Food security to all Indians are guaranteed under the National Food Security Act, 2013 where the government provides highly subsidised food grains or a food security allowance to economically vulnerable people. The system has since been universalised with the passing of The Code on Social Security, 2020. These cover most of the Indian population with social protection in various situations in their lives.
India and Maldives are neighbours sharing a maritime border. India continues to contribute to maintaining security as well as providing financial aid on the island nation.
United States foreign aid, also known as US foreign assistance consists of a variety of tangible and intangible forms of assistance the United States gives to other countries. Foreign aid is used to support American national security and commercial interests and can also be distributed for humanitarian reasons. Aid is financed from US taxpayers and other revenue sources that Congress appropriates annually through the United States budget process. It is dispersed through "over 20 U.S. government agencies that manage foreign assistance programs," although about half of all economic assistance is channeled through the United States Agency for International Development (USAID).
Indian Technical and Economic Cooperation Programme (ITEC) is a bilateral assistance programme run by the Government of India. It is a demand-driven, response-oriented programme that focuses on addressing the needs of developing countries through innovative technological cooperation between India and the partnering nation. Along with its corollary the Special Commonwealth Assistance for Africa Programme, ITEC covers 158 countries across Asia, Africa, Latin America, Central and Eastern Europe, and several Pacific and Caribbean nations. Since its inception, the programme has spent over US$ 2 billion and benefited thousands of students and professionals from around the globe and annual expenditure on the programme has averaged US$ 100 million per annum in recent years.
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The defence industry sector of India is a strategically important sector in India. India has one of the world's largest military forces with a strength of over 1.44 million active personnel. The country has the world's largest volunteer military of over 5.1 million personnel. The total budget sanctioned for the Indian military for the financial year 2021 is ₹4.78 lakh crore. It has the third largest annual defence budget behind USA and China. It is the second largest defence importer behind Saudi Arabia making up 9.2% of global arms import. India has a domestic defence industry of which 60% is government owned. The public sector includes NTRO, CSIR, PRL, DRDO and its 50 labs, 4 defence shipyards, 12 defence public sector undertakings (PSUs). India has a new defence procurement, acquisition and manufacturing policy to reduce imports and enhance domestic manufacturing.
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On 16 August 2018, severe floods affected the south Indian state Kerala, due to unusually heavy rainfall during the monsoon season. It was the worst flood in Kerala in nearly a century. Over 483 people died, and 15 went missing. About ten lakh people were evacuated, mainly from Chengannur, Pandanad, Edanad, Aranmula, Kozhencherry, Ayiroor, Ranni, Pandalam, Kuttanad, Malappuram, Aluva, Chalakudy, Thrissur, Thiruvalla, Eraviperoor, Vallamkulam, North Paravur, Chendamangalam, Chellanam, Vypin Island, and Palakkad. All 14 districts of the state were placed on red alert. According to the Kerala government, one-sixth of the total population of Kerala had been directly affected by the floods and related incidents. The Indian government had declared it a Level 3 Calamity, or "calamity of a severe nature". It is the worst flood in Kerala after the great flood of 99 that took place in 1924.
Indian foreign aid is the aid given by the Indian government to other governments. India's major quantum of foreign aid is given to neighbouring countries. According to India's budget in 2021–22, its direct overseas aid stood at ₹18,154 crore (US$2.2 billion). That apart, India also extended a direct line of credit worth $30.66 billion to several foreign countries for developmental projects. The way of providing a much larger share of aid in the form of concessional loans is quite similar to that of China. India has set up 'Indian Agency for Partnership in Development' as a part of Ministry of External Affairs (India) to channelize aid to recipient nations.
The 2020 Union Budget of India 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. The Economic Survey for 2019–2020 was released on 31 January 2020, a day before the budget. Before the budget speech the report of the 15th Finance Commission was tabled by the Finance Minister.
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund was created on 27 March 2020, following the COVID-19 pandemic in India. Although it is named for the Prime Minister of India, and uses the State Emblem of India, it is a private fund, used at the discretion of the Prime Minister and the Fund's trustees, and does not form a part of the Government of India's accounts. The Fund was established for the purpose of redressing the COVID-19 pandemic in India, in 2020. While complete documentation for the Fund's establishment has not been made public, the Government of India has stated that the Prime Minister of India, Narendra Modi, is the chairman of the fund, and that trustees include the Minister of Defence, Rajnath Singh; the Minister of Home Affairs, Amit Shah, the Minister of Finance, Nirmala Sitharaman, and several corporate leaders and industrialists, including Ratan Tata, and Sudha Murty.
From 15 June to October 2022, floods in Pakistan killed 1,739 people, and caused ₨ 3.2 trillion of damage and ₨ 3.3 trillion of economic losses. The immediate causes of the floods were heavier than usual monsoon rains and melting glaciers that followed a severe heat wave, both of which are linked to climate change.
References
- ↑ Glennie, Jonathan (8 November 2010). "If India doesn't 'need' aid, why do foreign governments still give it?". The Guardian. Retrieved 14 May 2019.
- ↑ Rajghatta, Chidanand (16 July 2015). "India top recipient of US economic aid". Times of India. Retrieved 15 May 2019.
- 1 2 Bagchi, Indrani (23 August 2018). "Why it's perfectly justified for India to refuse foreign aid for Kerala". Economic Times. Retrieved 14 May 2019.
- ↑ Sharma, Ritu (22 March 2017). "Emerging power India gives more aid than it receives". Indian Express. Retrieved 14 May 2019.
- ↑ "Budget 2024: India cuts aid to Maldives, grants to other foreign nations see a drop too". India Today. Retrieved 2024-02-15.
