CURRENCY:
India's monetary system is managed by the Governer of Reserve Bank of India (RBI), the country's central bank. Indian Currency rates today became higher and becoming more valuable. Established on 1 April 1935 and nationalised in 1949, the RBI serves as the nation's monetary authority,regulator and supervisor of the monetary system, banker to the Government, custodian of Foreign exchange reserves and as an issuer of currency.
The rupee was linked to the Great British pound from 1927–1946 and then the U.S.
dollar till 1975 through a fixed exchange rate. It was devalued in September
1975 and the system of fixed par rate was replaced with a basket of four major
international currencies – the British pound, the U.S. dollar, the Japanese yen
and the Deutsche mark. Since 2003, the rupee has been steadily appreciating
against the U.S. dollar. In 2009, a rising rupee prompted the Government of
India to purchase 200 tons of gold for $6.7 billion from the IMF.
India's gross national income per capita had
experienced astonishing growth rates since 2002.India's Per Capita Income has
tripled from $ 423 in 2002–03 to $ 1219 in 2010–11, averaging 14.4% growth over
these eight years. It will further go up to $ 1440 during 2011–12 fiscal.
Indian official estimates of the extent of poverty have been subject to debate,
with concerns being raised about the methodology for the determination of the
poverty line. As of 2005, according to World Bank statistics, 75.6% of the population
lived on less than $2 a day (PPP), while 41.6% of the population was living
below the new international causes of Poverty line of $1.25(ppp) per day. However, data released in 2009 by the Government of India estimated that 37% of the population lived below the poverty line.
Housing
is modest. US Dollar rate today is increasing higher based on the
market. According to The Times of India, a majority of Indians had a per
capita space equivalent to or less than a 100 square feet (9.3 m2)
room for their basic living needs, and one-third of urban Indians lived in
"homes too cramped to exceed even the minimum requirements of a prison
cell in the US." The average is 103 sq ft (9.6 m2)
per person in rural areas and 117 sq ft (10.9 m2) per
person in urban areas.
Around half of Indian children are malnourished. The proportion of
underweight children is nearly double that of Sub-Saharan Africa.However, India
has not had any major famines since Independence.
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ECONOMIC INCOME
