Ten Countries with Cheapest Petrol Prices


With the advent of technology, life has become so much easier for all of us. Not long ago people used to wait for days to receive message from near and dear ones. But now, the time taken to travel from one place to another is less than time required to send a letter via post. However, with the ease of transport came the blow of rising fuel cost. The cost of fuel is the most unstable thing across the world and it depends on crude oil price, oil company cost, taxes and, exchange rate, reports Rediff.com.

Because of the presence of considerable oil reserves in home-grounds, few countries are fortunate enough to get this motor spirit at affordable prices. Read on to know the countries where petrol is cheapest in the world.

1. Venezuela

ve

Price per litre: 6.49 ($0.12)

It is a place where the price of most of the objects goes up other than petrol. The price of petrol has always been cheap and now it has become almost free. In Venezuela, following the official exchange rate, the premium gasoline comes at around 5.8 U.S. cents. The price of petrol has been kept constant for almost 14 years under the rule of late President, Hugo Chavez, even though the tropical capital has hit big time inflation.
Monthly income expenditure on petrol:  2.73 percent.

2. Egypt

eg

Price per litre: 7.30 ($0.14)

The Egyptian government is planning to cut down the fuel subsidies as a measure to control its budget deficit. The size of fuel subsidies is expected to reach 120 billion Egyptian dollars in the current fiscal. The subsidies have hit the economy hard and lead to blackouts and fuel shortages in Cairo. The next few months are expected to witness reforms like fuel-rationing card in an attempt to curb smuggling of fuel.

Monthly income expenditure on petrol: 4.39 percent

3. Saudi Arabia

ksa
Price per litre: 8.12 ($0.15)

Saudi Arabia holds one-fifth of world’s total oil reserves and the crude from this country still influences fuel prices across the global. It is the second home to cheapest petrol in the Middle East after Egypt. The country, however, is working on methods to use wind, solar and nuclear power to produce energy and bring down the use of crude and natural gas to generate electricity.

Monthly income expenditure on petrol: 0.98 percent.

4. Qatar

qa
Price per litre: 9.74 ($0.18)

Prior to discovery of oil, the economy of Qatar ran on fishing and pearl hunting. In 1940, after the discovery of oil reserves, the economy of the country improved significantly. Because of the absence of income tax, Qatar is rated as one of the countries with lowest tax rates in the world. The economy is highly dependent on petroleum and natural gas and as of 2012, it has the highest GDP per capita in the world.

Monthly income expenditure on petrol: 0.40 percent

5. Bahrain

bh
Price per litre: 12.50 ($0.23)

Bahrain is situated near the western shores of the Persian Gulf. The country has been recognized as the fastest growing economy in the Arab world and is highly dependent on demand for oil. 60 percent of the country’s export, comes from petroleum production and processing. It also accounts for 70 percent of government revenues and 11 percent of its GDP.

Monthly income expenditure on petrol: 1.81 percent.

6. Libya

li
Price per litre: 12.50 ($0.23)

Libya has the largest oil reserves in entire Africa and its economy primarily benefits from oil sector which accounts for 97 percent of export and 80 percent of GDP. It is also a major contributor of light to the global supply. Because of its small population and handsome revenues from energy sector, Libya is one of the countries with highest per capita GDPs in Africa.

Monthly income expenditure on petrol: 3.32 percent.

7. Turkmenistan

tu
Price per litre: Rs 14.31 ($0.26)

Turkmenistan has the fourth largest oil reserves in the world. It has an oil reserve of about 700 million tons. The extraction of oil started in 1909 in Cheleken and it took a leap with the discovery of oil fields in Kumdag and Koturdepe. Most of its oil is refined in Turkmenbashy and Seidi refinaries. It exports oil to Europe through Caspian Sea via canals.

Monthly income expenditure on petrol: 17.79 percent.

8. Kuwait

ku

Price per litre: 14.31 ($0.26)

With a GDP of $167.9 billion and per capita income of $81,800, Kuwait stands as the 5th richest country in the world. The major export products are petroleum and petrochemical products and the country earns about $94.47 billion on exports. The government of Kuwait is trying to make the country a regional trading and tourism hub and less dependent on oil for its growing economy.

Monthly income expenditure on petrol:1.2 percent.

9. Algeria

al
Price per litre: 14.31 ($0.26)

Algeria is the 10th country in the world with the largest natural gas reserve of 160 trillion cubic feet of natural gas resources. It ranks 14th in petroleum reserves and about 60 percent of its budget revenues comes from petroleum. The hydrocarbon is also responsible for about 30 percent of its GDP and 95 percent of export earnings.

Monthly income expenditure on petrol: 11.85 percent

10. Iran

ir
Price per litre: 17.93 ($0.33)

The economy of the country is dependent on state ownership of oil, village agriculture, small scale private trading and, service venture. The GDP was about $482.4 billion in 2011, while in 2006 about 45 percent of the government’s budget came from oil and natural gas reserves. The European Union restriction on Iranian crude has led to a steep fall in the value of rial.

Monthly income expenditure on petrol: 6.53 percent.

Two-day strike wll cost the nation Rs15,000-20,000 crore: Assocham


Industry body Assocham on Tuesday urged central trade unions to withdraw the February 20-21 two-day-strike as the economy would lose Rs15,000-20,000 crore due to the disruption.

The Associated Chambers of Commerce and Industry of India (Assocham) said it estimated the national loss figures based on the daily erosion of about 30-40% to the country’s gross domestic production (GDP) for two days.

“The strike would take its toll on at least 30-40%, or Rs15,000 crore to Rs.20,000 crore,” Assocham said in a statement here.

“The national economy, battling a slowdown, can ill-afford this situation” Assocham president Rajkumar Dhoot said. “In fact, the strike would aggravate the price situation because of disruption in the supply of essential commodities.”

“Given the nature of the strike and involvement of the all five major central trade unions, it is going to affect the services sector, including banking, financial services, tourism, transportation, etc, which are the major contributors to the country’s GDP,” Dhoot added.

The central trade unions have given a two-day nationwide shutdown call February 20-21 against price rise, inflation and poor employment.

“The government has adopted an economic policy which creates inflation and recession. This is frustrating,” Ramakrushna Panda, national Secretary of All India Trade Union Congress, told IANS.

Slowdown Over, Growth Recovery in 6 Months: Montek


The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

“It is our hope that in the second half of the year, which has begun just now, many of the measures taken by the government in the recent past to revive investor confidence will lead to a turnaround setting in in the second half,” Ahluwalia said while addressing a banking summit organised here by Yes Bank and Financial Times.

Confident of better GDP numbers in the second half, Montek said, “In the first six months of the current year, GDP growth is around 5.5percent… And I think the second half will be better. Somewhere around 65 is a reasonable basis to start working from. It could be a little better, it could be a little worse.”

Basing his optimism to the pick up in the August IIP numbers as also in the recent PMI surveys, Ahluwalia said there are signals of an up-tick.

“We have two signals already, the industrial production index appears to have gone up a little in August and PMI is doing a little bit better.

“I am using that as a touchstone… The government is back in action. Therefore I am willing to interpret the slight up-tick in the industrial production index as an example of deceleration having been arrested. I am not actually saying that resurgence has begun, but what we have done [policy actions] the impact will be delayed,” Ahluwalia said.

After languishing for many months, the factory output numbers for August showed growth at 2.7 percent, but the April-August IIP remains almost flat at 0.4 percent against 5.6 percent in the year ago period.

The IIP readings were low due to the poor show by the manufacturing sector and contraction in capital goods output.

Partly blaming the coalition pressures on the policy delays, Ahluwalia said, “We took time taking the reform measures because of the pressures of coalition, there was a consultative process to be carried.”

He also said the slowdown is not primarily due to global slowdown. “Our analysis is that the slowdown is not because of international factors, our perception is that there are many domestic concerns such as procedural and implementation issues, especially in case of large infra projects.”

Stating that the growth deceleration being witnessed for the past several quarters has certainly ended, he said, however, that it is still too early to say whether it’s actually a turn-around, although the government has taken a number of steps to boost investor confidence.

“It is reasonable to say that the slowdown has certainly ended but we are yet to see how strong this recovery is going to be,” Ahluwalia told the summit.

On the latest inflation numbers, which inched up to 7.81% in September, up from 7.55 percent in the previous month on higher diesel prices, he said it’s better than last year but still not at our comfort level of 5-6 percent.

“You can’t say that the economy is overheated. Inflation is above the comfort level. There is no question about it… but it is a lot better than last year. I think the government has taken a number of steps which give us more fiscal room than we had before… We have seen a lot of positive action. We will be able to take inflation to more moderate levels,” Ahluwalia said.

Source: PTI

Woman Slammed With $15 Quadrillion Phone Bill


If there was ever an incentive to double-check your phone bills, this would be it: A woman in France was just slammed with a quadrillion dollar phone bill. Yes, really.

A woman named Solenne San Jose — who cancelled her account with French phone company Bouygues Telecom — has reportedly received a bill in the mail for $15 quadrillion or €11,721,000,000,000,000.

Although she knew there would be a cancellation fee for terminating the account ahead of the contract agreement, it was hardly the fine she was expecting.

“There were so many zeros I couldn’t even work out how much it was,” San Jose told French news site Sud Ouest.

The real kicker is that San Jose said she had difficult time convincing the company that it was actually an error. After identifying the issue as a printing problem, she was billed for only €117.21, or $151.

Do you always check your phone bills or trust the company is billing you correctly? Let us know in the comments.

India Will be World’s Third Largest Economy by 2030


India will world’s third largest economy by 2030 but its energy demand will slow down to 4.5 per cent, global energy giant BP plc said.

“By 2030 China and India will be the world’s largest and third largest economies and energy consumers, jointly accounting for about 35 per cent of global population, GDP and energy demand,” BP’s chief economist Christof Ruhl said releasing BP’s Energy Outlook 2030.

There would be “no surge in energy demand as India industrialises. Demand growth slows to 4.5 per cent per annum (vs. 5.5 per cent p.a. in 1999-2010) as improvements in energy efficiency partly offset the energy needs of industrialisation and infrastructure expansion.”

India’s dependence on imports to meet its gas needs will jump to 47 per cent by 2030 while the same for oil will grow to 91 per cent. The nation will be 40 per cent dependent on imports to meet its coal needs.

He said India remains on a lower path of energy intensity; by 2030 it consumes only about half the energy that China consumes today, at a similar income per capita level as in China today.

Over the next 20 years China and India combined account for all the net increase in global coal demand, 94 per cent of net oil demand growth, 30 per cent of gas, and 48 per cent of the net growth in non-fossil fuels.

Coal remains the main commercial fuel, but its share falls from 70 per cent to 55 per cent in China as a result of maturing industrial structure, and from 53 per cent to 50 per cent in India due to domestic resource constraints.

Oil’s share is flat at 18 per cent in China and falls to 26 per cent in India, constrained by prices and growing import dependency. Gas gains market share along with nuclear and renewables in both countries, BP said.

In India, the share of industry continues to grow, as infrastructure development catches up and manufacturing expands to absorb a growing labour force, but it never reaches the Chinese level. “India therefore remains significantly less energy intensive, with a relatively high share of the service sector in GDP.”
Source: PTI

Richest Countries in the World in 2012


If wealth describes power, then the United Sates leads the pack and India is not far behind either.

The 10 richest countries in the world based on their GDP are:

1. United States of America:

The United States of America is the richest country in the world and ranks first on the list. The U.S. is a market-oriented economy where private individuals and business companies make most of the decisions. The U.S. economy is the world’s largest national economy, with an estimated GDP of $15.1 trillion in 2011.

2. China:

China is the second richest country in the world. China’s annual GDP growth is 2.26 percent earning $7,743.144 trillion. The country’s economy is the second largest in the world after that of the United States. During the past thirty years China’s economy has changed from a centrally planned system that was largely closed to international trade to a more market-oriented one that has a rapidly growing private sector.  A chief component supporting China’s rapid economic growth has been exports growth.

3. Japan:

Japan is the second Asian country which is on the list. It is the third wealthiest country in the world. Japan is renowned for its aggressiveness in the global economy market having an upper hand in multi-national operation. The country has a USD $6,124.899 trillion. The Japanese economy is the third largest in the world. Japan is the world’s second largest automobile manufacturing country and has the largest electronics goods industry. The country is the world’s largest creditor nation as well. Its economy is highly efficient and competitive in areas linked to international trade, though productivity is far lower in protected areas such as agriculture, distribution, and services.

4. Germany:

 Germany takes the fourth place on the list. It is also the richest country in Europe and has produced a sum of USD $3,706.970 trillion. Ever since the age of industrialization, the country has been a driver, innovator, and beneficiary of an ever more globalised economy. Germany is the largest national economy in Europe. The country is the world’s second largest exporter and its exports account for more than one-third of national output.

5. France:

France is the fifth richest country in the world. The country has long been part of the world’s wealthiest and most developed national economies. France is believed to be the second biggest economic strength in Europe due to France’s focus on various industrial support and new age industrialized nations. Achieving USD $2,889.708 trillion booked at the end of year 2011 and 2012 makes France feature on the top five richest nations.

6. Brazil:

Brazil ranks sixth on the list. It is the richest South American county. The country had a closed nominal GDP of 0.80 percent earning USD $2,617.987 trillion before the end of 2011. The Brazilian economy is the world’s sixth largest by nominal GDP and is expected to become fifth by the end of 2012. Brazil’s earning come directly from their service segment, mining, manufacturing products and farming harvest. The country has moderately free markets and an inward-oriented economy. It is also known to be the fastest-growing major economies in the world with an average annual GDP growth rate of over 5 percent.

7. United Kingdom:

United Kingdom takes the seventh place on the list. UK had an average nominal GDP escalation of 0.58 percent earning USD $2,603.880 trillion at the end of 2011. UK’s GDP per capita is the twenty second highest in the world in nominal terms and the twenty second highest measured by PPP. It is the world’s most globalised countries. Its aerospace industry is one of the largest national aerospace industries and the pharmaceutical industry of the country plays an important role in its economy as well. The British economy is boosted by North Sea oil and gas reserves which was valued at an estimated £250 billion in 2007.

8. Italy:

Italy takes the eighth spot on the top 10 list of richest countries in 2012. Italy is a member of the G8 group of leading industrialized countries. The country has broadened its horizons for its industrial and road and rail network developments. Due to this advancement, the country has a nominal GDP of USD $2,287.704 trillion. The country has a diversified industrial economy with high gross domestic product per capita and developed infrastructure. The Italian economy is driven in large part by the manufacture of high-quality consumer goods that are produced by small and medium-sized enterprises.

9. Russia:

Russia takes the ninth position on the list. In 2011 Russia’s GDP grew by 4.2 percent, which is the world’s third highest growth rate among leading economies. The country has the ninth largest economy in the world by nominal value and the sixth largest by purchasing power parity. Russia is also abundant in natural gas, coal, oil and precious metals. Russia’s capital, Moscow, is noted to have the highest billionaire population of any city in the world.

10. India:


Surprisingly India makes it to the top 10 list of richest countries in the world. India takes the tenth place. India has the eleventh largest Economy in the world by nominal GDP and the third largest by purchasing power parity. The country’s present up-to-date development according to GDP is USD $2.012.760.000 million and this was predicted by the economists in the beginning of 2011. As a matter of fact, by means of the assessment, there was an 8.2 percent progress before the year 2011 came to an end.

World’s Richest Countries


If wealth is the power then Qataris have the most as Qatar is the richest country in the world. Forbes ranked the world’s richest countries based on their gross domestic product (GDP) at purchasing power parity per capita, the value of all final goods and services produced within a country in a given year. Qatar was followed by Luxemburg and Singapore.

The list of the richest countries of the world includes:

1. Qatar:

The Persian Gulf emirate with a population of 1.7 million people ranks as the world’s richest country per capita. Thanks to a rebound in oil prices and its gigantic natural gas reserves. Adjusted for purchasing power, Qatar booked a probable gross domestic product per capita of more than $88,000 for 2010.

Qatar has the third-largest reserves of natural gas in the world, and the country has invested heavily in infrastructure to liquefy and export it and to diversify its economy. Qatar has attracted multinational financial firms to the country, as well as satellite campuses of U.S. universities. The government is pouring money into infrastructure, including a deepwater seaport, an airport and a railway network, all with an effort to make the country a better host for businesses and the 2022 World Cup.

2. Luxembourg:

The second place is taken by Luxembourg. The country has a per capita GDP on a purchasing-power parity basis of just over $81,000. Luxembourg with half a million people became a financial hub in the latter half of the 20th century, partly due to strict banking secrecy laws that earned it the reputation of a tax haven.

3. Singapore:

Singapore is the third richest country in the world. The city-state thrives as a technology, manufacturing and finance hub with a GDP (PPP) per capita of nearly $56,700.

The country has one of the highest per-capita GDP in the world. In addition, its port infrastructure and skilled workforce, which is due to the success of the country’s education policy in producing skilled workers, is also essential in this aspect as they provide easier access to markets for both importing and exporting, and also provide the skills needed to refine imports into exports.

4. Norway:

Norway ranks fourth on the list. Norway’s petroleum accounts for nearly half of exports and over 30 percent of state revenue. It is the main contributor to its PPP-adjusted GDP per capita of nearly $52,000.

The country is also one of the largest gas exporters of the world. Shipping has also long been a support of Norway’s export sector, but much of the country’s economic growth has been fueled by an abundance of natural resources, including petroleum exploration and production, hydroelectric power, and fisheries. Norway has a very high standard of living compared to other European countries and has a strongly integrated welfare system. Norway is the world’s second-largest gas exporter and its position as an oil exporter has slipped to ninth-largest.

5. Brunei:

Brunei is the fifth wealthiest country in the world. It has a GDP (PPP) per capita of about $48,300. The country is rich due to its extensive petroleum and natural gas fields.

Brunei Darussalam‘s economy has been dominated by the oil and gas industry for the past 80 years, and the hydrocarbon resources account for over 90 percent of its exports and more than half it’s GDP. The country currently has the second highest GDP per capita in the Southeast Asian region and is the fourth largest oil producer in the region and ninth largest exporter of liquefied natural gas in the world.

6. United Arab Emirates:

The United Arab Emirates took the sixth position on the list. UAE looks to its oil and gas for about 25 percent of its GDP, which is nearly $47,500 per capita (PPP).

Though the UAE is becoming less dependent on natural resources as a source of revenue, petroleum and natural gas exports still play an important role in the economy, especially in Abu Dhabi. A gigantic construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy.

7. United States of America:

United States is the seventh wealthiest country in the world. The country has a per capita GDP on a purchasing-power parity basis of just over $46,000. The U.S. is the largest trading nation in the world and its three largest trading partners as of 2010 are Canada, China and Mexico. The country has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment.

The U.S.A remains the world’s largest manufacturer, representing a fifth of the worldwide manufacturing output. Of the world’s 500 largest companies, 133 are headquartered in the United States. It is also one of the world’s largest and most influential financial markets.

8. Hong Kong:

Hong Kong is the eighth richest country in the world.  The country is dependent on international trade and finance. The GDP (PPP) per capita of Hong Kong is estimated to be $45,944.

As one of the world’s leading international financial centers, the country has a major capitalist service economy characterized by low taxation and free trade. Hong Kong’s economic strengths include a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves and rigorous anti-corruption measures.

9. Switzerland:

Switzerland ranks ninth on the list. The GDP (PPP) per capita of the country is $41,950. The country has one of the world’s most stable economies.

The country’s policy of long-term monetary security and political stability has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment. Due to the country’s small size and high labor specialization, industry and trade are the keys to Switzerland’s economic livelihood. The country has achieved one of the highest per capita incomes in the world with low unemployment rates and a balanced budget.

10. Netherlands:

Netherlands is the tenth wealthiest country in the world. The GDP (PPP) per capita of the country is over $40,900. The country’s main industries include agriculture, metal, and engineering products.

The country’s government plays a very active role in maintaining a high standard of living for its citizens. Unemployment is also low because thousands of people have simply dropped out of the labor force and are living on government benefits. The country is a model of liberal social policy and lenient economics.

Australia ranked eleventh on the list of the world’s richest countries while Austria ranked twelfth. Ireland, Canada and Kuwait took the thirteenth, fourteenth and fifteenth position respectively.

Google Is Richer Than 28 Poorest Countries Combined GDP


How much revenue does Google earn? What are its major sources of revenue? How profitable are its products and services? BusinessMBA.org has come up with an infographic that gives you insight into the numbers behind Google. According to the infographic, Google had $29.3 billion in revenue in 2010. The amount is more than the combined GDP of the 28 poorest countries in the world.

Here are some of the other key highlights:

  • The bulk of Google’s revenue comes from selling ads through AdWords. Over 97% of Google’s revenue comes from advertising and only 3% from other sources, including its products and services.
  • $2,500,000,000 of Google’s revenue comes from mobile ads. This figure is expected to grow further in 2011.
  • What makes Google’s massive revenue possible is the fact that the search giant receives over 1 Billion unique visitors per month.
  • People spend a total of 200 billion minutes per month on its sites.
Click on Image to Enlarge.


The Best Performing States Of 2011


India is a vast nation with a growing population base supported by thriving economic growth which has transformed the nation into a preferred business hub for the world’s most developed countries. No longer is India tagged as a developing nation, rather it has become an ‘emerging economy’in the terminology used by the multilaterals of the world. Despite these encouraging facts, the country today faces challenges of equitable and sustainable development coupled with our collective social responsibility towards environment preservation and climate change.

India is made of 28 states and each state is unique in its own competitiveness. If Karnataka stands for its IT valley, Delhi is known for its high population density and economic development. The competitiveness between states helps you evaluate the growth of a state and helps you understand how Indian states are leveraging their human, physical, economic and natural resources to align with the broader goal of sustainable development.

To propel the overall growth of a country, each individual state has to be competitive so that they can build innovative ways that will help the growth of the state. The sustainable competitiveness is very important for the weaker states so that they can they can emulate their stronger counterparts.
RICS India and Institute for Competitiveness in their ‘Sustainable Competitiveness Report 2011? ranked the states in India on Social Inclusion , Environment and Climate Change, Economic Development , Resource Availability and Utilization.

So do you want to know how competitive is your state is? Who are the leaders and laggard in India’s successful growth story? Check out the list. But surprisingly some of the biggest states or the heavy weights like Tamil Naidu, Karnataka, Andhra Pradesh have scored low on the four parameters and have not made into the list.

1. Delhi:

Delhi, the largest metropolis by area

Delhi, the largest metropolis by area was ranked number one for its huge population and is known for driving the economic development in the country. Welcoming the report, Sheila Dikshit, Chief Minister of Delhi commented “It is extremely gratifying to see Delhi once again top the sustainability competitiveness rankings. It has been our constant endeavour to enable sustainable development and it is heartening to see that these initiatives have borne fruit. Sustainable development leads to sustainable prosperity across the country and I believe that this is a strong message that reverberates through this timely report brought out by the Institute for Competitiveness and RICS India. We need to keep striving to make not just our respective states but the entire country more competitive, sustainable and a true success story.”

2. Goa:

Goa is India's richest state

Goa is India’s smallest state by area but ranked one for its medium population. The resource availability and utilization is what gets the score cards for Goa. It was ranked the best placed state by the Eleventh Finance Commission for its infrastructure and ranked on top for the best quality of life in India by the National Commission on Population based on the 12 Indicators. Goa is India’s richest state with a GDP per capita two and a half times that of the country as a whole.

 

3. Sikkim:

Sikkim is the least populous state in India

Sikkim is the least populous state in India and the second-smallest state after Goa in total area. Sikkim’s economy is largely agrarian. The state has a high growth rate of 8.3%, which is the second highest in the country after Delhi. In recent years, the government of Sikkim has extensively promoted tourism. As a result, the state revenue has increased 14 times since the mid-1990s.

 

4. Punjab:

Punjab is ranked fourth among the states

Punjab is ranked fourth among the states on competitiveness and growth. Punjab is said to have the best infrastructure this includes road, rail, air and river transport links that are extensive throughout the region. Punjab also has the lowest poverty rate in India at 6.16 percent, and has won the best state performance award, based on statistical data compiled by the Indian Government. It also affords best quality of life to its residents. Punjab has the lowest level of hunger in India.

 

5. Himachal Pradesh:

Himachal depends directly upon agriculture

Himachal Pradesh has one of the highest per capita incomes of any state in India. The economy of the state is highly dependent on three sources: hydroelectric power, tourism and agriculture. Over 93 percent of the population in Himachal depends directly upon agriculture which provides direct employment to 71 percent of its people. Himachal is extremely rich in hydro electric resources. The state has about 25 percent of the national potential in this respect.

 

6. Haryana:

Haryana is one of the wealthiest states

Haryana is one of the wealthiest states of India and has the third highest per capita income in the country. Haryana is also one of the most economically developed regions in South Asia. The economy of Haryana relies on manufacturing, business process outsourcing, agriculture and retail. The State Gross Domestic Product (GSDP) of Haryana is expected to grow at 9 per cent during 2010-11 and per capita income at 7.2 percent.

 

7. Mizoram:

Mizoram is number one in social inclusion

Mizoram is number one in ‘social inclusion’. However, Mizoram lags behind economically with little development due to the geographical lack of markets and raw materials.

 

8. Kerala:

Kerala has the highest Human Development Index in India

Kerala has the highest Human Development Index in India, comparable with that of first world nations but with a much lower per capita income. The state has a literacy rate of 94.59 percent, also the highest in India.

 

9. Gujarat:

India's fastest growing states

Gujarat, considered the growth engine of India is one of India’s fastest growing states. One of the most industrialised states of India, and has a per capita GDP almost twice that of the national average.

 

10. Arunachal Pradesh:

clocked the highest economic growth rate of 22.43 percent

Arunchal Pradesh clocked the highest economic growth rate of 22.43 percent in 2009-10. Arunachal Pradesh accounts for a large percentage of India’s untapped hydroelectric power production potential. Corruption in Arunachal Pradesh is endemic, and reputed to be among the worst in India.