Economic Times Story on 05.11.12: Services growth weakens to 6-month low in October: HSBC PMI
Comments of MILAN K SINHA (PATNA)
05 Nov, 2012 06:20 PM
The economic growth train has been pulled by the service sector during the last few years despite many ups & downs in global as well as domestic financial market. To say, it has been the major growth driver for Indian economy for the last so many years. Its contribution to GDP was only 15% in 1950 which grew to 44% in 1991 and now it is contributing about 60% to our GDP. Although majority of Indians are still engaged in Agriculture & allied activities and majority of our population live in rural areas, yet the contribution of Agriculture to GDP is still less than 20% and is showing a decelerating trend. More or less, same is the story of industrial production in the country. Notwithstanding, the services sector would continue to hold its predominant position and certainly try to improve its share due to its inherent strengths. But, all said and done, its time to work out action plan to increase the contribution of Agriculture & Industry to GDP hereafter for sustaining better economic growth year after year despite slow down in one particular sector.
===================================================================
Economic Times Story on 05.11.12: India tops global life insurance density rankings: WEF
Comments of MILAN K SINHA (PATNA)
05 Nov, 2012 08:26 PM
It is good to know our better position on LID (Life Insurance Density) Ranking, but we have miles to go in order to cover a vast population who are still uninsured. Data says only 20% of the total insurable population of the country is covered under various Life Insurance Schemes despite being a 65 year old independent democratic country and also claiming to be a welfare state. More over, the penetration level too is hovering around 4.5% of GDP, which Mr. Malay Ghosh has rightly termed as under-penetrated. Yes, India is the 5th largest life insurance market in the world and is also growing fast at whooping rate of more than 30% annually. In nutshell, life insurance is very much the need of our country to ensure real inclusive growth in days to come. Naturally, this is a big opportunity area for both national and international life insurance players.
Comments of MILAN K SINHA (PATNA)
05 Nov, 2012 06:20 PM
The economic growth train has been pulled by the service sector during the last few years despite many ups & downs in global as well as domestic financial market. To say, it has been the major growth driver for Indian economy for the last so many years. Its contribution to GDP was only 15% in 1950 which grew to 44% in 1991 and now it is contributing about 60% to our GDP. Although majority of Indians are still engaged in Agriculture & allied activities and majority of our population live in rural areas, yet the contribution of Agriculture to GDP is still less than 20% and is showing a decelerating trend. More or less, same is the story of industrial production in the country. Notwithstanding, the services sector would continue to hold its predominant position and certainly try to improve its share due to its inherent strengths. But, all said and done, its time to work out action plan to increase the contribution of Agriculture & Industry to GDP hereafter for sustaining better economic growth year after year despite slow down in one particular sector.
Economic Times Story on 05.11.12: India tops global life insurance density rankings: WEF
Comments of MILAN K SINHA (PATNA)
05 Nov, 2012 08:26 PM
It is good to know our better position on LID (Life Insurance Density) Ranking, but we have miles to go in order to cover a vast population who are still uninsured. Data says only 20% of the total insurable population of the country is covered under various Life Insurance Schemes despite being a 65 year old independent democratic country and also claiming to be a welfare state. More over, the penetration level too is hovering around 4.5% of GDP, which Mr. Malay Ghosh has rightly termed as under-penetrated. Yes, India is the 5th largest life insurance market in the world and is also growing fast at whooping rate of more than 30% annually. In nutshell, life insurance is very much the need of our country to ensure real inclusive growth in days to come. Naturally, this is a big opportunity area for both national and international life insurance players.
Will meet again with Open Mind. All the Best.
No comments:
Post a Comment