If you are preparing for an Indian competitive exam, you must understand India’s history, culture, economy and other facts. Knowing these facts will not only help you pass the test but also equip you with the knowledge to understand why India is one of the world’s most diverse and unique countries. This blog post will look at some of the top Indian facts that can help you pass Indian competitive exams. This comprehensive list covers all aspects of India, like its history, culture, economy, or list of Presidents of India, to make sure you have a well-rounded understanding of all things India.
The Economy of India
India has the seventh-largest nominal GDP and the third-largest PPP economy in the world (PPP). The country has recorded strong economic growth in recent years, with an annual growth rate of 7.5% in 2020. India’s per capita income (nominal) stood at US$1,980 in 2020, while its per capita GDP (PPP) was $7,170.
The Indian economy is quite diversified, with sectors such as agriculture, manufacturing, services, and tourism all contributing to GDP. Agriculture accounts for around 17% of GDP, while industry and services make up 27% and 56%, respectively. The service sector is the largest and fastest-growing sector of the economy, accounting for over half of the GDP.
The Indian government has taken several steps to liberalise the economy and encourage foreign investment. These include opening up several sectors to foreign investment, privatising some state-owned enterprises, and reducing tariffs and other trade barriers. As a result of these reforms, India has attracted significant foreign investment inflows in recent years.
The official currency of India is the rupee (INR). The Reserve Bank of India (RBI) oversees the nation’s monetary policy as its central bank. The RBI is also responsible for issuing currency notes and coins, maintaining reserve requirements, managing foreign exchange reserves, and overseeing the banking system.
India’s Presidents
If you observe the List of Presidents of India, he/she is the nation’s first citizen and its head of state. The Indian Armed Forces’ top commander is also the President. The President’s role is largely ceremonial, and he or she is elected by an electoral college consisting of the Parliament of India and the state legislatures.
The president of India is Draupadi Murmu, who was elected in 2022. She is the 15th person to hold this office, established in 1950 when India became a republic.
Indian Festivals
Indian Festivals are one of the most important aspects of Indian culture. They are a time when families and friends come together to celebrate, pray and feast. There are many different types of festivals celebrated in India, each with its own unique customs and traditions.
The most popular Indian festivals include Diwali, Holi, Dusshera and Navratri. Diwali, often known as the festival of lights, is observed by Hindus everywhere. It honours the triumph of right over wrong and light over darkness. Homes are decorated with lanterns and candles, and people exchange gifts and sweets.
India is a complex nation with a rich history and culture. This article gathered some of the most interesting facts about India to help you prepare for competitive exams covering Indian topics. From its ancient civilisations, religions, languages, politics and people, you should now be well-equipped with all the essential information necessary to ace your exam. Keep these top Indian facts in mind when preparing for your next test, and ensure that you are prepared for success!