A Fatal Social Security Mistake
When Benjmain Franklin wrote, “…in this world nothing can be said to be certain, except death...
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India Facts And Figures
Facts About India
| Information Type | India Data |
|---|---|
| Population | 1.387 billion (June 2020 est.) |
| Gross Domestic Product (GDP) | US$3.202 trillion (2020 est.) |
| GDP Per Capita | US$2,900 (2020 est.) |
| Inflation Rate | 5.84% (2020 est.) |
| Currency | Indian rupees (INR) |
| Exchange Rate | 75.58 Indian rupees (INR) per 1 US dollar (June 2020) |
| Language | Hindi 41%, Bengali 8.1%, Telugu 7.2%, Marathi 7%, Tamil 5.9%, Urdu 5%, Gujarati 4.5%, Kannada 3.7%, Malayalam 3.2%, Oriya 3.2%, Punjabi 2.8%, Assamese 1.3%, Maithili 1.2%, other 5.9% |
| Capital | New Delhi |
| Population of Capital City | 30,291,000 (2020) |
| Time Zone | UTC +5:30 |
| Seasons | varies from tropical monsoon in south to temperate in north |
| International Dialing Code | 91 |
| Electricity | 230V, 50 Hz |
| System of Government | federal parliamentary republic |
| Name and Party Affiliation of Current Leader | President Ram Nath Kovind (Since July 2017) |
| Income Tax Rate for Residents | Normally taxed on worldwide income, rates are progressive up to 30% plus the applicable cess. |
| Property Tax | No |
| Capital Gains Tax | 10%-20%; depends on wheter he gains are long term or short term. |
| Inheritance Tax | No |
| Rental Income Tax | 20% |
| Transfer Tax | Yes, to financial instruments and transactions with rates varying significantly by state |
| Sales Tax | 12.50% |
| Restrictions on Foreign Ownership of Property | Will be permitted by Reserve Bank, on application, to acquire immovable property in India if the property to be purchased is for residential use only. |
| Local Chamber of Commerce | Indian Chamber Of Commerce |
| American Chamber of Commerce | Amcham India |
| Primary Exports | petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel |
| Residency and Visa Requirements | All foreign nationals who wish to come to India must have their own country’s valid passport and an Indian visa. |
| Special Benefits for Foreign Residents or Retirees | No |
| National Airline | Air India |
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