document_title: History of the Hindu–Arabic numeral system

question_text: when did the indian numbering system reach europe

text: Decimal system[edit]

text: Historians trace modern numerals in most languages to the Brahmi numerals, which were in use around the middle of the 3rd century BC.[3] The place value system, however, developed later. The Brahmi numerals have been found in inscriptions in caves and on coins in regions near Pune[2], and Uttar Pradesh. These numerals (with slight variations) were in use over quite a long time span up to the 4th century.[3]

text: During the Gupta period (early 4th century to the late 6th century), the Gupta numerals developed from the Brahmi numerals and were spread over large areas by the Gupta empire as they conquered territory.[3] Beginning around 7th century, the Gupta numerals developed into the Nagari numerals.

text: Development in India[edit]

text: During the Vedic period (1500–500 BCE), motivated by geometric construction of the fire altars and astronomy, the use of a numerical system and of basic mathematical operations developed in northern India.[4][5] Hindu cosmology required the mastery of very large numbers such as the kalpa (the lifetime of the universe) said to be 4,320,000,000 years and the "orbit of the heaven" said to be 18,712,069,200,000,000 yojanas.[6] Numbers were expressed using a "named place-value notation", using names for the powers of 10, like dasa, shatha, sahasra, ayuta, niyuta, prayuta, arbuda, nyarbuda, samudra, madhya, anta, parardha etc., the last of these being the name for a trillion (1012).[7] For example, the number 26,432 was expressed as "2 ayuta, 6 sahasra, 4 shatha, 3 dasa, 2."[8] In the Buddhist text Lalitavistara, the Buddha is said to have narrated a scheme of numbers up to 1053.[9][10]

text: The form of numerals in Ashoka's inscriptions in the Brahmi script (middle of the third century BCE) involved separate signs for the numbers 1 to 9, 10 to 90, 100 and 1000. A multiple of 100 or 1000 was represented by a modification (or "enciphering"[11]) of the sign for the number using the sign for the multiplier number.[12] Such enciphered numerals directly represented the named place-value numerals used verbally. They continued to be used in inscriptions until the end of the 9th century.

text: In his seminal text of 499 CE, Aryabhata devised a novel positional number system, using Sanskrit consonants for small numbers and vowels for powers of 10. Using the system, numbers up to a billion could be expressed using short phrases, e. g., khyu-ghṛ representing the number 4,320,000. The system did not catch on because it produced quite unpronounceable phrases, but it might have driven home the principle of positional number system (called dasa-gunottara, exponents of 10) to later mathematicians.[13] A more elegant katapayadi scheme was devised in later centuries representing a place-value system including zero.[14]

text: Place-value numerals without zero[edit]

text: While the numerals in texts and inscriptions used a named place-value notation, a more efficient notation might have been employed in calculations, possibly from the 1st century CE. Computations were carried out on clay tablets covered with a thin layer of sand, giving rise to the term dhuli-karana ("sand-work") for higher computation. Karl Menninger believes that, in such computations, they must have dispensed with the enciphered numerals and written down just sequences of digits to represent the numbers. A zero would have been represented as a "missing place," such as a dot.[15] The single manuscript with worked examples available to us, the Bakhshali manuscript (thought to be a copy of an original written in 4th to 7th century CE), uses a place value system with a dot to denote the zero. The dot was called the shunya-sthāna, "empty-place." The same symbol was also used in algebraic expressions for the unknown (as in the canonical x in modern algebra).[16] However, the date of the Bakhshali manuscript is subject to considerable debate.

text: Textual references to a place-value system are seen from the 1st century CE onward. The Buddhist philosopher Vasubandhu in the 1st century says "when [the same] clay counting-piece is in the place of units, it is denoted as one, when in hundreds, one hundred." A commentary on Patanjali's Yoga Sutras from the 5th century reads, "Just as a line in the hundreds place [means] a hundred, in the tens place ten, and one in the ones place, so one and the same woman is called mother, daughter and sister."[17]

text: A system called bhūta-sankhya ("object numbers" or "concrete numbers") was employed for representing numerals in Sanskrit verses, by using a concept representing a digit to stand for the digit itself. The Jain text entitled the Lokavibhaga, dated 458 CE,[18] mentions the objectified numeral

text: "panchabhyah khalu shunyebhyah param dve sapta chambaram ekam trini cha rupam cha"

text: meaning, "five voids, then two and seven, the sky, one and three and the form", i.e., the number 13107200000.[19][20] Such objectified numbers were used extensively from the 6th century onward, especially after Varahamihira (c. 575 CE). Zero is explicitly represented in such numbers as "the void" (sunya) or the "heaven-space" (ambara akasha).[21] Correspondingly, the dot used in place of zero in written numerals was referred to as a sunya-bindu.[22]

text: Place-value numerals with zero[edit]

text: In 628 CE, astronomer-mathematician Brahmagupta wrote his seminal text Brahma Sphuta Siddhanta which contained the first mathematical treatment of zero. He defined zero as the result of subtracting a number from itself, postulated negative numbers and discussed their properties under arithmetical operations. His word for zero was shunya (void), the same term previously used for the empty spot in 9-digit place-value system.[23] This provided a new perspective on the shunya-bindu as a numeral and paved the way for the eventual evolution of a zero digit. The dot continued to be used for at least 100 years afterwards, and transmitted to Southeast Asia and Arabia. Kashmir's Sharada script has retained the dot for zero until this day.

text: By the end of the 7th century, decimal numbers begin to appear in inscriptions in Southeast Asia as well as in India.[22] Some scholars hold that they appeared even earlier. A 6th century copper-plate grant at Mankani bearing the numeral 346 (corresponding to 594 CE) is often cited.[24] But its reliability is subject to dispute.[22][25] The first indisputable occurrence of 0 in an inscription occurs at Gwalior in 876 CE, containing a numeral "270" in a notation surprisingly similar to ours.[26] Throughout the 8th and 9th centuries, both the old Brahmi numerals and the new decimal numerals were used, sometimes appearing in the same inscriptions. In some documents, a transition is seen to occur around 866 CE.[22]

text: Adoption by the Arabs[edit]

text: Before the rise of the Caliphate, the Hindu–Arabic numeral system was already moving West and was mentioned in Syria in 662 AD by the Nestorian scholar Severus Sebokht who wrote the following:

text: According to al-Qifti's chronology of the scholars [2]:

text: The work was most likely to have been Brahmagupta's Brahma Sphuta Siddhanta (Ifrah) [3] (The Opening of the Universe) which was written in 628 [4]. Irrespective of whether Ifrah is right, since all Indian texts after Aryabhata's Aryabhatiya used the Indian number system, certainly from this time the Arabs had a translation of a text written in the Indian number system. [5]

text: In his text The Arithmetic of Al-Uqlîdisî (Dordrecht: D. Reidel, 1978), A.S. Saidan's studies were unable to answer in full how the numerals reached the Arab world:

text: Al-Uqlidisi developed a notation to represent decimal fractions.[27][28] The numerals came to fame due to their use in the pivotal work of the Persian mathematician Al-Khwarizmi, whose book On the Calculation with Hindu Numerals was written about 825, and the Arab mathematician Al-Kindi, who wrote four volumes (see [2]) "On the Use of the Indian Numerals" (Ketab fi Isti'mal al-'Adad al-Hindi) about 830. They, amongst other works, contributed to the diffusion of the Indian system of numeration in the Middle-East and the West.

text: Development of symbols[edit]

text: The development of the numerals in early Europe is shown below:

text: The abacus versus the Hindu–Arabic numeral system in early modern pictures[edit]

text: Adoption in Europe[edit]

text:
976. The first Arabic numerals in Europe appeared in the Codex Vigilanus in the year 976.
1202. Fibonacci, an Italian mathematician who had studied in Béjaïa (Bougie), Algeria, promoted the Arabic numeral system in Europe with his book Liber Abaci, which was published in 1202.
1482. The system did not come into wide use in Europe, however, until the invention of printing. (See, for example, the 1482 Ptolemaeus map of the world printed by Lienhart Holle in Ulm, and other examples in the Gutenberg Museum in Mainz, Germany.)
1549. These are correct format and sequence of the "modern numbers" in titlepage of the Libro Intitulado Arithmetica Practica by Juan de Yciar, the Basque calligrapher and mathematician, Zaragoza 1549.

text: In the last few centuries, the European variety of Arabic numbers was spread around the world and gradually became the most commonly used numeral system in the world.

text: Even in many countries in languages which have their own numeral systems, the European Arabic numerals are widely used in commerce and mathematics.

text: Impact on arithmetic[edit]

text: The significance of the development of the positional number system is described by the French mathematician Pierre Simon Laplace (1749–1827) who wrote:


document_title: Five-Year Plans of India

question_text: when did the first five year plan begin in india

root

text: Five-Year Plans of India

text: History[edit]

text: Five-Year Plans (FYPs) are centralized and integrated national economic programs. Joseph Stalin implemented the first Five Year Plan in the Soviet Union in 1928. Most communist states and several capitalist countries subsequently have adopted them. China and India both continue to use FYPs, although China renamed its Eleventh FYP, from 2006 to 2010, a guideline (guihua), rather than a plan (jihua), to signify the central government’s more hands-off approach to development. India launched its First FYP in 1951, immediately after independence under socialist influence of first Prime Minister Jawaharlal Nehru.[3]

tag: p

text: The First Five-Year Plan was one of the most important because it had a great role in the launching of Indian development after Independence. Thus, it strongly supported agriculture production and it also launched the industrialization of the country (but less than the Second Plan, which focused on heavy industries). It built a particular system of mixed economy, with a great role for the public sector (with an emerging welfare state), as well as a growing private sector (represented by some personalities as those who published the Bombay Plan).

text: First Plan (1951–1956)[edit]

text: This article does not cite any sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2017) (Learn how and when to remove this template message)

tag: table

text: The first Indian Prime Minister, Jawaharlal Nehru presented the First Five-Year Plan to the Parliament of India and needed urgent attention. The First Five-year Plan was launched in 1951 which mainly focused in development of the primary sector. The First Five-Year Plan was based on the Harrod–Domar model with few modifications.

text: The total planned budget of Rs.2069 crore (2378 crore later) was allocated to seven broad areas: irrigation and energy (27.2%), agriculture and community development (17.4%), transport and communications (24%), industry (8.4%), social services (16.6%), rehabilitation of landless farmers (4.1%), and  for other sectors and services (2.5%). The most important feature of this phase was active role of state in all economic sectors. Such a role was justified at that time because immediately after independence, India was facing basic problems—deficiency of capital and low capacity to save.

text: The target growth rate was 2.1% annual gross domestic product (GDP) growth; the achieved growth rate was 3.6% the net domestic product went up by 15%. The monsoon was good and there were relatively high crop yields, boosting exchange reserves and the per capita income, which increased by 8%. National income increased more than the per capita income due to rapid population growth. Many irrigation projects were initiated during this period, including the Bhakra, Hirakud, Mettur Dam and Damodar Valley dams. The World Health Organization (WHO), with the Indian government, addressed children's health and reduced infant mortality, indirectly contributing to population growth.

text: At the end of the plan period in 1956, five Indian Institutes of Technology (IITs) were started as major technical institutions. The University Grants Commission (UGC) was set up to take care of funding and take measures to strengthen the higher education in the country. Contracts were signed to start five steel plants, which came into existence in the middle of the Second Five-Year Plan. The plan was quasi successful for the government.

text: Second Plan (1956–1961)[edit]

text: The Second Plan was particularly in the development of the public sector and "rapid Industrialisation". The plan followed the Mahalanobis model, an economic development model developed by the Indian statistician Prasanta Chandra Mahalanobis in 1953. The plan attempted to determine the optimal allocation of investment between productive sectors in order to maximise long-run economic growth. It used the prevalent state of art techniques of operations research and optimization as well as the novel applications of statistical models developed at the Indian Statistical Institute. The plan assumed a closed economy in which the main trading activity would be centred on importing capital goods.[4][5]

text: Hydroelectric power projects and five steel plants at Bhilai, Durgapur, and Rourkela were established with the help of Russia, Britain (the U.K) and West Germany respectively. Coal production was increased. More railway lines were added in the north east.

text: The Tata Institute of Fundamental Research and Atomic Energy Commission of India was established as  research institutes. In 1957 a talent search and scholarship program was begun to find talented young students to train for work in nuclear power.

text: The total amount allocated under the Second Five-Year Plan in India was Rs.48 billion. This amount was allocated among various sectors: power and irrigation, social services, communications and transport, and miscellaneous.

text: "The target growth rate was 4.5% and the actual growth rate was 4.27%.[6]"

text: Third Plan (1961–1966)[edit]

text: The Third Five-year Plan, stressed agriculture and improvement in the production of wheat, but the brief Sino-Indian War of 1962 exposed weaknesses in the economy and shifted the focus towards the defence industry and the Indian Army. In 1965–1966, India fought a War with Pakistan. There was also a severe drought in 1965. The war led to inflation and the priority was shifted to price stabilisation. The construction of dams continued. Many cement and fertilizer plants were also built. Punjab began producing an abundance of wheat.

text: Many primary schools were started in rural areas. In an effort to bring democracy to the grass-root level, Panchayat elections were started and the states were given more development responsibilities.

text: State electricity boards and state secondary education boards were formed. States were made responsible for secondary and higher education. State road transportation corporations were formed and local road building became a state responsibility.

text: The target growth rate was 5.6%, but the actual growth rate was 2.4%.[6]

text: Due to miserable failure of the Third Plan the government was forced to declare "plan holidays" (from 1966–67, 1967–68, and 1968–69). Three annual plans were drawn during this intervening period. During 1966–67 there was again the problem of drought. Equal priority was given to agriculture, its allied activities, and industrial sector. The government of India declared "Devaluation of Rupee" to increase the exports of the country. The main reasons for plan holidays were the war, lack of resources, and increase in inflation.

text: Fourth Plan (1969–1974)[edit]

text: At this time Indira Gandhi was the Prime Minister. The Indira Gandhi government nationalised 14 major Indian banks and the Green Revolution in India advanced agriculture. In addition, the situation in East Pakistan (now Bangladesh) was becoming dire as the Indo-Pakistan War of 1971 and Bangladesh Liberation War took funds earmarked for industrial development. India also performed the Smiling Buddha underground nuclear test (Pokhran-1) in Rajasthan on May 18, 1974, partially in response to the United States deployment of the Seventh Fleet in the Bay of Bengal. The fleet had been deployed to warn India against attacking West Pakistan and extending the war.

text: The target growth rate was 5.6%, but the actual growth rate was 3.3%.[6]

text: Fifth Plan (1974–1978)[edit]

text: The Fifth Five-Year Plan laid stress on employment, poverty alleviation (Garibi Hatao), and justice. The plan also focused on self-reliance in agricultural production and defence. In 1978 the newly elected Morarji Desai government rejected the plan. The Electricity Supply Act was amended in 1975, which enabled the central government to enter into power generation and transmission.[7][citation needed]

text: The Indian national highway system was introduced and many roads were widened to accommodate the increasing traffic. Tourism also expanded. The twenty-point programme was launched in 1975. It was followed from 1974 to 1979.

text: The Minimum Needs Programme (MNP) was introduced in the first year of the Fifth Five Year Plan (1974–78). The objective of the programme is to provide certain basic minimum needs and thereby improve the living standards of the people.

text: The target growth rate was 4.4% and the actual growth rate was 4.8%.[6]

text: Rolling Plan (1978–1980)[edit]

text: The Janata Party government rejected the Fifth Five-Year Plan and introduced a new Sixth Five-Year Plan (1978–1980). This plan was again rejected by the Indian National Congress government in 1980 and a new Sixth Plan was made. The Rolling Plan consisted of three kinds of plans that were proposed. The First Plan was for the present year which comprised the annual budget and the Second was a plan for a fixed number of years, which may be 3, 4 or 5 years. Plan number two kept changing as per the requirements of the Indian economy. The Third Plan was a perspective plan for long terms i.e. for  10, 15 or 20 years. Hence there was no fixation of dates for the commencement and termination of the plan in the rolling plans. The main advantage of the rolling plans was that they were flexible and were able to overcome the rigidity of fixed five-year plans by mending targets, the object of the exercise, projections and allocations as per the changing conditions in the country’s economy. The main disadvantage of this plan was that if the targets were revised each year, it became difficult to achieve the targets laid down in the five-year period and it turned out to be a complex plan. Also, the frequent revisions resulted in the lack of stability in the economy.

text: Sixth Plan (1980–1985)[edit]

text:
The Sixth Five-Year Plan marked the beginning of economic liberalisation. Price controls were eliminated and ration shops were closed. This led to an increase in food prices and an increase in the cost of living. This was the end of Nehruvian socialism. The National Bank for Agriculture and Rural Development was
established for development of rural areas on 12 July 1982 by recommendation of the Shivaraman Committee.
Family planning was also expanded in order to prevent overpopulation. In contrast to China's strict and binding one-child policy, Indian policy did not rely on the threat of force[citation needed]. More prosperous areas of India adopted family planning more rapidly than less prosperous areas, which continued to have a high birth rate.

text: The Sixth Five-Year Plan was a great success to the Indian economy. The target growth rate was 5.2% and the actual growth rate was 5.4%.[6] The only Five-Year Plan which was done twice.[clarification needed]

text: Seventh Plan (1985–1990)[edit]

text: The Seventh Five-Year Plan was led by the Congress Party with Rajiv Gandhi as the prime minister. The plan laid stress on improving the productivity level of industries by upgrading of technology.

text: The main objectives of the Seventh Five-Year Plan were to establish growth in areas of increasing economic productivity, production of food grains, and generating employment through "Social Justice".

text: As an outcome of the Sixth Five-Year Plan, there had been steady growth in agriculture, controls on the rate of inflation, and favourable balance of payments which had provided a strong base for the Seventh Five-Year Plan to build on the need for further economic growth. The Seventh Plan had strived towards socialism and energy production at large. The thrust areas of the Seventh Five-Year Plan were: social justice, removal of oppression of the weak, using modern technology, agricultural development, anti-poverty programmes, full supply of food, clothing, and shelter, increasing productivity of small- and large-scale farmers, and making India an independent economy.

text: Based on a 15-year period of striving towards steady growth, the Seventh Plan was focused on achieving the prerequisites of self-sustaining growth by the year 2000. The plan expected the labour force to grow by 39 million people and employment was expected to grow at the rate of 4% per year.

text: Some of the expected outcomes of the Seventh Five-Year Plan India are given below:

text:
Balance of payments (estimates): Export – ₹330 billion (US$4.6 billion), Imports – (-)₹540 billion (US$7.5 billion), Trade Balance – (-)₹210 billion (US$2.9 billion)
Merchandise exports (estimates): ₹606.53 billion (US$8.4 billion)
Merchandise imports (estimates): ₹954.37 billion (US$13.3 billion)
Projections for balance of payments: Export – ₹607 billion (US$8.5 billion), Imports – (-) ₹954 billion (US$13.3 billion), Trade Balance- (-) ₹347 billion (US$4.8 billion)

tag: ul

text: Under the Seventh Five-Year Plan, India strove to bring about a self-sustained economy in the country with valuable contributions from voluntary agencies and the general populace.

text: The target growth rate was 5.0% and the actual growth rate was 6.01%.[8] and the growth rate of per capita income was 3.7%.

text: Annual Plans (1990–1992)[edit]

text: The Eighth Plan could not take off in 1990 due to the fast changing political situation at the centre and the years 1990–91 and 1991–92 were treated as Annual Plans. The Eighth Plan was finally formulated for the period 1992–1997.

text: Eighth Plan (1992–1997)[edit]

text: 1989–91 was a period of economic instability in India and hence no five-year plan was implemented. Between 1990 and 1992, there were only Annual Plans. In 1991, India faced a crisis in foreign exchange (forex) reserves, left with reserves of only about US$1 billion. Thus, under pressure, the country took the risk of reforming the socialist economy. P.V. Narasimha Rao was the ninth Prime Minister of the Republic of India and head of Congress Party, and led one of the most important administrations in India's modern history, overseeing a major economic transformation and several incidents affecting national security. At that time Dr. Manmohan Singh (later Prime Minister of India) launched India's free market reforms that brought the nearly bankrupt nation back from the edge. It was the beginning of liberalization, privatisation and globalization (LPG) in India.

text: Modernization of industries was a major highlight of the Eighth Plan. Under this plan, the gradual opening of the Indian economy was undertaken to correct the burgeoning deficit and foreign debt. Meanwhile, India became a member of the World Trade Organization on 1 January 1995. The major objectives included, controlling population growth, poverty reduction, employment generation, strengthening the infrastructure, institutional building, tourism management, human resource development, involvement of Panchayati rajs, Nagar Palikas, NGOs, decentralisation and people's participation.

text: Energy was given priority with 26.6% of the outlay.

text: The target growth rate was 5.6% and the actual growth rate was 6.8%.

text: To achieve the target of an average of 5.6% per annum, investment of 23.2% of the gross domestic product was required. The incremental capital ratio is 4.1. The saving for investment was to come from domestic sources and foreign sources, with the rate of domestic saving at 21.6% of gross domestic production and of foreign saving at 1.6% of gross domestic production.[9]

text: Ninth Plan (1997–2002)[edit]

text: The Ninth Five-Year Plan came after 50 years of Indian Independence. Atal Bihari Vajpayee was the Prime Minister of India during the Ninth Five-Year Plan. The Ninth Five-Year Plan tried primarily to use the latent and unexplored economic potential of the country to promote economic and social growth. It offered strong support to the social spheres of the country in an effort to achieve the complete elimination of poverty. The satisfactory implementation of the Eighth Five-Year Plan also ensured the states' ability to proceed on the path of faster development. The Ninth Five-Year Plan also saw joint efforts from the public and the private sectors in ensuring economic development of the country. In addition, the Ninth Five-Year Plan saw contributions towards development from the general public as well as governmental agencies in both the rural and urban areas of the country. New implementation measures in the form of Special Action Plans (SAPs) were evolved during the Ninth Five-Year Plan to fulfill targets within the stipulated time with adequate resources. The SAPs covered the areas of social infrastructure, agriculture, information technology and Water policy.

text: Budget

text: The Ninth Five-Year Plan had a total public sector plan outlay of ₹859,200 crore (US$120 billion). The Ninth Five-Year Plan also saw a hike of 48% in terms of plan expenditure and 33% in terms of the plan outlay in comparison to that of the Eighth Five-Year Plan. In the total outlay, the share of the center was approximately 57% while it was 43% for the states and the union territories.

text: The Ninth Five-Year Plan focused on the relationship between the rapid economic growth and the quality of life for the people of the country. The prime focus of this plan was to increase growth in the country with an emphasis on social justice and equity. The Ninth Five-Year Plan placed considerable importance on combining growth oriented policies with the mission of achieving the desired objective of improving policies which would work towards the improvement of the poor in the country. The Ninth Five-Year Plan also aimed at correcting the historical inequalities which were still prevalent in the society.

text: Objectives

text: The main objective of the Ninth Five-Year Plan was to correct historical inequalities and increase the economic growth in the country. Other aspects which constituted the Ninth Five-Year Plan were:

text:
Population control.
Generating employment by giving priority to agriculture and rural development.
Reduction of poverty.
Ensuring proper availability of food and water for the poor.
Availability of primary health care facilities and other basic necessities.
Primary education to all children in the country.
Empowering the socially disadvantaged classes like Scheduled castes, Scheduled tribes and other backward classes.
Developing self-reliance in terms of agriculture.
Acceleration in the growth rate of the economy with the help of stable prices.

text: Strategies

text:
Structural transformations and developments in the Indian economy.
New initiatives and initiation of corrective steps to meet the challenges in the economy of the country.
Efficient use of scarce resources to ensure rapid growth.
Combination of public and private support to increase employment.
Enhancing high rates of export to achieve self-reliance.
Providing services like electricity, telecommunication, railways etc.
Special plans to empower the socially disadvantaged classes of the country.
Involvement and participation of Panchayati Raj institutions/bodies and Nagar Palikas in the development process.

text: Performance

text:
The Ninth Five-Year Plan achieved a GDP growth rate of 5.4% against a target of 6.5%
The agriculture industry grew at a rate of 2.1% against the target of 4.2%
The industrial growth in the country was 4.5% which was higher than that of the target of 3%
The service industry had a growth rate of 7.8%.
An average annual growth rate of 6.7% was reached.

text: The Ninth Five-Year Plan looks through the past weaknesses in order to frame the new measures for the overall socio-economic development of the country. However, for a well-planned economy of any country, there should be a combined participation of the governmental agencies along with the general population of that nation. A combined effort of public, private, and all levels of government is essential for ensuring the growth of India's economy.

text: The target growth was 7.1% and the actual growth was 6.8%.

text: Tenth Plan (2002–2007)[edit]

text: The main objectives of the Tenth Five-Year Plan:

text:
Attain 8% GDP growth per year.
Reduction of poverty rate by 5% by 2007.
Providing gainful and high-quality employment at least to the addition to the labour force.
Reduction in gender gaps in literacy and wage rates by at least 50% by 2007.
20-point program was introduced.
Target growth: 8.1% – growth achieved: 7.7%.
The Tenth Plan was expected to follow a regional approach rather than sectoral approach to bring down regional inequalities.
Expenditure of ₹43,825 crore (US$6.1 billion) for tenth five years.

text: Out of total plan outlay, ₹921,291 crore (US$130 billion) (57.9%) was for central government and ₹691,009 crore (US$96 billion) (42.1%) was for states and union territories.

text: Eleventh Plan (2007–2012)[edit]

text:
it was in the period of Manmohan Singh as a prime minister.
It aimed to increase the enrolment in higher education of 18-23 years of age group by 2011-12.
It focused on distant education, convergence of formal, non-formal, distant and IT education institutions.
Rapid and inclusive growth (poverty reduction).
Emphasis on social sector and delivery of service therein.
Empowerment through education and skill development.
Reduction of gender inequality.
Environmental sustainability.
To increase the growth rate in agriculture, industry and services to 4%, 10% and 9% respectively.
Reduce total fertility rate to 2.1.
Provide clean drinking water for all by 2009.
Increase agriculture growth to 4%.

text: Twelfth Plan (2012–2017)[edit]

text: The Twelfth Five-Year Plan of the Government of India has been decided to achieve a growth rate of 8.2% but the National Development Council (NDC) on 27 December 2012 approved a growth rate of 8% for the Twelfth Five-Year Plan.[10]

text:
With the deteriorating global situation, the Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has said that achieving an average growth rate of 9 percent in the next five years is not possible.
The Final growth target has been set at 8% by the endorsement of the plan at the National Development Council meeting held in New Delhi.

text: "It is not possible to think of an average of 9% [in the 12th plan]. I think somewhere between 8 and 8.5 percent is feasible,”  Ahluwalia said on the sidelines of a conference of State Planning Boards and departments. The approached paper for the 12th Plan, approved last year, talked about an annual average growth rate of 9%.

text: “When I say feasible... that will require major effort. If you don’t do that, there is no God given right to grow at 8 percent. I think given that the world economy deteriorated very sharply over the last year...the growth rate in the first year of the 12th Plan (2012–13) is 6.5 to 7 percent.”

text: He also indicated that soon he should share his views with other members of the Commission to choose a final number (economic growth target) to put before the country’s NDC for its approval.

text:
The government intends to reduce poverty by 10% during the 12th Five-Year Plan. Ahluwalia said, “We aim to reduce poverty estimates by 9% annually on a sustainable basis during the Plan period".
Earlier, addressing a conference of State Planning Boards and Planning departments, he said the rate of decline in poverty doubled during the 11th Plan. The commission had said, while using the Tendulkar poverty line, the rate of reduction in the five years between 2004–05 and 2009–10, was about 1.5%points each year, which was twice that when compared to the period between 1993–95 to 2004–05.[11]
The plan aims towards the betterment of the infrastructural projects of the nation avoiding all types of bottlenecks.  The document presented by the planning commission is aimed to attract private investments of up to US$1 trillion in the infrastructural growth in the 12th five-year plan, which will also ensure a reduction in the subsidy burden of the government to 1.5 percent from 2 percent of the GDP (gross domestic product). The UID (Unique Identification Number) will act as a platform for cash transfer of the subsidies in the plan.

text: The objectives of the Twelfth Five-Year Plan were:

text:
To create 50 million new work opportunities in the non farm sector.
To remove gender and social gap in school enrolment.
To enhance access to higher education.
To reduce malnutrition among children aged 0-3 years.
To provide electricity to all villages.
To ensure that 50% of the rural population have accesses to proper drinking water.
To increase green cover by 1 million hectare every year.
To provide access to banking services to 90% of households.


document_title: Economy of Canada

question_text: what percentage of canada's economy is oil and gas

question_tokens: what percentage of canada 's economy is oil and gas

text: Economy of Canada

text: Overview[edit]

text:
Part of a series on theEconomy of Canada
Economic history of Canada
Banking history
Petroleum history
Energy policy of Canada
Canadian dollar

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text: With the exception of a few island nations in the Caribbean, Canada is the only major Parliamentary system in the Western Hemisphere. As a result, Canada has developed its own social and political institutions, distinct from most other countries in the world.[30] Though the Canadian economy is closely integrated with the American economy, it has developed unique economic institutions.

text: The Canadian economic system generally combines elements of private enterprise and public enterprise. Many aspects of public enterprise, most notably the development of an extensive social welfare system to redress social and economic inequities, were adopted after the end of World War Two in 1945.[30]

text: Canada has a private to public (Crown) property ratio of 60:40 and one of the highest levels of economic freedom in the world. Today Canada closely resembles the U.S. in its market-oriented economic system and pattern of production.[31] As of 2017, Canada has 58 companies in the Forbes Global 2000 list, ranking seventh behind France and ahead of India.[32]

text: International trade makes up a large part of the Canadian economy, particularly of its natural resources. In 2009, agriculture, energy, forestry and mining exports accounted for about 58% of Canada's total exports.[33] Machinery, equipment, automotive products and other manufactures accounted for a further 38% of exports in 2009.[33] In 2009, exports accounted for about 30% of Canada's GDP. The United States is by far its largest trading partner, accounting for about 73% of exports and 63% of imports as of 2009.[34] Canada's combined exports and imports ranked 8th among all nations in 2006.[35]

text: About 4% of Canadians are directly employed in primary resource fields, and they account for 6.2% of GDP.[36] They are still paramount in many parts of the country. Many, if not most, towns in northern Canada, where agriculture is difficult, exist because of a nearby mine or source of timber. Canada is a world leader in the production of many natural resources such as gold, nickel, uranium, diamonds, lead, and in recent years, crude petroleum, which, with the world's second-largest oil reserves, is taking an increasingly prominent position in natural resources extraction. Several of Canada's largest companies are based in natural resource industries, such as Encana, Cameco, Goldcorp, and Barrick Gold. The vast majority of these products are exported, mainly to the United States. There are also many secondary and service industries that are directly linked to primary ones. For instance one of Canada's largest manufacturing industries is the pulp and paper sector, which is directly linked to the logging business.

text: The reliance on natural resources has several effects on the Canadian economy and Canadian society. While manufacturing and service industries are easy to standardize, natural resources vary greatly by region. This ensures that differing economic structures developed in each region of Canada, contributing to Canada's strong regionalism. At the same time the vast majority of these resources are exported, integrating Canada closely into the international economy. Howlett and Ramesh argue that the inherent instability of such industries also contributes to greater government intervention in the economy, to reduce the social impact of market changes.[37]

text: Natural resource industries also raise important questions of sustainability. Despite many decades as a leading producer, there is little risk of depletion. Large discoveries continue to be made, such as the massive nickel find at Voisey's Bay. Moreover, the far north remains largely undeveloped as producers await higher prices or new technologies as many operations in this region are not yet cost effective. In recent decades Canadians have become less willing to accept the environmental destruction associated with exploiting natural resources. High wages and Aboriginal land claims have also curbed expansion. Instead many Canadian companies have focused their exploration, exploitation and expansion activities overseas where prices are lower and governments more amenable. Canadian companies are increasingly playing important roles in Latin America, Southeast Asia, and Africa.

text: The depletion of renewable resources has raised concerns in recent years. After decades of escalating overutilization the cod fishery all but collapsed in the 1990s, and the Pacific salmon industry also suffered greatly. The logging industry, after many years of activism, has in recent years moved to a more sustainable model, or to other countries.

text: Unemployment rate[edit]

text:
Province

Unemployment ratepercentage of populationas of March 2018[38]

 Newfoundland and Labrador

14.2

 Prince Edward Island

10.3

 New Brunswick

8.0

 Nova Scotia

7.4

 Alberta

6.3

 Manitoba

6.2

 Saskatchewan

5.8

 Quebec

5.6

 Ontario

5.5

 British Columbia

4.7

 Canada (national)

5.8

text: Measuring productivity[edit]

text: Productivity measures are key indicators of economic performance and a key source of economic growth and competitiveness. The Organisation for Economic Co-operation and Development (OECD)'s[notes 1] Compendium of Productivity Indicators,[39] published annually, presents a broad overview of productivity levels and growth in member nations, highlighting key measurement issues. It analyses the role of "productivity as the main driver of economic growth and convergence" and the "contributions of labour, capital and MFP in driving economic growth".[39] According to the definition above "MFP is often interpreted as the contribution to economic growth made by factors such as technical and organisational innovation" (OECD 2008,11). Measures of productivity include Gross Domestic Product (GDP)(OECD 2008,11) and multifactor productivity.

text: Gross Domestic Product (GDP)[edit]

text: The OECD provides data for example comparing labour productivity levels in the total economy of each member nation. In their 2012 report Canada's Gross Domestic Product (GDP) was $CDN 1,773,763,000,000.[40]

text: In the International Monetary Fund's (IMF) quarterly World Economic Outlook released in April 2015, the IMF forecast that Canada's real gross domestic product (GDP) would grow 2.2 percent. In the July World Economic Outlook the IMF forecast that Canada's real GDP would grow by 1.5 per cent in 2015.[41]

text: According to CTV News real estate accounts for half of all GDP growth.[42]

text: Multifactor productivity (MFP)[edit]

text: Another productivity measure, used by the OECD, is the long-term trend in multifactor productivity (MFP) also known as total factor productivity (TFP). This indicator assesses an economy's "underlying productive capacity ('potential output'), itself an important measure of the growth possibilities of economies and of inflationary pressures". MFP measures the residual growth that cannot be explained by the rate of change in the services of labour, capital and intermediate outputs, and is often interpreted as the contribution to economic growth made by factors such as technical and organisational innovation. (OECD 2008,11)

text: According to the OECD's annual economic survey of Canada in June 2012, Canada has experienced weak growth of multi-factor productivity (MFP) and has been declining further since 2002. One of the ways MFP growth is raised is by boosting innovation and Canada's innovation indicators such as business R&D and patenting rates were poor. Raising MFP growth is "needed to sustain rising living standards, especially as the population ages".[43]

text: Bank of Canada[edit]

text: Inflation targeting[edit]

text: The Bank of Canada, a federal crown corporation, has the responsibility of Canada's monetary system. During the period that John Crow was Governor of the Bank of Canada—1987 to 1994— there was a worldwide recession and the bank rate rose to around 14% and unemployment topped 11%.[44] In 1991, with Prime Minister Brian Mulroney in office, the federal government and the Bank of Canada announced a new inflation-targeting monetary policy that has been the cornerstone of Canada's monetary and fiscal policy ever since.[45][46] Although since that time inflation-targeting has been adopted by "most advanced-world central banks",[47] in 1991 it was innovative and Canada was an early adopter when the then-Finance Minister Michael Wilson approved the Bank of Canada's first inflation-targeting in the 1991 federal budget.[47] The inflation target was set at 2 per cent, which is the midpoint of an inflation range of 1 to 3 per cent. They established a set of inflation-reduction targets to keep inflation "low, stable and predictable" and to foster "confidence in the value of money", contribute to Canada's sustained growth, employment gains and improved standard of living.[45] Inflation is measured by the total consumer price index (CPI). In 2011 the Government of Canada and the Bank of Canada extended Canada's inflation-control target to December 31, 2016.[45] The Bank of Canada uses three unconventional instruments to achieve the inflation target: "a conditional statement on the future path of the policy rate", quantitative easing, and credit easing.[48]

text: As a result, interest rates and inflation eventually came down along with the value of the Canadian dollar.[44] From 1991 to 2011 the inflation-targeting regime kept "price gains fairly reliable".[47]

text: Following the Financial crisis of 2007–08 the narrow focus of inflation-targeting as a means of providing stable growth in the Canadian economy was questioned. By 2011, the then-Bank of Canada Governor Mark Carney argued that the central bank's mandate would allow for a more flexible inflation-targeting in specific situations where he would consider taking longer "than the typical six to eight quarters to return inflation to 2 per cent".[47]

text: The central bank—the Bank of Canada—issues its rate announcement through its Monetary Policy Report which is released eight times a year.[45] On July 15, 2015, the Bank of Canada announced that it was lowering its target for the overnight rate by another one-quarter percentage point, to 0.5 per cent[49] "to try to stimulate an economy that appears to have failed to rebound meaningfully from the oil shock woes that dragged it into decline in the first quarter".[41] According to the Bank of Canada announcement, in the first quarter of 2015, the total Consumer price index (CPI) inflation was about 1 per cent. This reflects "year-over-year price declines for consumer energy products". Core inflation in the first quarter of 2015 was about 2 per cent with an underlying trend in inflation at about 1.5 to 1.7 per cent.[49]

text: In response to the Bank of Canada's July 15, 2015 rate adjustment, Prime Minister Stephen Harper explained that the economy was "being dragged down by forces beyond Canadian borders such as  global oil prices, the European debt crisis, and China's economic slowdown" which has made the global economy "fragile".[50]

text: The Chinese stock market had lost about US$3 trillion of wealth by July 2015 when panicked investors sold stocks, which created declines in the commodities markets, which in turn negatively impacted resource-producing countries like Canada.[51]

text: The Bank's main priority has been to keep inflation at a moderate level.[52] As part of that strategy, interest rates were kept at a low level for almost seven years. Since September 2010, the key interest rate (overnight rate) was 0.5%. In mid 2017, inflation remained below the Bank's 2% target, (at 1.6%)[53] mostly because of reductions in the cost of energy, food and automobiles; as well, the economy was in a continuing spurt with a predicted GDP growth of 2.8 percent by year end.[54][55] Early on 12 July 2017, the bank issued a statement that the benchmark rate would be increased to 0.75%. "The economy can handle very well this move we have today and of course you need to preface that with an acknowledgment that of course interest rates are still very low", Governor Stephen Poloz subsequently said. In its press release, the bank had confirmed that the rate would continue to be evaluated at least partly on the basis of inflation. "Future adjustments to the target for the overnight rate will be guided by incoming data as they inform the bank's inflation outlook, keeping in mind continued uncertainty and financial system vulnerabilities."[56][57] Poloz refused to speculate on the future of the economy but said, "I don't doubt that interest rates will move higher, but there's no predetermined path in mind at this stage".[58]

text: Key industries[edit]

text: In 2016, the Canadian economy had the following relative weighting by industry, as percentage value of GDP:[36][59]

text:
13.04 Real estate and rental and leasing
10.36 Manufacturing
08.14 Mining, quarrying and oil or gas extraction
07.10 Finance and insurance
06.69 Health care and social assistance
06.33 Public administration
05.66 Wholesale trade
05.52 Professional scientific and technical services
05.41 Retail trade
05.28 Educational services
04.44 Transportation and warehousing
03.11 Information and cultural industries
02.55 Administrative and support, waste management and remediation services
02.27 Utilities
02.17 Accommodation and food services
01.93 Other services (except public administration)
01.65 Agriculture, forestry, fishing and hunting
00.77 Arts, entertainment and recreation
00.67 Management of companies and enterprises

text: Service sector[edit]

text: The service sector in Canada is vast and multifaceted, employing about three quarters of Canadians and accounting for 70% of GDP.[60] The largest employer is the retail sector, employing almost 12% of Canadians.[61] The retail industry is concentrated mainly in a small number of chain stores clustered together in shopping malls. In recent years, there has been an increase in the number of big-box stores, such as Wal-Mart (of the United States), Real Canadian Superstore, and Best Buy (of the United States). This has led to fewer workers in this sector and a migration of retail jobs to the suburbs.

text: The second largest portion of the service sector is the business service and hire only a slightly smaller percentage of the population.[62] This includes the financial services, real estate, and communications industries. This portion of the economy has been rapidly growing in recent years. It is largely concentrated in the major urban centres, especially Toronto, Montreal and Vancouver (see Banking in Canada).

text: The education and health sectors are two of Canada's largest, but both are largely under the influence of the government. The health care industry has been quickly growing, and is the third largest in Canada. Its rapid growth has led to problems for governments who must find money to fund it.

text: Canada has an important high tech industry, and a burgeoning film, television, and entertainment industry creating content for local and international consumption (see Media in Canada).[63] Tourism is of ever increasing importance, with the vast majority of international visitors coming from the United States. Casino gaming is currently the fastest-growing component of the Canadian tourism industry, contributing $5 billion in profits for Canadian governments and employing 41,000 Canadians as of 2001.[64]

text: Manufacturing[edit]

text: The general pattern of development for wealthy nations was a transition from a primary industry based economy to a manufacturing based one, and then to a service based economy. Canada did not escape this pattern – at its (abnormally high World War II) peak in 1944, manufacturing accounted for 29% of GDP,[65] declining to 15.6% in 2005. Canada has not suffered as greatly as most other rich, industrialized nations from the pains of the relative decline in the importance of manufacturing since the 1960s.[66] A 2009 study by Statistics Canada also found that, while manufacturing declined as a relative percentage of GDP from 24.3% in the 1960s to 15.6% in 2005, manufacturing volumes between 1961 and 2005 kept pace with the overall growth in the volume index of GDP.[67] Manufacturing in Canada was especially hit hard by the financial crisis of 2007–08. As of 2010, manufacturing accounts for 13% of Canada's GDP,[36] a relative decline of more than 2% of GDP since 2005.

text: Central Canada is home to branch plants to all the major American and Japanese automobile makers and many parts factories owned by Canadian firms such as Magna International and Linamar Corporation.

text: Energy[edit]

text: Canada is one of the few developed nations that is a net exporter of energy—in 2009 net exports of energy products amounted to 2.9% of GDP. Most important are the large oil and gas resources centred in Alberta and the Northern Territories, but also present in neighbouring British Columbia and Saskatchewan. The vast Athabasca oil sands give Canada the world's third largest reserves of oil after Saudi Arabia and Venezuela according to USGS. In British Columbia and Quebec, as well as Ontario, Saskatchewan, Manitoba and the Labrador region, hydroelectric power is an inexpensive and relatively environmentally friendly source of abundant energy. In part because of this, Canada is also one of the world's highest per capita consumers of energy.[68][69] Cheap energy has enabled the creation of several important industries, such as the large aluminum industries in British Columbia[70] and Quebec.[71]

text: Historically, an important issue in Canadian politics is the interplay between the oil and energy industry in Western Canada and the industrial heartland of Southern Ontario. Foreign investment in Western oil projects has fueled Canada's rising dollar. This has raised the price of Ontario's manufacturing exports and made them less competitive, a problem similar to the decline of the manufacturing sector in the Netherlands.[72][73] Also, Ontario has relatively fewer native sources of power. However, it is cheaper for Alberta to ship its oil to the western United States than to eastern Canada. The eastern Canadian ports thus import significant quantities of oil from overseas, and Ontario makes significant use of nuclear power.[74]

text: The National Energy Policy of the early 1980s attempted to force Alberta to sell low-priced oil to eastern Canada. This policy proved deeply divisive, and quickly lost its importance as oil prices collapsed in the mid-1980s. One of the most controversial sections of the Canada–United States Free Trade Agreement of 1988 was a promise that Canada would never charge the United States more for energy than fellow Canadians.

text: Agriculture[edit]

text: Canada is also one of the world's largest suppliers of agricultural products, particularly of wheat and other grains.[75] Canada is a major exporter of agricultural products, to the United States and Asia. As with all other developed nations the proportion of the population and GDP devoted to agriculture fell dramatically over the 20th century.

text: As with other developed nations, the Canadian agriculture industry receives significant government subsidies and supports. However, Canada has been a strong supporter of reducing market influencing subsidies through the World Trade Organization. In 2000, Canada spent approximately CDN$4.6 billion on supports for the industry. Of this, $2.32 billion was classified under the WTO designation of "green box" support, meaning it did not directly influence the market, such as money for research or disaster relief. All but $848.2 million were subsidies worth less than 5% of the value of the crops they were provided for.

text: Free-trade agreements[edit]

text: Free-trade agreements in force[76][edit]

text:
Canada–U.S. Free Trade Agreement (Signed 12 October 1987, entered into force 1 January 1989, later superseded by NAFTA)
North American Free Trade Agreement (Entered into force 1 January 1994, includes Canada, U.S. and Mexico)
Canada–Israel Free Trade Agreement (Entered into force 1 January 1997, modernization ongoing)
Canada–Chile Free Trade Agreement (Entered into force 5 July 1997)
Canada–Costa Rica Free Trade Agreement (Entered into force 1 November 2002, modernization ongoing)
Canada–European Free Trade Association Free Trade Agreement (Iceland, Norway, Switzerland and Liechtenstein; entered into force 01-Jul-2009)
Canada–Peru Free Trade Agreement (Entered into force 1 August 2009)
Canada–Colombia Free Trade Agreement (Signed 21 November 2008, entered into force 15 August 2011; Canada's ratification of this FTA had been dependent upon Colombia's ratification of the "Agreement Concerning Annual Reports on Human Rights and Free Trade Between Canada and the Republic of Colombia" signed on 27 May 2010)
Canada–Jordan Free Trade Agreement (Signed on 28 June 2009, entered into force 1 October 2012)
Canada–Panama Free Trade Agreement (Signed on 14 May 2010, entered into force 1 April2013)
Canada–South Korea Free Trade Agreement (Signed on 11 March 2014, entered into force 1 January 2015)

text: Free-trade agreements concluded[77][edit]

text:
Trans-Pacific Partnership (concluded 5 October 2015)
Canada–Ukraine Free Trade Agreement (concluded 14 July 2015)
Comprehensive Economic and Trade Agreement (concluded 5 August 2014)

text: Ongoing free-trade agreements negotiations[77][edit]

text: Canada is negotiating bilateral FTAs with the following countries and trade blocs:

text:
Caribbean Community (CARICOM)
Guatemala, Nicaragua and El Salvador
Dominican Republic
India
Japan[78]
Morocco
Singapore
Andean Community (FTA's are already in force with Peru and Colombia)

text: Canada has been involved in negotiations to create the following regional trade blocks:

text:
Canada–Central American Free Trade Agreement
Free Trade Area of the Americas (FTAA)

text: Political issues[edit]

text: Relations with the U.S.[edit]

text: Canada and the United States share a common trading relationship. Canada's job market continues to perform well along with the US, reaching a 30-year low in the unemployment rate in December 2006, following 14 consecutive years of employment growth.[79]

text: The United States is by far Canada's largest trading partner, with more than $1.7 billion CAD in trade per day in 2005.[80] In 2009, 73% of Canada's exports went to the United States, and 63% of Canada's imports were from the United States.[81] Trade with Canada makes up 23% of the United States' exports and 17% of its imports.[82]  By comparison, in 2005 this was more than U.S. trade with all countries in the European Union combined,[83] and well over twice U.S. trade with all the countries of Latin America combined.[84]  Just the two-way trade that crosses the Ambassador Bridge between Michigan and Ontario equals all U.S. exports to Japan. Canada's importance to the United States is not just a border-state phenomenon: Canada is the leading export market for 35 of 50 U.S. states, and is the United States' largest foreign supplier of energy.

text: Bilateral trade increased by 52% between 1989, when the U.S.–Canada Free Trade Agreement (FTA) went into effect, and 1994, when the North American Free Trade Agreement (NAFTA) superseded it.[citation needed] Trade has since increased by 40%. NAFTA continues the FTA's moves toward reducing trade barriers and establishing agreed-upon trade rules. It also resolves some long-standing bilateral irritants and liberalizes rules in several areas, including agriculture, services, energy, financial services, investment, and government procurement. NAFTA forms the largest trading area in the world, embracing the 405 million people of the three North American countries.

text: The largest component of U.S.–Canada trade is in the commodity sector.

text: The U.S. is Canada's largest agricultural export market, taking well over half of all Canadian food exports.[85] Nearly two-thirds of Canada's forest products, including pulp and paper, are exported to the United States; 72% of Canada's total newsprint production also is exported to the U.S.

text: At $73.6 billion in 2004, U.S.-Canada trade in energy is the largest U.S. energy trading relationship, with the overwhelming majority ($66.7 billion) being exports from Canada. The primary components of U.S. energy trade with Canada are petroleum, natural gas, and electricity. Canada is the United States' largest oil supplier and the fifth-largest energy producing country in the world. Canada provides about 16% of U.S. oil imports and 14% of total U.S. consumption of natural gas. The United States and Canada's national electricity grids are linked, and both countries share hydropower facilities on the western borders.

text: While most of U.S.-Canada trade flows smoothly, there are occasionally bilateral trade disputes, particularly in the agricultural and cultural fields.[citation needed] Usually these issues are resolved through bilateral consultative forums or referral to World Trade Organization (WTO) or NAFTA dispute resolution.[citation needed] In May 1999, the U.S. and Canadian governments negotiated an agreement on magazines that provides increased access for the U.S. publishing industry to the Canadian market. The United States and Canada also have resolved several major issues involving fisheries. By common agreement, the two countries submitted a Gulf of Maine boundary dispute to the International Court of Justice in 1981; both accepted the court's 12 October 1984 ruling which demarcated the territorial sea boundary. A current issue between the United States and Canada is the ongoing softwood lumber dispute, as the U.S. alleges that Canada unfairly subsidizes its forestry industry.[citation needed]

text: In 1990, the United States and Canada signed a bilateral Fisheries Enforcement Agreement, which has served to deter illegal fishing activity and reduce the risk of injury during fisheries enforcement incidents. The U.S. and Canada signed a Pacific Salmon Agreement in June 1999 that settled differences over implementation of the 1985 Pacific Salmon Treaty for the next decade.[86]

text: Canada and the United States signed an aviation agreement during Bill Clinton's visit to Canada in February 1995, and air traffic between the two countries has increased dramatically as a result. The two countries also share in operation of the St. Lawrence Seaway, connecting the Great Lakes to the Atlantic Ocean.[87]

text: The U.S. is Canada's largest foreign investor and the most popular destination for Canadian foreign investments; at the end of 2007, the stock of U.S. direct investment in Canada was estimated at $293 billion, while Canadian direct investment (stock) in the United States was valued at $213 billion.[88][89] U.S. FDI accounts for 59.5% of total foreign direct investment in Canada while Canadian FDI in the U.S. accounts for 10% (5th largest foreign investor).[90] US investments are primarily directed at Canada's mining and smelting industries, petroleum, chemicals, the manufacture of machinery and transportation equipment, and finance, while Canadian investment in the United States is concentrated in manufacturing, wholesale trade, real estate, petroleum, finance, and insurance and other services.[91]

text: Debt issue[edit]

text: Central Government Debt[edit]

text: The OECD reports the Central Government Debt as percentage of the GDP. In 2000 Canada's was 40.9 percent, in 2007 it was 25.2 percent, in 2008 it was 28.6 percent and by 2010 it was 36.1 percent.[92] The OECD reports net financial liabilities measure used by the OECD, reports the net number at 25.2%, as of 2008,[92] making Canada's total government debt burden as the lowest in the G8. The gross number was 68% in 2011.[93]

text: The CIA World Factbook, updated weekly, measures financial liabilities by using gross general government debt, as opposed to net federal debt used by the OECD and the Canadian federal government. Gross general government debt includes both "intragovernmental debt and the debt of public entities at the sub-national level". For example, the CIA measured Canada's public debt as 84.1% of GDP in 2012 and 87.4% of GDP in 2011 making it 22nd in the world.[94]

text: Household Debt[edit]

text: In March 2015 the International Monetary Fund reported that Canada's high household debt was one of two vulnerable domestic areas in Canada's economy; the second is its overheated housing market.[95]

text: According to a July 2015 report by Laura Cooper, an economist with the RBC—the largest financial institution in Canada—"outstanding household credit balances" had reached $1.83 trillion.[96] Canadian household credit growth had reached a peak in 2009 then plummeted to a cycle-low in late 2013.[96] There was a quickened pace of growth in household debt in December 2012 and another in April and May 2015.[96][97]

text: Household debt in 2013[edit]

text: According to the August 2013 third annual Ipsos Reid Debt Poll only 24 per cent of Canadians were debt free in 2013 compared to 26 per cent in 2012. The average personal non-mortgage debt in 2013 was $15,920 up from $13,141 in 2012. According to an IPSOS chart produced in 2013 debt levels increased "a staggering 35 per cent" in Western Canada compared to 10 per cent in Eastern Canada since 2012 even before the Alberta floods.[98] In Alberta in 2013 household debt rose 63 per cent to $24,271 per household from 2012 after the 2013 Alberta floods.[99] In 2013 the average personal debt load in British Columbia was "up 38 per cent to $15,549"; in "Manitoba and Saskatchewan, up 32 per cent to $16,145"; in Ontario, "up 13 per cent to $17,416", in Quebec up "3 per cent to $10,458"; and in Atlantic Canada, "up 12 per cent to $15,243".

text: Household debt in 2014[edit]

text: Statistics Canada announced in December 2014 that Canada's household debt-to-income ratio "hit a record high in the third quarter of 2014, climbing to 162.6 percent from 161.5 percent in the second quarter". However "household assets and net worth increased much faster than debt",[100] with the national net worth at C$8.12 trillion in the third quarter of 2014, a increase of 2.8 percent from the second quarter.[101][102] Also through the inflation-targeting policy of the Bank of Canada, interest rates are kept low improving the ability of households to service their debt. "The debt-service ratio, or interest paid as a proportion of disposable income, fell to a record low 6.8 percent in the third quarter."[101]

text: Household debt in 2015[edit]

text: By 2015 according to The Globe and Mail, "The total debt owed by all Canadians at the end of March 2015 was a record $1.8-trillion with mortgage debt making up $1.29-trillion."[103]

text: According to Philip Cross of the Fraser Institute, in May 2015, while the Canadian household debt-to-income ratio is similar to that in the US, however lending standards in Canada are tighter than those in the United States to protect against high-risk borrowers taking out unsustainable debt.[100]

text: Household debt, the amount of money that all adults in the household owe financial institutions, includes consumer debt and mortgage loans. Paul Krugman argued that by 2007 household debt in the United States, prior to the financial crisis, had reached 130 percent of household income. Krugman distinguished between the total domestic non-financial debt (public plus private) relative to GDP which is "money we owe to ourselves" and net foreign debt.[104][105] Statistics Canada reported in March 2013 that "credit-market debt such as mortgages rose to 165% of disposable income, compared with 164.7% in the prior three-month period" in 2013[106] According to the IMF in 2012, "Housing-related debt (mortgages) comprises about 70 percent of gross household debt in advanced economies. The remainder consists mainly of credit card debt and auto loans."[107]

text: Royal Bank of Canada 2016 report[edit]

text: As shown in the table below—based on the RBC Economic and Financial Market Outlook March 11, 2016 report—in Canada in 2015—while business investments decreased—consumption, housing and government spending along with net exports contributed to a real GDP increase at a subpar 1.2% pace.[108]:4 In December 2015 export volumes reached $1.2 billion—the sixth time since 2010 with sales growing by such a large amount[108]:5-evidence that the Canadian economy is transitioning. In November and December 2015, with the weakening in the Canadian dollar, manufacturing sales and exports increased and employment rose.[108] Job losses in construction, mining, oil and gas were countered by gains in the service sector.[108]

text: Between early December, 2015 and mid-January the price of oil unexpectedly dropped 24%.[108]:1 RBC economists argued that fear not fundamentals led the shift in financial conditions.:1 Risk averse investors contributed to a global double-digit decline in the first six weeks of 2016. In Canada, the US, UK and Euro-area yields on long-term government bonds reached an all-time low.[108]:1 As financial market volatility continued in March 2016 the Bank of Canada and Bank of England held their policy rate at 0.5%.[108]:6

text:
RBC Economic Forecast March 2016[108]:8

Type
2014 YR
2015 YR
Q1 2015
Q2 2015
Q3 2015
Q4 2015

Household consumption
2.6
1.9
0.6
1.9
2.2
1.0

* Durables
4.3
3.3
−5.6
5.1
10.3
1.7

* Semi-Durables
3.1
2.4
0.2
3.0
1.2
2.6

* Non-durables
2.4
0.7
2.7
−2.9
1.7
−1.0

* Services
2.3
2.1
1.2
3.3
0.8
1.5

NPISH consumption
0.2
1.4
−5.3
6.7
−0.9
−0.1

Government expenditures
0.3
1.4
3.8
2.4
0.1
1.5

Government Fixed investment
2.1
2.6
2.8
0.5
−1.8
−5.1

Residential investment
2.5
3.9
5.9
1.3
2.7
1.8

Non-residential investment
0.0
−8.8
−19.4
−13.0
−10.1
−12.4

* Non-residential structures
−0.4
−12.7
−27.7
−12.8
−11.7
−14.6

* Machinery and equipment
1.0
−1.3
−2.1
−13.4
−7.5
−9.0

Intellectual property
−4.2
−12.6
−32.4
−12.5
−6.4
−4.7

Final domestic demand
1.6
0.5
−1.5
0.1
10.8
−2.2

Exports
5.3
3.0
−0.6
−0.1
10.8
−2.2

Imports
1.8
0.1
0.5
−1.7
−2.4
−8.9

Inventories (change in $b)
9.9
4.5
12.7
8.4
1.1
−4.0

Real gross domestic product
2.5
1.2
−0.9
−0.4
2.4
0.8

text: Mergers and Acquisition[edit]

text: Since 1985 63,755 deals in- and outbound Canada have been announced.[when?] This cummulates to an overall value of 3700.5 bil. USD.[109] Almost 50% of the targets of Canadian companies (outbound deals) have a parent company in the US. Inbound deals are 82% percent from the US.

text: Here is a list of the biggest deals in Canadian history:[109]

text:
Rank

Date announced

Acquiror name

Acquiror nation

Target name

Target nation

Value (in bil. USD)

1

01.26.2000

Spin-off

Canada

Nortel Networks Corp

Canada

59.97

2

06.20.2000

Vivendi SA

France

Seagram Co Ltd

Canada

40.43

3

07.12.2007

Rio Tinto Canada Holdings Inc

Canada

Alcan Inc

Canada

37.63

4

09.06.2016

Enbridge Inc

Canada

Spectra Energy Corp

United States

28.29

5

12.03.2014

Enbridge Income Fund

Canada

Enbridge Inc-Liquids

Canada

24.79

6

05.11.2008

Shareholders

Canada

Cenovus Energy Inc

Canada

20.26

7

07.23.2012

CNOOC Canada Holding Ltd

Canada

Nexen Inc

Canada

19.12

8

05.15.2006

Xstrata PLC

Switzerland

Falconbridge Ltd

Canada

17.40

9

08.11.2006

Cia Vale do Rio Doce SA

Brazil

Inco Ltd

Canada

17.15

10

03.23.2009

Suncor Energy Inc

Canada

Petro-Canada

Canada

15.58

11

07.29.2008

Teck Cominco Ltd

Canada

Fording Canadian Coal Trust

Canada

13.60


document_title: Strip steak

question_text: how did new york steak get its name

question_tokens: how did new york steak get its name

text: Strip steak

text: Other names[edit]

text: According to the National Cattlemen's Beef Association, the steak is marketed in the United States under various names, including Ambassador Steak, Boneless Club Steak, Hotel-Style Steak, Kansas City Steak, New York Steak, Top Loin, and Veiny Steak.[2]

text: In New Zealand and Australia, it is known as Porterhouse and Sirloin (striploin steak)[3] and can be found in the Handbook of Australian Meat under codes 2140 to 2143.[4]

text: In the UK and Ireland it is called sirloin.

text: In Canada, most meat purveyors refer to this cut as a strip loin;[5] in French it is known as contre-filet.

text: Delmonico's Restaurant, an operation opened in New York City in 1827, offered as one of its signature dishes a cut from the short loin called a Delmonico steak. Due to its association with the city, it is often referred to as a New York strip steak.[6]

text: Related cuts[edit]

text: When still attached to the bone, and with a piece of the tenderloin also included, the strip steak becomes a T-bone steak or a porterhouse steak, the difference being that the porterhouse has a larger portion of tenderloin included. The strip steak may be sold with or without the bone. Strip steaks may be substituted for most recipes calling for T-bone and porterhouse steaks, and sometimes for fillet and rib eye steaks.

text: A bone-in strip steak with no tenderloin attached is sometimes referred to as a shell steak.[7]


document_title: List of U.S. states by date of admission to the Union

question_text: when was the last state founded in america

text: List of U.S. states[edit]

text:
State
Date
(admitted or ratified)
Formed from

1
 Delaware
000000001787-12-07-0000December 7, 1787[8]
(ratified)
Colony of Delaware[b]

2
 Pennsylvania
000000001787-12-12-0000December 12, 1787[10]
(ratified)
Proprietary Province of Pennsylvania

3
 New Jersey
000000001787-12-18-0000December 18, 1787[11]
(ratified)
Crown Colony of New Jersey

4
 Georgia
000000001788-01-02-0000January 2, 1788[8]
(ratified)
Crown Colony of Georgia

5
 Connecticut
000000001788-01-09-0000January 9, 1788[12]
(ratified)
Crown Colony of Connecticut

6
 Massachusetts
000000001788-02-06-0000February 6, 1788[8]
(ratified)
Crown Colony of Massachusetts Bay

7
 Maryland
000000001788-04-28-0000April 28, 1788[8]
(ratified)
Proprietary Province of Maryland

8
 South Carolina
000000001788-05-23-0000May 23, 1788[8]
(ratified)
Crown Colony of South Carolina

9
 New Hampshire
000000001788-06-21-0000June 21, 1788[8]
(ratified)
Crown Colony of New Hampshire

10
 Virginia
000000001788-06-25-0000June 25, 1788[8]
(ratified)
Crown Colony and Dominion of Virginia

11
 New York
000000001788-07-26-0000July 26, 1788[13]
(ratified)
Crown Colony of New York

12
 North Carolina
000000001789-11-21-0000November 21, 1789[14]
(ratified)
Crown Colony of North Carolina

13
 Rhode Island
000000001790-05-29-0000May 29, 1790[8]
(ratified)
Crown Colony of Rhode Island and Providence Plantations

14
 Vermont
000000001791-03-04-0000March 4, 1791[15]
(admitted)
Vermont !Vermont Republic[c]

15
 Kentucky
000000001792-06-01-0000June 1, 1792[16]
(admitted)
Virginia (nine counties in its District of Kentucky[d])

16
 Tennessee
000000001796-06-01-0000June 1, 1796[18]
(admitted)
Southwest Territory

17
 Ohio
000000001803-03-01-0000March 1, 1803[19][e]
(admitted)
Northwest Territory (part)

18
 Louisiana
000000001812-04-30-0000April 30, 1812[21]
(admitted)
Orleans !Territory of Orleans

19
 Indiana
000000001816-12-11-0000December 11, 1816
(admitted)
Indiana Territory

20
 Mississippi
000000001817-12-10-0000December 10, 1817[22]
(admitted)
Mississippi Territory

21
 Illinois
000000001818-12-03-0000December 3, 1818[23]
(admitted)
Illinois Territory (part)

22
 Alabama
000000001819-12-14-0000December 14, 1819[24]
(admitted)
Alabama Territory

23
 Maine
000000001820-03-15-0000March 15, 1820[25]
(admitted)
Massachusetts (District of Maine[f])

24
 Missouri
000000001821-08-10-0000August 10, 1821[26]
(admitted)
Missouri Territory (part)

25
 Arkansas
000000001836-06-15-0000June 15, 1836[27]
(admitted)
Arkansas Territory

26
 Michigan
000000001837-01-26-0000January 26, 1837[28]
(admitted)
Michigan Territory

27
 Florida
000000001845-03-03-0000March 3, 1845
(admitted)
Florida Territory

28
 Texas
000000001845-12-29-0000December 29, 1845
(admitted)
Texas !Republic of Texas

29
 Iowa
000000001846-12-28-0000December 28, 1846
(admitted)
Iowa Territory (part)

30
 Wisconsin
000000001848-05-29-0000May 29, 1848[29]
(admitted)
Wisconsin Territory (part)

31
 California
000000001850-09-09-0000September 9, 1850[30]
(admitted)
Unorganized !unorganized territory (part)

32
 Minnesota
000000001858-05-11-0000May 11, 1858[31]
(admitted)
Minnesota Territory (part)

33
 Oregon
000000001859-02-14-0000February 14, 1859
(admitted)
Oregon Territory (part)

34
 Kansas
000000001861-01-29-0000January 29, 1861[32]
(admitted)
Kansas Territory (part)

35
 West Virginia
000000001863-06-20-0000June 20, 1863[33]
(admitted)
Virginia (50 Trans-Allegheny region counties[g])

36
 Nevada
000000001864-10-31-0000October 31, 1864
(admitted)
Nevada Territory

37
 Nebraska
000000001867-03-01-0000March 1, 1867
(admitted)
Nebraska Territory

38
 Colorado
000000001876-08-01-0000August 1, 1876[36]
(admitted)
Colorado Territory

39[h]
  North Dakota
000000001889-11-02-0000November 2, 1889[38][i]
(admitted)
Dakota Territory (part)

40
 South Dakota
000000001889-11-02-0000November 2, 1889[38][i]
(admitted)
Dakota Territory (part)

41
 Montana
000000001889-11-08-0000November 8, 1889[39]
(admitted)
Montana Territory

42
 Washington
000000001889-11-11-0000November 11, 1889[40]
(admitted)
Washington Territory

43
 Idaho
000000001890-07-03-0000July 3, 1890
(admitted)
Idaho Territory

44
 Wyoming
000000001890-07-10-0000July 10, 1890
(admitted)
Wyoming Territory

45
 Utah
000000001896-01-04-0000January 4, 1896[41]
(admitted)
Utah Territory

46
 Oklahoma
000000001907-11-16-0000November 16, 1907[42]
(admitted)
Oklahoma Territory and Indian Territory

47
 New Mexico
000000001912-01-06-0000January 6, 1912
(admitted)
New Mexico Territory

48
 Arizona
000000001912-02-14-0000February 14, 1912
(admitted)
Arizona Territory

49
 Alaska
000000001959-01-03-0000January 3, 1959
(admitted)
Alaska !Territory of Alaska

50
 Hawaii
000000001959-08-21-0000August 21, 1959
(admitted)
Hawaii !Territory of Hawaii

text: Articles of Confederation ratification dates[edit]

text: The Second Continental Congress approved the Articles of Confederation for ratification by the individual states on November 15, 1777. The Articles of Confederation came into force on March 1, 1781, after being ratified by all 13 states. On March 4, 1789, the general government under the Articles was replaced with the federal government under the present Constitution.[43]

text:
State
Date

13 !1
 Virginia
000000001777-12-16-0000December 16, 1777

12 !2
 South Carolina
000000001778-02-05-0000February 5, 1778

08 !3
 New York
000000001778-02-06-0000February 6, 1778

11 !4
 Rhode Island
000000001778-02-09-0000February 9, 1778

01 !5
 Connecticut
000000001778-02-12-0000February 12, 1778

03 !6
 Georgia
000000001778-02-26-0000February 26, 1778

06 !7
 New Hampshire
000000001778-03-04-0000March 4, 1778

10 !8
 Pennsylvania
000000001778-03-05-0000March 5, 1778

05 !9
 Massachusetts
000000001778-03-10-0000March 10, 1778

09 !10
 North Carolina
000000001778-04-05-0000April 5, 1778

07 !11
 New Jersey
000000001778-11-19-0000November 19, 1778

02 !12
 Delaware
000000001779-02-01-0000February 1, 1779

04 !13
 Maryland
000000001781-02-02-0000February 2, 1781