Indian Economy: In Simple Terms


Article Title: Indian Economy: in Simple Terms

Year of Publication: 2017

No. of Pages: 2 (two pages)

Abstract: According to National Statistics Office (NSO), in 2017, Indian GDP is worth $2.45 trillion (nominal) (more than Rs 150 lakh crore). According to purchasing power parity, India stood as 3rd largest economy in the world. Indian economy has seen 7.2% (2014), 7.6% (2015), 7.0 (2016) and 7.6% (2017-estimated) growth rates. In 2015-16, Indian GDP per capita income is estimated at Rs 93,293. It is 6.2% growth over previous year. Overall inflation rate in September 2016 stood at 4.31%. According to World Economic Outlook (2016), global growth rate is estimated at 3.1% (2015), 3.4% (2016), and 3.6% (2017). World Economic Outlook (2016) projected Indian growth rate at 7.5% for both 2016 and 2017. In 2016, USA GDP was estimated at $18.56 trillion. It is almost 7.5 times the Indian GDP.

This article describes sectors contributing to Indian Economy, Indian exports and imports, FDI (Foreign Direct Investment), Indian Budget, CSR (Corporate Social Responsibility), improvement and comparison with US economy.