Indian Economy: In Simple Terms
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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.
