A decade for youth to make India a developed Nation
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Deepak Aley
INTRODUCTION:
According to official data shared by the National Statistical Office. India’s gross domestic product (GDP) grew by 7.8 % in the April-June quarter of current fiscal (2023-2024), compared to a growth of 6.1% in the previous quarter of fiscal 2022-23. India remained the fastest growing major economy as China’s GDP growth in the April-June was 6.3%. Overtook Britian last year to become the world’s fifth largest economy,and recently surpassed china to become the most populous country.
It appears that India is at the right track of becoming 3rd largest economy by 2030. In a report released last month, SBI’s economists said that the path taken by India since 2014 revealed that the country is likely to get the tag of the third-largest economy in 2027 or FY 2028 based on actual GDP data as on March 2023.
(To be contd)
INTRODUCTION:
According to official data shared by the National Statistical Office. India’s gross domestic product (GDP) grew by 7.8 % in the April-June quarter of current fiscal (2023-2024), compared to a growth of 6.1% in the previous quarter of fiscal 2022-23. India remained the fastest growing major economy as China’s GDP growth in the April-June was 6.3%. Overtook Britian last year to become the world’s fifth largest economy,and recently surpassed china to become the most populous country.
It appears that India is at the right track of becoming 3rd largest economy by 2030. In a report released last month, SBI’s economists said that the path taken by India since 2014 revealed that the country is likely to get the tag of the third-largest economy in 2027 or FY 2028 based on actual GDP data as on March 2023.
(To be contd)