India Become 5th Largest Economy in the World

Indian Economy

India Become 5^th Largest Economy in the World

5^th Largest Economy:-

Ø The latest good news come for India and Modi2.0 Gov.

Ø India overtakes Britain and France to become 5^th largest economy in 2019.

Ø American research report said that India is now moving ahead with the earlier policy of self-reliant.

Ø PM Modi2.0 Gov walks with his target of making India a $5 trillion economy within next five years.

Ø In this year, many bad news for India and Modi2.0 Gov but good news has come.

Ø  The 5^th largest economy in the world with an economy of $2.94 (crore) Trillion.

     

     Report:-

Moody’s reported, lowered GDP growth estimated Corona’s side effect. India has become the 5^th largest economy in the world with $2.94 (crore) Trillion in terms of GDP growth. It passed Britain and France. The size of United Kingdom is $2.83 trillion and France is $2.7 trillion. Now India’s GDP on the basis of purchasing power parity is $10.51 trillion and it’s ahead of Japan and Germany. Due to the high population in India the GDP is so weak for third quarter and may remain 5%. The per ca-pita GDP of United States is $62,794.

US Economy

GDP growth in past years:-

2018:- 6.81% compared to the previous year.

2019:- GDP growth rate slipping from 8% to 5% in second quarter.

2020-21:- Expected to 6.6% to 6.7% respectively. It’s remaining lower than in     recent previous year. Moody’s reduced India’s GDP for 2020 from 6.6% to 5.4% and for 2021 it’s 6.7% to 5.5%.