GJ Town India

India Becoming World's  Fastest Growing Economy The share of Indian economy in world (measured as a ratio of India’s GDP to world’s GDP at current US$) increased from 2.6 percent in 2014 to 3.2 percent in 2017 (as per World Development Indicators database). The average share of Indian economy in world during 1960 to 2013 was 1.8 percent.   The average growth of the Indian economy during 2014-15 to 2017-18 was 7.3 per cent, fastest among the major economies in the world. Indian economy is projected to be the fastest growing major economy in 2018-19 and 2019-20 (International Monetary Fund October 2018 database). This is borne by GDP growth of 7.6 per cent in the first half of 2018-19. As per the estimates available from Central Statistics Office(CSO), the per capita income (measured as per capita net national income (at current prices))of the country increased from Rs. 86,647/- in 2014-15 to Rs 112,835/- in 2017-18, recording a30.2 percent growth fr...

India’s growth trajectory Latest GDP Estimates reflect superior acceleration in India’s growth trajectory says Chairman, EAC-PM. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation released the estimates of Gross Domestic Product (GDP) for the first quarter (April- June) Q1 of 2018-19. As per the CSO, GDP growth rate estimates for April-June 2018 stand at 8.2%. These estimates represent a significant jump from last year’s Q1 growth rate estimates of 5.6%, indicating superior acceleration in India’s growth trajectory. This also validates that the economic fundamentals remain robust. The CSO estimates state that GDP at constant prices was Rs. 33.74 crores for Q1, 2018-19, a rise from of Rs. 31.18 lakh crores and Rs. 29.42 lakh crores for the same period in 2017-18 and 2016-17, respectively. Welcoming this development, Dr. Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister (EAC-PM) attributed this positive trend t...