New York: The Gross Domestic Product (GDP) of India has doubled in size over last ten years. Latest data released by the International Monetary Fund (IMF) showed this.
As per IMF data, India’s GDP at current prices was USD 2.1 trillion in 2015 and is expected to reach USD 4.27 trillion by the end of 2025, marking a 100 per cent increase in just ten years.
The IMF also highlights that India’s real GDP growth rate for the current year stands at 6.5 per cent. Real GDP growth refers to the increase in the value of goods and services produced in the country after adjusting for inflation. India is one of the fastest growing economies in the world.
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The data stated that the inflation in the country is expected to remain at 4.1 per cent. The inflation rate is now in the central bank of the country RBI’s targeted range of 4 to 6 per cent. Inflation remains a key indicator to watch as it affects purchasing power and the cost of living.
The IMF data also highlighted that the GDP per capita, which measures the average income of a citizen based on the total economic output, is estimated at USD 11,940 (or 11.94 thousand international dollars in terms of purchasing power parity).
However, the data also points out that India’s general government gross debt is currently 82.6 per cent of GDP. This means that the government’s total borrowings are quite high compared to the country’s economic output.
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