Recent data arrivals indicate that the first milestone of monetary policy is being passed bringing inflation into the tolerance band, said the article titled 'State of the Economy published in the January bulletin of the RBI.
The objective during 2023 is to tether inflation therein so that it aligns with the target by 2024 the second milestone, the said the article auhtored by a team lead by RBI Deputy Governor Michael Debabrata Patra.
"At current prices and exchange rates, therefore, India will be a USD 3.7 trillion economy in 2023, maintaining its lead over the UK as the fifth largest economy of the world," it said.
According to the IMF's calculations, India will move into fourth place in 2025 and into the third place in 2027 as a USD 5.4 trillion economy.
This story is from the January 20, 2023 edition of Millennium Post Delhi.
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This story is from the January 20, 2023 edition of Millennium Post Delhi.
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